Lottery scam?

[GiveMeFiveMinutes]

I was in the petrol station this morning, buying fuel.

I was queuing behind a person who was discussing a fairly new addition to the national lottery, called “set for life”.

He was saying that it was a scam, as in 18 draws, nobody has won the jackpot and it doesn’t roll over.

I googled it and read a couple of articles that were saying the same thing.

Set for Life is different to other lotteries in that it pays out to the winner on an annuity basis, of £10k per month for 30 years. 3.6 million over 30 years.

Now, I don’t agree that it is a scam as such, but it does seem incredibly weighted in favour of Camelot in this instance.

18 draws, no jackpot winner, no rollover, and the secondary prize of £10k per month for a year has been won 17 times. The next tier of prize is just £250. There is no option to take a reduced lump sum payment either.

Does anyone else think that this seems inherently unfair to the consumer?

Does anyone else think that this seems inherently unfair to the consumer?

Is it compulsory to buy tickets?

A person who buys a product is a consumer.

A person who does not a buy a product is not a consumer.

Please note that I did not say "the general public"

You know what youre getting into when you buy the ticket. So no i dont think its unfair.. you buy into the CHANCE to win 10K every month for 30 years. No where does it say someone must win that. They have to make some money back off it. The likely hood of 6 preselected numbers coming up in a draw is slim anyway. They wont be selling as many tickets as eg lotto because its new. Sounds about right to me. YABU

You’re not forced to play! All gambling games are a con in some way (until I figure out that match betting thing everyone here goes on about).

I’ve played this one a few times (literally a few!). It’s actually the only lottery game where I’ve won more than I’ve put in - I’d say I’ve spent £7.50 and I’ve won £20 in three games. It’s called gambling for a reason, and I’ve quit this one whilst ahead .

I know that nobody is forced to play @DoneLikeAKipper -I'd rather keep my money safe in my bank than risk losing a bit each week.

However, I am still quite shocked that this particular lottery game seems much more heavily weighted in favour of Camelot than others.

At least with others, the jackpot rolls over and increases the pot for the following draw. In "set for life" it disappears entirely in to the pockets of Camelot.

All gambling is weighed to the advantage of the company. 'The house always wins'

At least with others, the jackpot rolls over and increases the pot for the following draw.

Not true. The Thunderball game doesn’t, the only difference is that you get a small prize if you guess the TB. That’s probably a worse hook, because people think ‘ah, I have a 1 in 14 of getting £2 back on my £1’.

Even with a rollover draw, that doesn’t make it any ‘fairer’. The normal lottery gives you a prize for matching two, as does the LB so what’s the difference? Those are the better odds, so the fact that no one has one the jackpot yet is irrelevant.

Fair enough @DoneLikeAKipper I didn't know that, I thought they all rolled over.

Also, match 2 numbers on a lotto or euromillions and u win like 2.50 or a free lucky dip or something. Match 2 numbers on set for life and you win a fiver. Its also cheaper to play

"but it does seem incredibly weighted in favour of Camelot in this instance."

fairly sure all gambling is weighted in the favour of the company :p

Personally, for me, the biggest lottery scam is that they carry on selling scratchcards after all the prizes have been claimed. So people have no chance of winning.

Do they?!!! That's terrible @DGRossetti 😱

I know, I know, as someone said "the house always wins" @00100001 BUT this one just seems worse than the others to me.

Personally, for me, the biggest lottery scam is that they carry on selling scratchcards after all the prizes have been claimed. So people have no chance of winning.

Well the people who buy the losing tickets have no chance of winning whether they buy them at the start or the end of the competition. So that's false logic if I ever heard it!

Well the people who buy the losing tickets have no chance of winning whether they buy them at the start or the end of the competition. So that's false logic if I ever heard it!

Are we straying into Monty Hall territory ?