News Statutory Limits for Lottery Proceeds to be raised from 7 April 2020
Total Proceeds permitted for Large Society Lotteries to raise to £5million per Lottery Draw
“In June 2018 the Government published its consultation on society lottery reform, seeking commentary on proposed changes to sale and prize limits for large and small society lotteries.
The Government announced in July 2019 that it intended to amend Section 99(3) of the Gambling Act 2005, raising the maximum permitted lottery proceeds (ticket sales) per lottery draw from £4m to £5m. The change will result in an increase to the maximum potential individual prize available per lottery draw from £400,000 to £500,000.
In addition, the annual aggregate total proceeds (ticket sales) permitted for all draws operated by a large society lottery operating licence is to increase from £10m to £50m per year.
On 17th March 2020, the Gambling Act 2005 (Variation of Monetary Limits) Order 2020 was laid before Parliament and comes into force on 7th April 2020.
The Order also provides transitional provisions that will enable existing lottery operating licence holders to benefit, on a pro rata basis, from the increased annual aggregate proceeds as soon as the Gambling Commission amends the Licence Conditions and Codes of Practice (LLCP) to reflect the change.
A copy of the Order can be found here”
For further information on this or any other issues, contact gambling solicitor Richard Bradley on 0115 953 8500 or email r.bradley@popall.co.uk
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