The UK’s most played and favourite lotto service, enjoyed by millions each week, is set to double the price of their standard ticket. The National Lottery UK has announced that it will increase their £1 ticket prices to £2, a whopping upsurge of 100%! The new National Lotto ticket prices are to be introduced from Thursday 3rd October 2013, ready for the draw on Saturday 5th October 2013.
Amazingly, this is the first time that the National Lottery has increased their ticket prices after upholding the £1 rate since 1994, almost two full decades! Millions of people online and offline have played the Lotto each week because of the great value of £1 tickets. While other lottery games like EuroMillions have been introduced at £2 or even more, the National Lotto has benefited from maintaining the golden price of only a quid to play.
Camelot, the institutional body that runs the National Lotto have most likely been contemplating the decision to increase their tickets price for quite some time. It is interesting to note that £1.00 in 1994 would be the equivalent of around £1.75 today (2013). During the same period wages have increased, the prices of many everyday goods and services have doubled while some products such as petrol & diesel as well as house hold bills like gas and electricity have tripled compared to 1994, leading some to argue that the National Lotto price increase is long overdue. However, in the current economic times most will argue that the price increase will prove unwelcome by British lottery players.
Whilst it is true that the prices of other products and services have increased over the years due to inflation, the UK lotto is a luxury and not an essential expenditure. Without clear economic forces dictating its growth or decline or justifying the double ticket price.
National lottery players will see the increase as nothing but a cash grab. Ironically for an industry around playing the odds, this huge hike can be perceived as a real gamble for the National Lottery which could easily alienate both new and old customers. Not surprisingly, a recent poll ran by the Daily Mail & Guardian suggested that 8 out of 10 people will stop playing the UK’s most popular Lottery when the £2.00 ticket price comes into play this fall. Nevertheless, despite the drop off in customer numbers many economists feel that the 100% price increase will almost certainly offset these losses by generating an equal amount, if not more revenue than before.
The National Lottery draw was first televised on Saturday 19th November 1994. The live results presented by Noel Edmonds quickly gripped the Nation with “lotto fever” on a Saturday night. The first numbers ever drawn were 3, 4, 14, 22, 30, 44 & with the bonus ball showing a 10. Since that first show, the UK’s favourite lottery’s format has changed radically, from the simplistic Lotto offering nearly 2 decades ago to the online extravaganza that it is today. Back in 1994 the very idea of playing the Lotto and risking having so much money at stake online was a radical thought!
Since launching the National Lottery went through a major rebrand when it changed its name to the “National Lotto” and started to introduce a diverse range of games including 2 weekly draws for the main product. And despite the National Lotto receiving less emphasis by major TV stations, it is still the country’s most played Lottery supplemented with the introduction of the Wednesday mid-weekly draw. And that’s not all; there are now 5 Lottery games in total which are run by the National Lotto.