Lucky Block CEO Scott Ryder has been following the bidding process for the new UK national lottery licence, where Camelot competitors are complaining about an unfair process that benefits the incumbent. Ryder explains why Lucky Block is better than all the rest.
23 February, London, England – According to press reports, Camelot is in pole position for the new UK national lottery licence which comes into effect in 2024.
Today Lucky Block CEO Scott Ryder weighed in on the brewing storm around the bidding process for the UK national lottery.
Lucky Block believes it can do better than any of the operators trying to knock Camelot off its perch, with a crypto-based lottery that rewards its players, gives everyone a vote on the good causes to support and provides easier chances of winning.
Lucky Block is also global and open to all.
Lucky Block notes that Canadian-firm Camelot has been running the UK national lottery since 1994 and if it wins this time – and we should know in March if it has – it will be on its fourth licence.
But if leaks to the media from the closed process run by the UK Gambling Commission are to be believed, Camelot’s licence bid competitors – mostly the runners of national lotteries in other countries – say they are not operating on a level playing field.
A so-called “risk quotient” of 15% has been added to non-Camelot bidders’ business proposal costings, meaning their bids are more expensive compared to the incumbent’s, reports the Financial Times.
Camelot’s competitors claim that while its profits have been on the rise the amount it gives to good causes has been in decline. It is also alleged to be concentrating more on lucrative scratchcards at the expense of donations to charities.
Lucky Block chief executive officer, Scott Ryder commented:
“As a crypto-based lottery that does not use Real Money Gaming, we are not direct competitors in the bidding to run the UK national lottery, but we are of course competitors in the wider sense of aiming to break open this monopoly.
“Lucky Block’s mission is to make lotteries easier to win, easier to play and with more control for the players themselves by giving everyone a vote on the good causes they want to back.
“We also pay all our token holders a reward for just being a part of our family, so everyone’s a winner, not just the fat cats.
“Our app is out on 21 March and we think consumers will agree that our vision of the future of lotteries is fairer for all – Lucky Block is the People’s Lottery.”
“Our $5 million lottery pool for prizes is growing fast and stands as a testament to the popularity of our product. Token holders are coming onboard in their thousands to be part of this exciting new approach to lotteries, where the players get to own a part of the platform.
“My team is ramping up our development and marketing efforts across all channels. We are getting the app ready for beta testing on 7 March – and one of the centrepieces of our marketing will be a billboard poster in New York City’s Times Square, coming soon.
“We are also working on major sponsorship deals to make sure we launch with a bang. Our merchandise shop opens for business on 1 March.”
See CEO Scott Ryder’s LinkedIn post on the bidding round: https://www.linkedin.com/posts/scott-ryder-37061858_up-for-grabs-winner-of-national-lottery-activity-6902191291699195904-qYZg
Camelot competitors in the bidding round include: Allwyn, a Czech lottery operator previously known as Sazka, Italy-based gambling group Sisal and UK-based Northern & Shell.
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About Lucky Block
Lottery-based cryptocurrency Lucky Block took just three weeks to reach a market capitalisation valuation of $1 billion on 17 February – that makes it the fastest growing crypto project ever. More here.
Lucky Block is a crypto lottery launching on 25 march 2022.
Beta testing of the Lucky Block mobile app will begin on 7 March, two weeks before the app is scheduled to launch on 21 March.
The first lottery draw is scheduled to take place on 25 March.
Lucky Block began trading on the PancakeSwap decentralised exchange on 26 January and was listed on its first centralised exchange – LBank – on 11 February.
Lucky Block has 38,477 token holders.
Lottery pool for prizes is currently valued at $5.17 million.
Lucky Block has a diluted market capitalisation of $624 million, as at 11:50 on 23 February 2022.
Full information about Lucky Block can be found on our website: https://luckyblock.com
Media contact email: [email protected]
Media contact phone: Gary McFarlane 07472 703 288
Lucky Block Address: Office One, 1 Coldbath Square, Farringdon, London, EC1R 5HL