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Jerome García May 3, 2023 2 min read
Money Raised for Good Causes in the UK Decrease by 12%
The funds raised for good causes between January and March this year decreased on a year-over-year basis by 12%, a report released by the Gambling Commission reveals
Since the launch of the UK National Lottery, billions of pounds have helped fund different arts and heritage, education and sports initiatives. The gambling regulator in the country, the Gambling Commission, ensures that funds raised by the Lottery are distributed to good causes. Its responsibility includes the accurate and timely distribution of those funds, while a report on the activity is published on a quarterly basis.
Judging by the latest report released by the Gambling Commission, funds raised for good causes between January and March this year or Quarter 4, 2022 to 2023, marked a 12% decrease when compared to the corresponding period a year ago. In total, for the recent quarter, the funds raised for good causes hit £432.5 million ($541.6 million), which was £58.8 million ($73.6 million) less when compared to Quarter 4 2021 to 2022 or the period between January and March last year.
Besides a decrease year-over-year, the latest result marked a decline in the quarter-over-quarter results. For the previous quarter or Quarter 3, the funds raised for good causes hit £434.1 million ($543.6 million). This translates to a decrease of 0.4% or £1.6 million ($2 million) less reported for the period between January and March this year. Despite the decrease, since the launch of the Lottery, more than £47 billion ($58.9 billion) was raised for good causes.
Sales Results Impact Funds Raised for Good Causes
The gambling watchdog explained that the decrease in the funds raised for good causes was the result of a decline in the sales of instant products such as interactive instant win games and scratch cards. The sales for those products during the latest quarter decreased by 12.7% to £120.5 million ($150.9 million) when compared to the previous quarter. Additionally, the Gambling Commission explained that lotto sales between January and March this year decreased by 14% to £75.1 million ($94 million).
Although a decrease in sales was seen, the Commission noted that this was partially offset by an increase in the unclaimed prizes. This was the result primarily of closures of scratch card games, said the gambling watchdog.
Jerome is a welcome new addition to the Gambling News team, bringing years of journalistic experience within the iGaming sector. His interest in the industry begun after he graduated from college where he played in regular local poker tournaments which eventually lead to exposure towards the growing popularity of online poker and casino rooms. Jerome now puts all the knowledge he's accrued to fuel his passion for journalism, providing our team with the latest scoops online.