Profits 'scam' at greedy Camelot

Dow Jones Newsletter

THE operator of the National Lottery was yesterday accused of "making a mockery" of its monopoly after revealing profits of £71million - while chances of winning the jackpot have fallen dramatically. Annual accounts from Camelot showed gross ticket sales raked in £7.2billion, up from £6.7billion in the previous year.

But tickets have doubled in price to £2, while the chances of winning have been slashed following controversial changes.

And rivals pointed out that millions had been paid to Camelot's parent company, Canada's Ontario Teachers' Pension Plan, rather than being handed on to good causes.

Andy Duncan, the 53-year-old boss of Camelot UK, claimed recently that the Lottery's success was all down to "how effective you are in terms of innovation".

But critics said "innovation" to increase profits had simply involved doubling prices and lowering the chances of winning.

Last night a spokesman for rival The Health Lottery said: "Camelot's latest financial revelations make a mockery of its own CEO's claims that smaller society lotteries such as The Health Lottery are a potential stranglehold to its business.

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