Feeds

Lotto Co to raise £12.5m for Web game promo

Balls beat computer in lottery draw

  • alert
  • submit to reddit

Internet Security Threat Report 2014

A Web-based lottery company hoping to make at least 2,000 dollar millionaires come the millennium has confirmed that it has already secured £1 million in funding and will have a further £1.5 million in place by the end of the month. OFEX-listed Electronic Fundraising Company plc (EFC) is to use the cash to drive a major marketing campaign to publicise the lottery in the run-up to the millennium. A further £10 million will also need to be raised in the coming months, the company said. London-based EFC has obtained a licence from Liechtenstein to operate the Millions2000 lottery across the Internet. Veteran broadcaster Sir David Frost is helping to promote the venture. If the company can sell all 465 million tickets not only will it create 2,000 millionaires -- and one jackpot winner of $50million -- it will also raise $1.5 billion for charity. It will also be the highest value draw ever. Tickets cost just $10 and the chances of winning are 2.32 million to one. So far, EFC has just sold one block of tickets, at least guaranteeing one millionaire come Jan 1 2000. It needs to sell another 11 to break even but executive chairman David Vanrenen believes it will do this easily, maintaining that there is an "enormous appetite for this type of gaming." Despite the high-tech nature of the Web lottery, winning numbers will not be drawn by a computer. Instead, the company will be relying on good old fashioned balls. ®

Internet Security Threat Report 2014

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Lawyers mobilise angry mob against Apple over alleged 2011 Macbook Pro crapness
We suffered 'random bouts of graphical distortion' - fanbois
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.