Camelot’s Set For Life to Pay Out £10K Monthly for 30 Years

• Camelot UK is introducing the Set For Life annuity game
• Winners will be provided with £10,000 guaranteed monthly income for 30 years
• The odds of winning are 15,339,390 to one

Camelot UK Lotteries are developing a new draw-based annuity game, which will allow participants a chance to win as much as $13,000 (£10,000).

Camelot UK Introduces New Annuity Game

UK customers of Camelot, one of the leading UK lottery providers and operators, will have an opportunity to participate in a new game, promising to fetch them as much as $13,000 (£10,000). The annuity draw-based event will pay winners the reward monthly, for a period of 30 years, and it seems that it will be one of the latest staple products to hit the lottery vertical.

“Set For Life” is launching on March 18 and the tickets for each event would cost estimated $1.9 (£1.5). Tickets can be purchased through the National Lottery’s website, bought with the help of a mobile app, or snapped up at an official retail outlet as early as March 15.

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Players will then choose five numbers from a total of 47 available digits as well as a “Life Ball” which will also carry a number (0-10). Participants who manage to match the five main numbers as well as the Life Ball will be considered winners.

Camelot has also revealed the most likely odds of winning the monthly prize, putting them at 15,339,390:1. The draws will occur twice a week, on Monday and Thursday. To spread awareness, Camelot will also feature “Set For Life” in a new marketing campaign, which will be rolling out ahead of the official launch of the game.

Is There a Shift Towards Annuity Games in the UK?

The popularity of annuity games has been spreading across the United Kingdom, and Camelot’s decision is a direct response to that demand. Nigel Railton, top executive at Camelot, explained the birth of the new game thus:

Annuity games really appeal to a growing number of people who like the idea of winning a prize paid out in regular instalments over the long term, and are very successful in other countries.

Mr. Railton is convinced that “Set For Life” would enjoy the same popularity that the National Lottery does, with the small wrinkle that it might take some time to gain traction. Still, he believes that the game will appeal particularly to the younger demographics as it introduces an alternate way of making a bet.

“It appeals to a different kind of player. There are a good number of people who like the stability of regular monthly payments. – National Lottery spokesperson

The addition of “Set For Life,” achieves another important goal, by diversifying the experience to suit a variety of tastes, play styles and more. Mr. Railton estimates that if the National Lottery is going to continue operating at a profit, it needs to adapt to consumer tastes and while lottery-based games should be in the core, the could be overhauled to better match the expectations of the new generations.