The British National Lottery and the Olympics Update

 

The Olympic Stadium In London Under Construction In 2010

 

There is still over a year until the 2012 Summer Olympic Games take place, but both London and the British National Lottery are gearing up for this special event. London is currently in the midst of preparations for when they host the 2012 Olympics and Paralympics, while the National Lottery is working on raising £2.2 billion for the events.

 

The proceeds from the National Lottery will help fund five new sports facilities for the 2012 Olympic Games including Olympic Stadium, Handball Arena, Hockey Centre, VeloPark and the Aquatics Centre. The highlight of the sports facilities will no doubt be the 80,000-seat Olympic Stadium, which will host the track and field events, as well as the opening and closing ceremonies. Work on Olympic Stadium began in the spring of 2008, and should be finished in 2011. In fact, Olympic officials are ready to begin testing the facilities by the summer of 2011.

 

International Olympic Committee President Jacques Rogue is very pleased with the progress of Olympic Stadium and the other facilities as he said, “I am in no doubt that in 2012, we will see a great Games that will make a difference to us all.”

 

All of the facilities will be built in the Queen Olympic Park district of London, and the area will house athletes in addition to the aforementioned stadiums. London’s mayor Boris Johnson is very excited about the developments as he said, “Not since Georgian England has London seen such an ambitious and comprehensive vision for a new district.” As far as what is to become of the area once the Olympic Games are over with, plans are in the works for homes, businesses, leisure facilities and parks.

 

Going back to the £2.2 billion that is being raised for these projects, £750 million of the money will come from special lottery games that the National Lottery is holding. There will be 10 Scratch Card Olympic Games listed under the special games section, which include Blazing 7’s, Monster Money, Double Red Hot 7, Mystic Dog, Money Spider, Triple Cash, Royal 7’s, Lucky 7’s, Super 7’s and Winner’s Luck. In addition to the Scratch Card Olympic Games, there will also be 34 Interactive Instant Win Olympic Games. The “good cause” portion of revenue from all of these games will go towards the Olympic Lottery Distribution Fund (OLDF).

 

The remaining £1.45 billion that’s set to be donated towards the 2012 Olympic Games will come from the main National Lottery drawings. Of course, donating money to a charitable cause is nothing new for the National Lottery because the organization has donated over £24 billion since beginning operation in 1994. 28% of the money from every ticket sale goes towards charity, while 50% goes towards funding the jackpot drawings.

 

Perhaps this is a big reason why the National Lottery offers some of the biggest jackpots out of any lottery in the world. The EuroMillions, which is under the same umbrella as the National Lottery, once paid out a £134 million jackpot! This lottery has offered several other lotteries worth over £100 million too.