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golach
17-Jan-13, 10:43
Camelot have decided to put the price of a flutter on the Lotto up to£2.00 a ticket. The government collected £738 million in duty last year because of 12% duty charged,this will double if the ticket price goes up.
I only buy two tickets a week at the moment, I am now thinking will I bother any more. [disgust]

Shaggy
17-Jan-13, 11:30
I buy 2 tickets a week for the lottery and 2 for the euromillions and although i accept the odds of winning are humongous and the pot was pitiful, now that the cost of trying to win has doubled, i wont buy wed/sat anymore. I'll just drop the wed/sat tickets and stick with euromillions (unless they put them up too).

ducati
17-Jan-13, 12:11
Now they have you hooked they could probably make it £10 a ticket and they would still sell them.

ducati
17-Jan-13, 12:15
Camelot have decided to put the price of a flutter on the Lotto up to£2.00 a ticket. The government collected £738 million in duty last year because of 12% duty charged,this will double if the ticket price goes up.
I only buy two tickets a week at the moment, I am now thinking will I bother any more. [disgust]

Thats interesting. When the fledgling United States formed they had no way of collecting taxes so they didn't. They just ran Lotterys. That would be a good model for us. Just gamblers pay and everyone else lives tax free. (I bet it would work :eek:)

golach
17-Jan-13, 12:19
Thats interesting. When the fledgling United States formed they had no way of collecting taxes so they didn't. They just ran Lotterys. That would be a good model for us. Just gamblers pay and everyone else lives tax free. (I bet it would work :eek:)
I picked up that snippet of info the other day while watching a programme called Pawn Stars, they had a lottery ticket signed by George Washington

changilass
17-Jan-13, 12:43
When is this due to start?

They won't be getting our money anymore.

golach
17-Jan-13, 13:21
When is this due to start?They won't be getting our money anymore.
sometime in the Autumn allegedly

sids
17-Jan-13, 13:39
Just buy half as many as before.

Shaggy
17-Jan-13, 13:47
Just buy half as many as before.

which halves the odds of winning.....why didnt i think of that

changilass
17-Jan-13, 13:55
Will continue playing till price goes up, but after that will save it and put it into premium bonds, at least I will have something to show for it even if ernie fails to pick my numbers.

weezer 316
17-Jan-13, 16:57
Lol! What greeting about the price! Its been the same price since.....1994. Can you name me any other fixed rate service that's the same price as 1994?

Mind, its not a right to buy lottery tickets, its a privelage!

Rheghead
17-Jan-13, 17:38
Lol! What greeting about the price! Its been the same price since.....1994. Can you name me any other fixed rate service that's the same price as 1994?

Mind, its not a right to buy lottery tickets, its a privelage!

Yep agree 100%

golach
17-Jan-13, 17:49
Yep agree 100%

Its not just the price going up I am bothered about, but the amount of duty that will be generated by doubling the ticket price, is my main concern

ducati
17-Jan-13, 17:51
Its not just the price going up I am bothered about, but the amount of duty that will be generated by doubling the ticket price, is my main concern

Why? that amount will build a hospital.

Rheghead
17-Jan-13, 17:55
Its not just the price going up I am bothered about, but the amount of duty that will be generated by doubling the ticket price, is my main concern

But over 18 years that revenue has depreciated in real value to good causes, no?

golach
17-Jan-13, 19:25
Why? that amount will build a hospital.

But does it go to that use? Or will it fund the MP's proposed pay increase that they want.

sids
17-Jan-13, 19:37
which halves the odds of winning.....why didnt i think of that

What happens to the size of the jackpot when the price goes up?

Alrock
17-Jan-13, 19:45
Double the stake should see double the prize money (assuming the number of tickets sold remains the same) & after all, at an estimated £4 million jackpot currently & the fact that £4 million doesn't go far these days (how many Mars bars is that?), it's no wonder that they are doubling it....

ducati
17-Jan-13, 20:06
But does it go to that use? Or will it fund the MP's proposed pay increase that they want.

Well if it didn't, that would cost a hospital. :eek:

sids
17-Jan-13, 21:36
Double the stake should see double the prize money (assuming the number of tickets sold remains the same) & after all, at an estimated £4 million jackpot currently & the fact that £4 million doesn't go far these days (how many Mars bars is that?), it's no wonder that they are doubling it....

So if the price doubles and the jackpot doubles and you buy half as many, you have half the chance of winning twice as much.

secrets in symmetry
18-Jan-13, 00:03
So if the price doubles and the jackpot doubles and you buy half as many, you have half the chance of winning twice as much.Lol!

Brilliant post - it looks like nonsense, but it's spot on if nothing else changes, and everyone else buys their usual number of tickets. :cool:

The actual changes that are being made are quite different. Here's the Gruinard's report on it. (http://www.guardian.co.uk/uk/2013/jan/16/national-lottery-ticket-price-double)

Shaggy
18-Jan-13, 01:29
£4 million doesn't go far these days (how many Mars bars is that?)....

oh somewhere in the region of 9,981,000 give or take....