Lotto ‘annuity game’ to pay winners cash over 25 years
NATIONAL Lottery organisers yesterday announced a new game that will see winners given “thousands of pounds every month for at least 25 years”.
The “annuity game” is still being finalised but is set to launch next year.
The new format was one of a raft of changes announced by operator Camelot which it hopes will reverse a slump in ticket sales.
Among the new features are increased cash prizes for various ball matchings.
The new lottery game is still being developed w i t h financial experts and lawyers, but tickets are to go on sale from an unspecified date next year. A Camelot statement said: “We are still in the process of getting agreement from our regulator, but are currently finalising details for a brand new annuity game – something very different to the big jackpot draws.
“The game will give the winners a regular set amount of money for a certain number of years.
“It is not due to launch until next year, so we don’t yet have any exact information on the prizes or the cost of play.
“We will provide an update as soon as possible.” The new game and other Lotto changes were announced by the operator after sales dropped 8.8 per cent in 2016/17 compared with the previous year.
From November, matching five or more balls plus the bonus ball in its Lotto game will see players win a fixed £1million, up from an estimated £50,000 based on ticket sales. The raffle will be scrapped to fund fixed pots for the remaining categories.
Wednesday’s jackpot will increase from an estimated £1.8million to £2million and Saturday’s from £3.1million to £3.8million.
Camelot chief executive Nigel Railton said: “It was clear from the review that we needed to create a more appealing and balanced range of games that offer something for everyone.”
The in-depth review found that when Lotto changed in 2015 – with gamblers picking six numbers from 59, up from 49 – the game resembled its high-stakes sibling EuroMillions too closely as it became harder to win.
Other changes will see the jackpot only roll over five times, compared with the current 10. The money will roll down to the fixed categories on the sixth draw, creating more winners.
Five balls will win at least £1,750 and four balls will win £140 – both increases from their current values. Three balls will net £30, up from £25.
But the maximum amount on a rollover will decrease, from £22million to around £11million on Wednesdays and £12million on Saturdays.