Greedy Camelot bastards

So, from this weekend, the price of a lottery ticket will double.

Well thanks for nothing, Camelot. You're not getting any more of my hard-earned.

You can shove your "lotto" up your pumper, you greedy bastards.

It's a big hike and one, I suspect, will cost them a lot of punters.

It's for charity - didn't you know?

Don't know why people are complaining, it's probably the only product/service that hasn't increased its prices for 15 years.

Charity? Bollocks to that. If I wanted to donate to charity, I'd stick a quid in a plastic guide dog or something.
The Lottery's there to buy me a speedboat and shit, not send some crippled kids on a jolly....
Bastards.

Natasha Whittam wrote:It's a big hike and one, I suspect, will cost them a lot of punters.

Probably but still should increase revenue.

The price as doubled so it can lose (in theory) half of its customers but still retain the same income.  If it loses less than half it actually makes a profit.

It depends on something known as 'elasticity' of demand - which basically means will people continue paying for the goods or services despite increases in their price or not.

For example people still buy cigarettes although their price goes up each and every year.  

The chances of winning the jackpot are so remote (I think it was stated as 1 in 70 million on the radio this morning) that it is more likely that those who really could do with the money - are the ones who play it the most.

It is likely that these people will still chase the dream and thus why even with the increase in price that those punters will still want to be in it to win it.

Anyway it is only an extra quid when all said and done!


PS - Didn't one of our posters win big on the lotto once?

Sluffy wrote:

Natasha Whittam wrote:It's a big hike and one, I suspect, will cost them a lot of punters.

Probably but still should increase revenue.

The price as doubled so it can lose (in theory) half of its customers but still retain the same income.  If it loses less than half it actually makes a profit.

It depends on something known as 'elasticity' of demand - which basically means will people continue paying for the goods or services despite increases in their price or not.

For example people still buy cigarettes although their price goes up each and every year.  

The chances of winning the jackpot are so remote (I think it was stated as 1 in 70 million on the radio this morning) that it is more likely that those who really could do with the money - are the ones who play it the most.

It is likely that these people will still chase the dream and thus why even with the increase in price that those punters will still want to be in it to win it.

Anyway it is only an extra quid when all said and done!


PS - Didn't one of our posters win big on the lotto once?

Sluffy - When you think about it even though it is just an increase of £1 and doesn't seem a lot, it is a big increase when it is an increase of 100% to make it £2 which people will notice (it's not like it has gone up a few pence like 15p for example).

Also the people who spent £2 on the lotto (2 rows of numbers), their odds of winning has now decreased unless they now spend £4 for 2 rows.

The odds on winning the standard lotto (the one that has increased to £2) is 13,983,816 which is just short of 14Million.

The Euro millions which also costs £2 and even though the odds are far greater (116,531,799), I think a lot of people will play this more for the chance of trying to win the much bigger jackpot than the standard lotto.

People don't play the lotto to get 3 numbers and an increase in payout from £10 to £25 is neither here or there, people play to try to win the jackpot.

I feel this price increase is a backwards step in my opinion.

A breakdown of all money spent on the lotto taken from Wikipedia.

Of all money spent on National Lottery games, 50% goes to the prize fund, 28% to 'good causes' as set out by Parliament (though some of this is considered by some to be a stealth tax^[2] levied to support the Big Lottery Fund, a fund constituted to support public spending^[3]), 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.

I agree with a lot of the things you say Karly but I doubt Camelot would have made the increase without knowing what the probable effect to them would be.

The extract below - whilst being a few years old - shows (to me anyway) a surprisingly wide percentage of the population play with an average weekly spend of £3.00 each.


From 2009 -

A spokesman for Camelot, the company which runs the lottery said: "Around 70 per cent of the adult population play The National Lottery on a regular basis, but with a modest average weekly spend of around £3 per player. Despite being the sixth largest lottery in the world in terms of sales we are only 66th in the world in terms of per capita spend - underlining the success of our strategy to encourage many people to play but to spend relatively little. The demographics of National Lottery play are almost an exact match with the demographics of the UK population.

He added that the National Lottery returns a higher proportion of its revenue to society through charity donations and tax than any other major lottery operator in the world in percentage terms.

http://www.telegraph.co.uk/news/uknews/5911581/National-Lottery-is-tax-on-the-poor.html



I'm sure Camelot will expect people to drop out or switch to Euro but that even allowing for that it will grow its revenue overall.



True story - A few years ago my cousin told me she had a dream about the lotto that was so vivid it actually woke her up and she wrote down the numbers - she said you read about these things but never in your wildest dreams do you think it would happen to you.

Saturday came and not a single number was drawn out!

To make things worse she's bet on the same numbers ever since without success - it's cost her a small fortune!

Sluffy wrote:

Anyway it is only an extra quid when all said and done!

You rich bastard lording it over the rest of us.

Most work Syndicates will fold, so how will the greedy twats make more money ?