The Irish National Lottery has been sold to a consortium that involves a pair up between An Post and Camelot. An Post is currently running the Irish Lottery game together with the Irish version of EuroMillions. The sale of the Lottery licence for 20 years to the new consortium has been heralded as a good deal. Here is why.
The Irish State has firstly beat estimate predictions for the amount that they could sell the lottery licence for by a third. That is a significant amount for the cash strapped government and they also maintain involvement in the running of the lottery via An Post.
The funds generated by the sale will be paid in full in 2 installments by the time the lottery licence comes into effect. This effectively means that they can take the cash lump sum and commit it to social projects in Ireland. At the present time the talk is of building a National Childrens Hospital.
The licence sold to run the Irish Lottery runs for a period of 20 years and can now be viewed as a semi controlled state concern. The inclusion of Camelot the British Lottery company will undoubtedly add a level of experience in Lottery management.
Camelot is a company steeped in Lottery management experience. It is though currently experiencing issues with the UK Lotto game. It has as reported in previous articles courted some controversy in recent times with an increase in lottery ticket prices for the UK National Lottery. There are currently calls in the United Kingdom to boycott the Lotto game due to perceived greed on the part of Camelot.
It remains to be seen if they will practice this approach with both the Irish National Lottery game and the Irish version of EuroMillions.
Lottery games in Ireland are popular with reports indicating that the Irish buy more lottery tickets than most other European countries. That fact together with the changing of the Lotteries act to allow Online Lottery ticket sales to increase must have been an attractive proposition for Camelot.
The sale of the Irish National Lottery has been concluded without rancour or controversy which is a first and Irish Media commentators are congratulating the Government on a job well done. The new lottery licence will begin its term in October of 2014.