Time for a Bermuda lottery, anyone? – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS PODCAST

Time for a Bermuda lottery, anyone?

Dear Sir,

Bermuda Lottery?

Most Bermudians know that we are fighting a battle to reduce the country's debt burden and balance the books. On one side of our imaginary scales, we have (government) income, on the other (government) expenditure.

As every household knows, to bring our scales into balance, we can either:

• Increased revenues (taxes)

• Decreased expenditure (government spending)

Preferably both.

All expertly explained by Nathan Kowalski in these pages in March of this year.

“Sisyphean task of dealing with Bermuda's debt”, March 16, 2015

Although we all wince at the thought of higher taxes, they certainly are on the way.

Perhaps a slightly more “pleasant” tax increase would be “The Bermuda Lottery”.

Although our population size limits the payout, it also increases the odds of winning. Also, with an online site and tickets available to tourists, we could significantly increase the weekly income.

Here's a cursory look at the numbers:

Ontario lottery and Gaming Corporation reported (12 months ending March 2014) — a Core Lottery Player is someone who buys lottery tickets once a week or more. Approximately 20 per cent of Ontario adults are Core Lottery Players.

So let's say 20 per cent of residents (65,000 x 20 per cent = 13,000) buy a $10 ticket every week, 10 per cent goes to administration and retail commission — 50 per cent or $58,500 — is paid out (13,000 x 10 = $130,000 minus 10% = $117,000 X 50% = $58,500)

OK, it's not EuroMillions but not bad and, with rollover and overseas players, that will increase some weeks. Not to mention the “non-core players” who may have a flutter once a month.

So what's in it for the Government? The other 50 per cent ($58,000 per week) goes on to the revenue side of our scales.

That's just over $3 million per year, a drop in the ocean of debt but a start. As an afterthought, perhaps non-resident players could be tempted to play by having Bermuda-themed prizes such as flights and all-inclusive holidays.

Airlines and local hotels should heavily discount the cost of these prizes because they will receive considerable publicity.

MARTIN WILLIAMSON

Paget

Revenue earner: Would a lottery benefit our debt-stricken Island?

You must be Registered or to post comment or to vote.

Published August 18, 2015 at 9:00 am (Updated August 18, 2015 at 1:40 am)

Time for a Bermuda lottery, anyone?

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon