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Monday (lottery)

From Wikipedia, the free encyclopedia

The correct title of this article is monday. The initial letter is shown capitalized due to technical restrictions.

Monday - The Charities Lottery is a not-for-profit lottery in the United Kingdom, which is played over the internet or by post. The name comes from the fact that the draws will happen on Mondays. The first draw was scheduled for 2000 BST, Monday 8 May 2006 but was delayed to midnight the same day due to technical difficulties[1].

Contents

[edit] Financial difficulties

Six weeks after launch, it was reported that Chariot, the AIM-listed company set up to run the Monday lottery was in crisis.[2] At the start of June 2006, its share price had fallen by 96%, from a high of 213½p to close at 8p on June 2, 2006. This coincided with the news that directors of the Monday lottery were awarded shares and bonuses worth £10m.

[edit] The 'fairer lottery'?

The Monday lottery initially marketed itself as a fairer lottery than the National Lottery (operated by Camelot Group), as it would give 30p per pound to charity, compared to the National Lottery's 28p. However, on July 14, 2006, after growing financial difficulties, the Monday lottery announced that it would drastically increase the amount it charges charities.[3] Charities would pay the original charge of 1.8p per pound, plus an additional 6p per pound to collect the donations. The reduced Monday's donations to charity from 30p per pound to 22.5p per pound.

[edit] Supported charities

Monday will support the following 70 charities.

[edit] See also

[edit] References

  1. ^ Lottery site delays deadline The Register
  2. ^ Investors furious as bosses of the Monday lottery fall woefully short of the jackpot (Times Online)
  3. ^ Chariot's lottery triples amount it charges charities Times Online

[edit] External links

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