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Online Casino Conditions >>> Betting News >>> June News


UK's Chariot Lottery Online Has Horse Gone Wild


Online Casino Conditions Staff
June 12, 2006

The idea of Chariot Lottery sounds fantastic and worthwhile.  Yet, we all know there is a long way to go between the saying and the actual doing of something.  Chariot Lottery said they would be the fix for the national lottery.  Yet, Chariot Lottery, has not fixed anything. The UK-based lottery has not only shown a horrible performance for the month of May,  but has been the brunt of accusations flying against top executive members -  all amidst resignations and reappointments.

Chariot Lottery (derived from the words charity and lottery) was supposed to be the answer to the most current unpopular national lottery in the UK.  Promising to deliver better odds, better jackpots, and a guarantee that up to seventy different charities would undoubtedly receive large portions of the proceeds (30 p to every £1), the idea gained a great deal of support, and by October 2005, had raised £4.4m.  By January 2006, Chariot raised £9.6m before costs.

However, all of that money must now be reaffirmed in order to stabilize Chariot and keep them from going under only a few weeks since holding their inaugural draw.  Chariot execs were expecting the first week totals to be near the £2.8m mark, but were shockingly disappointed when only less than £150,000 was brought in from the opening draw.  Perhaps it was a bad decision, but the drama started when Chariot decided to not permit Northern Ireland residents participate in the opening draw.  On top of this, the drawing itself was postponed by over four hours, due to a server overload on the Chariot website, PlayMonday.com.  Chariot claimed they were receiving four times too many hits on their website (20,000 per second).

Now, Chariot is in the midst of public scandal of sorts.  Current Chairman, Tim Holley, as well as Managing Director, Craig Freeman, are rumored to be resigning from their posts.  In their stead will be Deputy Chairman, Peter Jones, and non-executive Director, John Finan.  All of this restructuring has resulted from the recent accusations from British newspaper, The Independent (who obtained Chariots financial records), that the company's directors have been awarded nearly £10 million is bonuses and shares, and have structured a bonus scheme and employee incentive plan that would award £1 million per year.

While Chariot has denied these accusations, they are nonetheless taking a different approach to their operations management.  The lottery itself is still in effect, and will continue to strive reaching their original goal of bringing in £2.8 million per week on ticket sales.

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