Cost of National Lottery tickets doubles as Camelot ups jackpot

THE COST of a National Lottery ticket will double to £2 in the Autumn, the first price change since the game launched in 1994.

Lottery operator Camelot said the decision to refresh the game was in response to feedback from customers and promised to increase the size of the prize pot.

However the Watford-based company, which was bought by the Ontario Teachers’ Pension Plan for £389m in 2010, is also likely to profit from the price rise.

Under the terms of its ten-year licence to administer the game, Camelot’s income is connected to how much money the operator raises for good causes – currently 28p for every £1 ticket sold.

A further 50p is allocated to the prize fund, retailers earn 5p and Camelot takes around 4p. If total revenue rises, Camelot should benefit.

The company’s most recent accounts reveal a pre-tax profit of £45.7m for the twelve months to March 2012, up from £40.1m in the previous year.

Yesterday’s changes will cause the average Saturday jackpot to increase from around £4.1m to £5m, while players matching three numbers will win £25 rather than the existing £10.