lottery: the cost of winning pounds 15,656,366

Share
Related Topics
Should we or shouldn't we have wagered nearly pounds 14m of your hard- earned money on the lottery last week? With the benefit of hindsight, we may now calculate whether it would have been a good idea to buy a complete set of tickets, covering every possible combination of numbers.

The initial outlay on tickets would be pounds 13,983,816, which would have guaranteed us a share of the jackpot - a quarter share, since there would now be four winners instead of just three. But our large investment would ensure an even higher jackpot. Of the total ticket sales, 45 per cent goes to the prize fund. When the pounds 10 fixed prizes have been deducted, 52 per cent of the remainder is added to the jackpot, 16 per cent to the five-balls-plus-bonus prizes, 10 per cent to the five numbers correct, and 22 per cent to the four-numbers prizes.

After doing the sums we end up with a jackpot of pounds 43,997,357 divided among four, which gives us pounds 10,999,339. We also win six prizes of pounds 104,436 for five-plus-bonus, 252 prizes of pounds 2,168 (five numbers), 13,545 of pounds 75 (four numbers) and a staggering 246,820 tenners. All of which adds up to pounds 15,656,366. At first glance, this looks like a clear profit of pounds 1,672,550, but that's before we take into account the organisational costs. And co-ordinating the purchase of 13,983,816 lottery tickets takes a good deal of organising.

For a start, there's the job of filling out the tickets and having them processed at lottery terminals. Even if you allow only 10 seconds a ticket, that adds up to almost 40,000 man-hours of work. We could print them out by computer, but it's safer by hand - to avoid arousing Camelot's suspicion.

Then there's the time taken travelling between newsagents and the time needed, at the end of it all, to pick up the prizes. At a conservative estimate, it will be 80,000 man-hours in all.

We'd better budget, therefore, for a staff of 2,000 people, spanning the country, each using all the lottery outlets in his area. They will have to be vetted for discretion and reliability, then trained and briefed at a one-day meeting.

We shall advertise for staff in accountancy journals and local newspapers, and invite the 5,000 best-qualified applicants for interview and psychometric testing. The 2,000 finally chosen will each be supplied with print-outs of the numbers to be selected, two ball-point pens, and an attache case with combination lock for collecting the prizes. Travel between lottery outlets will be by public transport in the purchasing phase, by taxi for prize collection.

The Lottery Heist Budget:

Recruitment:

Design 4,500

Advertising: 50,000

Evaluation: 375,000

Expenses: 125,000

Salaries:

Co-ordinators: 50,000

80,000 man-hrs 640,000

Travel:

Bus & train 60,000

Taxis 100,000

Bank interest:

pounds 14m for 5 days 11,462

Training costs:

Hire of hall 1,500

Delegates' exps 60,000

Refreshments 40,000

Office costs:

Office rental 1,600

Equipment hire 1,000

Programming 1,000

Phone costs 20,000

Postage 25,000

600 reams paper 3,000

Ball-point pens 1,000

Floppy disks 80

Paper-clips 8

Prize collection:

Attache cases 100,000

Security escorts 1,200

Couriers 1,200

Total......................pounds 1,672,550

Prize surplus: pounds 1,672,550

Net profit: pounds zero.

React Now

Latest stories from i100
Have you tried new the Independent Digital Edition apps?
iJobs Job Widget
iJobs General

Primary teaching roles in Ipswich

£21552 - £31588 per annum: Randstad Education Cambridge: Randstad Education re...

Science teachers needed in Norwich

£21000 - £35000 per annum: Randstad Education Cambridge: Science teachers requ...

Semi Senior Accountant - Music

£30000 - £35000 per annum: Sauce Recruitment: A successful, Central London bas...

English teachers required in Lowestoft

£21000 - £35000 per annum: Randstad Education Cambridge: Qualified English tea...

Day In a Page

Read Next
Strikes were carried out by manned air force and navy aircraft (File photo)  

Syria air strikes: President Assad now has the enemy he always wanted – Islamist terrorism

Kim Sengupta
 

i Editor's Letter: Take a moment to imagine you're Ed Miliband...

Oliver Duff Oliver Duff
Secret politics of the weekly shop

The politics of the weekly shop

New app reveals political leanings of food companies
Beam me up, Scottie!

Beam me up, Scottie!

Celebrity Trekkies from Alex Salmond to Barack Obama
Beware Wet Paint: The ICA's latest ambitious exhibition

Beware Wet Paint

The ICA's latest ambitious exhibition
Pink Floyd have produced some of rock's greatest ever album covers

Pink Floyd have produced some of rock's greatest ever album covers

Can 'The Endless River' carry on the tradition?
Sanctuary for the suicidal

Sanctuary for the suicidal

One mother's story of how London charity Maytree helped her son with his depression
A roller-coaster tale from the 'voice of a generation'

Not That Kind of Girl:

A roller-coaster tale from 'voice of a generation' Lena Dunham
London is not bedlam or a cradle of vice. In fact it, as much as anywhere, deserves independence

London is not bedlam or a cradle of vice

In fact it, as much as anywhere, deserves independence
Vivienne Westwood 'didn’t want' relationship with Malcolm McLaren

Vivienne Westwood 'didn’t want' relationship with McLaren

Designer 'felt pressured' into going out with Sex Pistols manager
Jourdan Dunn: Model mother

Model mother

Jordan Dunn became one of the best-paid models in the world
Apple still coolest brand – despite U2 PR disaster

Apple still the coolest brand

Despite PR disaster of free U2 album
Scottish referendum: The Yes vote was the love that dared speak its name, but it was not to be

Despite the result, this is the end of the status quo

Boyd Tonkin on the fall-out from the Scottish referendum
Manolo Blahnik: The high priest of heels talks flats, Englishness, and why he loves Mary Beard

Manolo Blahnik: Flats, Englishness, and Mary Beard

The shoe designer who has been dubbed 'the patron saint of the stiletto'
The Beatles biographer reveals exclusive original manuscripts of some of the best pop songs ever written

Scrambled eggs and LSD

Behind The Beatles' lyrics - thanks to Hunter Davis's original manuscript copies
'Normcore' fashion: Blending in is the new standing out in latest catwalk non-trend

'Normcore': Blending in is the new standing out

Just when fashion was in grave danger of running out of trends, it only went and invented the non-trend. Rebecca Gonsalves investigates
Dance’s new leading ladies fight back: How female vocalists are now writing their own hits

New leading ladies of dance fight back

How female vocalists are now writing their own hits