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UK National Lotto An Overview (Page 1 of 2)
The UK National Lotto is the largest lottery game in the United Kingdom and is currently operated by the Camelot Group PLC. Camelot was granted the license to run the UK lotto when it was launched in 1994. The National Lotto is regulated by The National Lottery Commission and their role is to ensure that players are treated fairly; that the UK’s interest in the Lotto is taken care of; and that the operator is motivated to maximize the enjoyment and benefits that the Lottery brings to the nation.
In 2002, to stem the tide of diminishing sales, the UK National Lottery had to make some changes. As a result, the main game was re-branded Lotto.
All the prize money paid out on all the games offered by the UK National Lottery is both lump sum and tax-free. The revenues generated by all of the National Lotterys games are allocated in the following manner. For every pound (£) spent on the National Lottery games, 50 pence is allocated to the prize pot, 28 pence is given to good causes that the UK Government decides on, 12 pence goes to the British Government as tax and 5 pence is taken by the Lotto retailers as commission. The license holder receives 4.5 pence to cover their operating costs and a further 0.5 pence as profit.
Anyone interested in participating in the UK National Lottery games must be at least 16 years of age and be resident in either the United Kingdom or Isle of Man.
The National Lottery The Different Game Choices
The UK National Lotto brand comprises numerous games to suit all tastes, each of which is listed here.
Lotto
To participate in the UK National Lotto, each player is required to choose six numbers from 1-49 and a further bonus number. The player can either select their own set of numbers simply by completing the form in the lottery outlet, or they can opt for the lottery retailers system to generate the numbers for them. This is known as the ‘lucky dip’ option.
Players are required to match at least 3 of their chosen 6 numbers to win a cash prize. A players winnings naturally increase as a result of matching more of their selected numbers. A further number is then drawn as the bonus ball which is only relevant to players who match 5 of the 6 drawn numbers. Players who match the bonus ball number as well as 5 of the 6 main numbers win a much greater cash prize than those players who simply match 5 numbers without the bonus ball.
Any player lucky enough to match all their chosen numbers wins the jackpot. The chance of this happening is around 1 in 14 million. If no one wins the jackpot in a given week, the prize fund is rolled over to the following week, making a much larger jackpot. These rollovers are a fairly common occurrence; with one taking place every few draws or so. The maximum number of rollovers permitted by the lottery operator is three but this has only happened on two occasions since this Lottery was launched in 1994.
Unclaimed UK Lottery Cash Prizes
Millions of people all over the United Kingdom play the UK lotto each week with the belief that they can win that life altering jackpot. You would therefore assume that these individuals would be in a hurry to get hold of the results immediately after the draw has finished to see if their dreams have been answered. You may then be somewhat stunned when I say to you that a staggering sum of lottery cash never gets claimed.
The UK National lotto is frequently sitting on substantial quantities of lotto cash that they are just waiting to be claimed. In just the 5 month period from September 2008 to February 2009 just short of £4 million still sits unclaimed by players of just the UK lotto game. These are not just a mass of minor prizes either; there are many in excess of £10,000, a few over £100,000 as well as one prize of £1.5 million.
If you have gone to the effort to play the UK lotto, ensure that you check your ticket numbers the minute the draw has been completed. If you have won a prize, try to claim it at your earliest convenience because the UK National lottery rules specify that any prize that has not been claimed within six months will no longer be payable.
The principle reason put forward by lotto players as to why they do not claim their lotto wins is because they have lost their tickets. Im certain that nearly all of us have lost a lottery ticket at some point and have desperately attempted to get hold of it in time for the draw but with little luck.
Depending on the size of your UK National lotto win, there are different ways in which you claim your prize. If your prize is less than £200, you can claim your money from any UK lotto retailer in the UK. When your prize money falls between £200 and £500 some lottery retailers may still pay out a cash sum of this size but for those who decide against this you will need to visit a post office to claim your cash prize.
When you have to claim UK National lotto prizes of between £500 and £50,000 again the post office can be used as your port of call. You will be required to complete a claim form, provide your winning ticket as evidence as well as show your proof of identification before being given a cheque for your prize. Cash prizes of this nature can also be claimed by post from the National lottery head quarters. Again you will need to complete a claim form and mail your winning ticket as evidence of your win. If you elect to apply for your winnings in this way, be sure to make a copy of your winning ticket for your security and then post the ticket itself via recorded delivery.
If you are lucky enough to be calling in a UK National lotto prize of more than £50,000, you need to visit one of the National lotterys regional centres and request your payout in person.
If you want to avoid ever joining the vast number of individuals who forfeit their UK lotto winnings, it would be wise to set up a subscription service with the UK National lottery directly. If you opt to do this, your lotto ticket payment will always be taken on time and you will be advised of any cash prizes coming your way a short time after the draw has been made. Playing the lotto in this manner will make sure that you always claim lottery prize money that is owed to you.