Irish Lottery Millionaire raffle

[Easel]

I was given a ticket for this for Christmas and the draw takes place this evening.

Just had a look and the raffle is sold out at 500,000 tickets at €25 each- €12,500,000

The listed prizes are as follows

• 1 Prize of €1,000,000

• 4 Prizes of €100,000

• 10 Prizes of €10,000

• 30 Prizes of €5,000

• 165 Prizes of €1,000

• 6000 Prizes of €500

Total of €4,815,000. They surely cannot be making €7,685,000 on this draw. I know that some proceeds are given to various causes but this seems extremely excessive.

Does anyone have any information on the profits v's money given to charitable causes for the year for the national lottery?

 

[PebbleBeach2020]

They paid 400 million for a twenty year licence the Canadian teachers pension fund I think it was. They need to make twenty million profit a year after costs etc. This 7.7 million is a step in the right direction. I stopped playing lotto and euromillions.

 

[Pinoy adventure]

Chances of any wins are very slim

 

[Duke of Marmalade]

I was given a ticket for this for Christmas and the draw takes place this evening.

Just had a look and the raffle is sold out at 500,000 tickets at €25 each- €12,500,000

The listed prizes are as follows

• 1 Prize of €1,000,000

• 4 Prizes of €100,000

• 10 Prizes of €10,000

• 30 Prizes of €5,000

• 165 Prizes of €1,000

• 6000 Prizes of €500

Total of €4,815,000. They surely cannot be making €7,685,000 on this draw. I know that some proceeds are given to various causes but this seems extremely excessive.

Does anyone have any information on the profits v's money given to charitable causes for the year for the national lottery?

This is what I posted last week. It is the worst value on offer from NL. The normal pay-out is 52% but this is over 130% at the moment with the €19.1m carry forward.

Have you heard of the Christmas raffle?
€25 a ticket.
Payout 38.5%.
500,000 tickets expected to be sold.
Makes the Lotto look generous.
Promoted as an ideal Christmas present.

I think the Regulator justifies the lower pay-out ratio in that the NL run a slight risk as they guarantee the prizes, even if they only sold say 10,000 tickets which would of course result in a massive loss. Still, they obviously run little risk of that happening.

 

[Easel]

Good to know I'm not losing my mind. Simply crazy that they can get away with it by having a link with some good causes. Would we be as accepting of other betting sites if they gave a % of profits to charity?

Anyone have a link to the governing rules of the lottery and the % pay out to players across all the games? I would love to dive down this rabbit hole.

 

[Duke of Marmalade]

Good to know I'm not losing my mind. Simply crazy that they can get away with it by having a link with some good causes. Would we be as accepting of other betting sites if they gave a % of profits to charity?

Anyone have a link to the governing rules of the lottery and the % pay out to players across all the games? I would love to dive down this rabbit hole.

I attach some of the rules. Not the Christmas Raffle but a Google search should give it. The rip off is quite transparent, all set out in the rules and overseen by the "Regulator".
The good causes thing is of course a PR scam, a cynical effort to defuse criticism that the state is encouraging gambling. It goes to a public fund and yes they disburse it to good causes. Maybe they should disburse tobacco tax revenues to good causes.

 

[Sue Ellen]

Two other reasons not to do Lotto:

National Lottery scratch cards were missing €180,000 in prizes

Operator apologises for error and says funds will be added to special draw held in January

www.irishtimes.com

Joint Committee on Finance, Public Expenditure and Reform and Taoiseach to discuss insurance and issues relating to National Lottery

The Joint Committee on Finance, Public Expenditure and Reform and Taoiseach will meet tomorrow, Wednesday, 15 December, for separate engagements on insurance matters and issues relating to the National Lottery.

www.oireachtas.ie

 

[Cervelo]

Every year I buy four of these tickets thinking this year I'll be a winner
And every New years day I swear I'll never buy another one
Till Christmas rolls around again