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.