Feeds

Lotto Co to raise £12.5m for Web game promo

Balls beat computer in lottery draw

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

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
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
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.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.