Ask Financial Management Expert

You have supported 500,000 amazing projects!

Making sure as much money as possible goes towards life-changing projects is incredibly important to us. In fact, it's what we're here for. For every ticket sold, a hefty slice of the money received goes to a huge variety of projects, both big and small - from repairing Scout huts to making Olympic and Paralympic champions. So, every time you play, the UK wins.

Less than 1% of our total revenue is kept as profit after tax and just 4% goes on operating costs. It's how we're able to raise, on average, over £30 million a week for National Lottery projects. So far, that's amounted to a whopping £36 billion spread across 500,000 projects - averaging 160 for every UK neighborhood.

As has always been the case, the total amount delivered to these projects depends on a number of variable factors. These include the mix of games sold, whether they're bought in a shop or online, and the level of unclaimed prizes. A year in numbers:

From total ticket sales of £7,595 million in the year ending 31 March 2016:

£1,901 million was raised for National Lottery projects

£4,198 million was paid to players in prizes

£911 million went to the Government in Lottery Duty

£333 million was earned by retailers in commission

Decisions on how and where funding is invested are made by 12 specialist organizations. These are chosen by Parliament for their knowledge and expertise to help ensure the money goes exactly where it's needed. In the year ending 31 March 2016, the funds were shared as follows:

Health, education, environment and charitable causes - 40%

Sport - 20%

Arts - 20%

Heritage - 20%

It turns out a staggering 70% of the UK's over 18s take part in the national lottery on a regular basis, which is close to 45 million people. On top of that at least 50% of the overall population do more than once a month, and on average they buy a minimum of 3 tickets each week.

The demographic of lottery participants is far broader than one might expect. For starters, it is an even split between men and women, at least in the United Kingdom.

Of 18 to 25-year-olds, roughly one sixth of this age range does the lottery at least once a month. Between the ages of 25 and 34 around one-third buy a ticket, while half of over 35s partake in a lottery draw at some point during any given month.

Studies have shown that if you are the upper and middle class, you are less likely to partake in a lotto draw than someone who is working class. And finally... people on benefits are 4% more likely to buy a ticket than those who are not.

Is the UK's national lottery unjust?

Explain how each of the following theories could be applied to answer this question:

(1).Rawls' theory of justice

(2).Nozick's theory of justice

Financial Management, Finance

  • Category:- Financial Management
  • Reference No.:- M92839422

Have any Question?


Related Questions in Financial Management

Assignment problems1 on the day harry was born his parents

Assignment Problems 1. On the day Harry was born, his parents put $1600 into an investment account that promises to pay a fixed interest rate of 5 percent per year. How much money will Harry have in this account when he ...

1 activities of a company that require the spending of cash

1) Activities of a company that require the spending of cash are known as: A) Uses of cash. B) Cash on hand. C) Cash receipts. D) Sources of cash. E) Cash collections. 2) Relationships determined from a firm's financial ...

Module discussion forumto prepare for this discussion

Module : Discussion Forum To prepare for this discussion, review "Basics of Speechwriting" and "Basics of Giving a Speech" in textbook Chapter 15. Then watch this video of Apple founder and CEO Steve Jobs giving the 2005 ...

Launching a new product linefor this portfolio project

Launching a New Product Line For this Portfolio Project Option, you will act as an employee in a large company that develops and distributes men's and women's personal care products. The company has developed a new produ ...

Question 1 discuss valuing bonds and how interest rates

Question : 1) Discuss valuing bonds and how interest rates affect their value. Also consider the importance of the yield-to-maturity (YTM). 2) Discuss common stocks and preferred stocks. Also, which common stock valuatio ...

Introductionlast week you determined the root causes of the

Introduction Last week, you determined the root cause(s) of the problem you are trying to resolve for your final paper. As a reminder, the decision you are working on is the one that you selected in week two. This week, ...

You have owned and operated a successful brick-and-mortar

You have owned and operated a successful brick-and-mortar business for several years. Due to increased competition from other retailers, you have decided to expand your operations to sell your products via the Internet. ...

You will be conducting an interview with a market research

You will be conducting an interview with a market research professional or a company representative. Use the results of your research to make specific recommendations on how market research can be applied to the Marketpl ...

Question 1 what is marketing research what are the two

Question 1: What is marketing research? What are the two primary types of research? Question 2: What factors influence marketing research? Question 3: The role of statistics in business decision-making? Assignment : Sele ...

Chapter 74 for commercial banks what is meant by a managed

Chapter 7 4. For commercial banks, what is meant by a managed liability? What role do liquid assets play on the balance sheet of commercial banks? What role do money market instruments play in the asset and liability man ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As