Less lottery money coming our way

Published: Saturday, 07 April 2018

OVER the past years many millions of pounds have been received from the various lottery funds for 'good causes' connected with the waterways, but we are warned that this is to be curtailed.

There is a two pronged problem—Camelot, the company that runs the lottery, is taking more profit out and people are turning more and more to scratchcards that raise less money.

Well in excess

The Public Accounts Select Committee have released accounts that show that Camelot's profits have risen by a massive 122% since it took over in 2009, that is well in excess of what was expected when it was awarded the licence to run the lottery.

But the rising popularity of the trend for scratchcards, that can give an 'instant win' has resulted in less income, the lottery giving away a lower proportion of its total sales income​ to 'good causes'​ than ever before​, even though the profits for the company that runs it have rocketed.

Further fall this year

During 2017 the money paid out for 'good causes' fell by 15% to £1.63billion, a record low in proportion to total sales, but the bad news is that Camelot has warned that there will be a further fall this year.

MPs have warned the fall in funding for charities could be 'disastrous' and many causes loosing out on expected funding.