Search for the next National Lottery operator before license ends
Potential bidders for the National Lottery are now being sought, which means the hunt for the next National Lottery operator is now underway. The Gambling Commission said that it would be seeing out the “best ideas, innovations and experiences”, which would be the foundations for a lottery fit for the future.
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The current license will end in 2023, so the search is on with the company wanting to “maximise returns to good causes”, which would then build on the staggering £39bn already raised since 1994. Since the lottery began in 1994, Camelot has been the only operator of the license – so maybe it’s time for a change.
MP’s on the Public Accounts Committee earlier this year, touched on how much profit Camelot had raked in and asked for a “fair return” for good causes – something that the next license for the lottery should focus on. Between 2009 -2010 and 2016-2017, profits with Camelot had risen from £39m to £71m – but funds for charitable causes were up a mere 2% in that same period!
Neil McArthur, chief executive of the Gambling Commission, said; “We believe there is significant untapped potential for growth whilst still retaining the principles of being responsible, safe and fair. We are looking forward to meeting businesses, investors and interested parties over the next few months to help us to shape an exciting, fair and healthy competition which will take the UK National Lottery into a new era, and ensure it remains one of the biggest and best lotteries in the world.”
In 2012, Camelot was granted a 4-year extension on its existing contract. Camelot was acquired by Ontario Teacher’s Pension Plan – which is one of Canada’s biggest pension funds, for £389m back in 2010
Last year, the lottery had sales of £6.9bn and its estimated that roughly 14million people try their luck with the draw every month. To date, there have been more than 5,000 becoming millionaires and a total of £69bn in prize money has been won by lucky players. But it has come at a cost! In 2013, the cost of the National Lottery Lotto ticket doubled in value; from £1 to £2, to allow for bigger and better prizes to be won – but it also meant more balls were added to the pot. Instead of having 49 numbers in each draw, there are now 59! But each ticket also comes with a Millionaire Raffle number – if you match the number drawn, you will win a guaranteed £1,000,000!