Irish lottery down on its luck as sales fall

Sales of various lottery games fell by 8 per cent in 2014 as the National Lottery reported a drop in revenue across most of its products.

The latest annual accounts of An Post National Lottery show that turnover fell by €54.3 million to €630.9 million last year, down 7.9 per cent.

The results are not as bad as the headline figures suggest, as the 2014 accounts only cover 11 months of trading. A new operator, Premier Lotteries Ireland, took over the licence at the end of last November.

However, the results show that the downward trend in sales of lottery games, which has been evident since the economic downturn in 2008, continued last year.

The most significant factor in the company’s falling turnover was a 12.3 per cent drop in sales of its main Lotto games.

Revenue from Lotto, Lotto Plus and Lotto 5-4-3-2-1 fell by €38.3 million to €272.1 million .

Sales of scratch cards and online instant-win games, the National Lottery’s second-largest revenue stream, also dropped by 2.1 per cent. Sales were down €3.5 million to €164.2 million.

However, sales of Euromillion games — which pool the prize pots from nine national lotteries across Europe — bucked the trend, rising by 1.4 per cent, up €2.2 million to €160.7 million.

Prizes worth €355.1 million were paid out last year to Irish lottery customers, representing 56.3 per cent of turnover. The lottery paid out €27.6 million less in prizes over its various games in 2014 than the previous year, a 12.4 per cent reduction. Payours for scratchcards and online games fell by 1 per cent.

In a report published earlier this week, the public spending watchdog highlighted that the National Lottery had only contributed €178 million instead of an expected €200 million to various government departments in 2014.

The Department of Public Expenditure and Reform said that the gap in the funding was mainly due to “technical and timing issues” relating to the transition to the new lottery regime.

A consortium involving An Post and the Ontario Teachers Pension Plan, which controls Camelot, the UK lottery group, took over the running of the lottery with a 20-year licence last year.

The company spent €405 million to acquire the new licence. Some €200 million of the licence fee revenue will go towards the development of the new National Children’s Hospital on the campus of St James’s Hospital in Dublin.

The new operators have been beset by a series of technical glitches, which led to the first ever cancellation of a Lotto draw in February.

They were also criticised for raising prices and reducing the chances of winning the Lotto jackpot through changes introduced this month.

Premier Lotteries Ireland defended the changes, claiming they would result in more winners and bigger jackpots.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp

Latest

Contact me

For any queries, training, courses or to write for my site ...
Say hello
Twitter feed is not available at the moment.

Related

Roulette, Slots, or Poker Choosing Your Perfect Casino Game
Casinos

Roulette, Slots, or Poker: Choosing Your Perfect Casino Game

The world of casinos offers a diverse array of games, each with its unique charm and allure. Among the most …

The Thrill of the Bet: Exploring the Psychology of Gambling Gambling has been a part of human culture for centuries, offering excitement, entertainment, and the allure of winning big. In this article, we'll dive deep into the psychology of gambling, understanding why people are drawn to it and the various aspects that make it so thrilling. The Allure of Risk and Reward The rush of gambling often stems from the thrill of risk and the potential for significant rewards. We'll explore the human brain's response to risk and reward, including the release of dopamine, a neurotransmitter associated with pleasure and motivation. The Cognitive Biases in Gambling Gamblers are not always rational decision-makers. Cognitive biases, such as the gambler's fallacy and confirmation bias, can influence our choices. We'll discuss these biases and how they impact decision-making during gambling. Understanding the Role of Skill and Chance Many forms of gambling involve a combination of skill and chance. We'll delve into how understanding the balance between these elements can affect a player's experience and decision-making. The Impact of Near-Misses and "Almost-Wins" Near-misses, where a player almost wins, can be more motivating than clear losses. We'll analyze how near-misses in gambling can keep players hooked and the role they play in addiction. The Dark Side of Gambling: Addiction While gambling can be thrilling and fun, it also has a dark side: addiction. We'll discuss the signs of gambling addiction, its impact on mental health, and available resources for those seeking help. Gambling is a complex and multifaceted activity, driven by both psychological and emotional factors. Understanding the psychology behind gambling can provide insights into one's own behavior and, if necessary, lead to more responsible and enjoyable gambling experiences. If you or someone you know is struggling with gambling addiction, don't hesitate to seek help. Many organizations and support groups are available to provide assistance and guidance on responsible gambling and addiction recovery.
Featured Category

The Thrill of the Bet: Exploring the Psychology of Gambling

Gambling has been a part of human culture for centuries, offering excitement, entertainment, and the allure of winning big. In …

The Enchanting World of Card Magic Tricks
Featured Category

The Enchanting World of Card Magic Tricks

Card magic tricks have fascinated and mystified people for centuries. Whether performed by a seasoned magician or an amateur enthusiast, …

Sports News Keeping Up with the Game
Sports News

Sports News: Keeping Up with the Game

In a world where sports play a central role in our lives, staying updated with the latest sports news has …

Slot Machines The Alluring Symphony of Luck and Chance
Slot Machines

Slot Machines: The Alluring Symphony of Luck and Chance

Slot machines, with their flashing lights, catchy sounds, and the promise of lucrative rewards, are among the most popular attractions …

Lifestyle Tips

A Guide to Using Stock Photographs for Your Website Design

Website design is all about creating an attractive website that people love to visit. A key feature of an attractive …

Scroll to Top