Irish Examiner View: Lotto questions

If the government decision to, in 2014, privatise the National Lottery seemed bizarre, then it seems even more so now. After all, if a company could run it and make a profit, why could the State not do the same? Premier Lotteries Ireland (PLI) then paid €405m for the licence, which is due to expire in 2034. That’s just over €20m a year — and what good business that has proved for PLI.

The Office of the Regulator of the National Lottery records that €18,993,483 was forfeited by lottery prize winners last year, because they did not collect winnings within 90 days. However, only €187,400 was kept in play through extra prizes. Over €90m in unclaimed prizes has been returned to PLI since November 2014, almost a quarter of what they paid for the licence.