International super lottery to create jackpots of $500 million or more
Posted: 9/12/2008 12:56:17 AM

A massive, multi-country lottery with $500 million jackpots is expected to launch within four years
Camelot, operator of the United Kingdom's lottery, has been in talks with firms in 48 countries, including Australia and the US, to launch a global draw.
The plans involve a monthly game creating up to 100 millionaires plus a once-a-year super prize — likely to be on a holiday such as New Year.
They are being drawn up in response to the public's love of big-prize draws.
The National lottery launched in 1994 under the phrase 'It could be you'. It has seen Lotto ticket sales fall by £105 million to £2.75 billion (US$4.84 billion) last year, its lowest sales in a decade.
Meanwhile Euro Millions, which operates across nine different countries, has seen its UK sales up by 10 percent to just under £500 million (US$880 million).
Euro Millions' biggest jackpot was £125 million (US$220 million) in 2006, compared to the domestic draw's top prize of £42 million (US$74 million). However, the comparison does not take into account the fact that Euro Millions is much harder to win than the domestic UK Lotto game.
David Forrest, Professor of Economics at the Centre for the Study of Gambling at the University of Salford said, "With a lottery you are selling a dream to the public.
"If a product comes along with a bigger dream, people will switch to it."
According to the British professor, American lottery players abandon state lotto jackpot games when a multi-state game is available.
"In the US, if you offer people a multi-state game with a bigger payout, they don't bother with the local lottery."
A spokesman for Camelot said plans to develop the international lottery were going well, but added there are no plans to drop the national draw.
"'Over the last five years there has been an 8.5 percent (£391.8 million) increase in sales.
"This helped overall returns to Good Causes rise to more than £1.35 billion (US$2.38 billion), bringing the total raised by National Lottery players to over £21 billion."
The National Lottery will be contributing almost £2.2 billion (US$3.9 billion) towards the London 2012 Olympics, of which £750 million will come from specially designated lottery games.
Source: Telegraph