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LOTTERY MAKING MORE THAN JUST MILLIONAIRES

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LOTTERY MAKING MORE THAN JUST MILLIONAIRES

Since the early 1990s, the lottery has been providing people with hope and belief that they could become instant millionaires, with the simple purchase of a winning ticket, completely changing their lives forever.

However, since the likes of the National Lottery have started, it’s not only those who hold the winning numbers that can reap the benefits of the programmes. As well as the lucky members of public that scoop the millions of pounds up for grabs, the lottery also funds many special projects around the country, helping people and organisations that are in need.

All lottery prizes are paid as a lump sum and are completely tax-free. Of all the money spent on National Lottery games, 50% goes to the prize fund, 28% to ‘good causes’ as set out by Parliament, 12% to the UK Government as duty, 5% to retailers as commission, and a total of 5% to operator Camelot, with 4.5% to cover operating costs and 0.5% as profit.

Life changing

From total ticket sales of £6,730.9 million in the year ending 31 March 2014, £1,751.1 million was raised for National Lottery Projects, while £3,524.4 million was paid to players in prizes.

As operator of The National Lottery, Camelot states that it is committed to maximising returns to National Lottery Projects through selling tickets in a socially-responsible way.

Camelot delivers, on average, over £33 million each week for National Lottery Projects in 2013/14. To date, National Lottery players have raised over £32 billion for these projects, with more than 450,000 individual awards made across the UK, an average of 144 lottery grants for every postcode district.

As has always been the case, the total amount which Camelot delivers to National Lottery Projects under its current licence depends on a number of variable factors, including the mix of games sold, the channels through which they are sold and the level of unclaimed prizes.

These life changing projects, the past year, have included, works in ‘Good Causes’ in the arts, heritage, health, education, environment, community and charity sectors. The National Lottery has prided itself in leading the way for other lotto sites and organisations, such as Coral, in the process of helping others.

Each Lottery ‘Good Cause’ funds its programmes with their own criteria and application process.

Each distributor makes decisions about who shall receive awards independently of the government and according to guidelines established by the Department of Culture, Media and Sport.

After another year of fantastically funded projects, more lives are set to be changed for the better in 2015.

Allocation

Although Camelot is responsible for generating returns for National Lottery Projects it plays no role in the allocation of funding, which is the responsibility of 12 National Lottery distribution bodies, each with specialist knowledge of their sectors. The income raised for National Lottery Projects from ticket sales is paid by Camelot into the National Lottery Distribution Fund and then allocated to the distribution bodies according to a formula set by the Department for Culture, Media, and Sport. In the year to 31 March 2014, the money Camelot delivered for National Lottery Projects was allocated between Health, Education, Environment, and charitable causes (40%), Sports (20%), Arts (20%) and Heritage (20%).

Filed under: http://www.theleader.info/article/45926/

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