How will Brexit affect EuroMillions?

Submitted by Alex Miras on 07.06.2018
eurolotto brexit

   Friday, June 26, 2016, was a dark day in the history of the European Union because it was on this day that a referendum was held in Britain, who confirmed its willingness to renounce membership in the European Union (Brexit). Even though the opinions of the British people were divided almost equally, the majority voted for withdrawal from the EU. In this context, we still have to know how these events will affect the legendary European lottery EuroMillions.

 

Can the UK retain membership in EuroMillions after Brexit?

   The example of Switzerland, which is not a member of the European Union, but at the same time is one of the founders of the largest European lottery, may suggest that membership in the EU is not a prerequisite for the official participation of any country in EuroMillions. 

   As a result, the United Kingdom can continue to play EuroMillions as before, drop out of the UEFA, and send terrible performers to participate in Eurovision. Moreover, during the latest contest Eurovision 2018 in Portugal, it was during the performance by a British singer, some psycho ran on the stage and took away the girl’s microphone, trying to shout something into it.

   Despite all the above misunderstandings, it is in the EuroMillions lottery that the UK holds the leading position thanks to the fact that lottery buyers from the UK got two of the five largest EuroMillions jackpots.


The effect of Brexit on EuroMillions

   Brexit will have an impact on all the founding countries of EuroMillions to a greater or lesser extent. As for the UK, it will be affected in terms of changes in the pound sterling against the euro, which can level with time, as many analysts suggest. Due to the fact that the maximum EuroMillions jackpot is in euros, the weakening of the pound sterling will lead to an increase in the jackpot amount and other prize categories for participants from the United Kingdom.

   To date, the record holders of EuroMillions winnings are a couple from the UK, Coline and Chris Weir. They won a huge jackpot of 185 million euros, which is equal to £161.7 million at the current rate. It is noteworthy that the record UK winning was more than the prize of 190 million euros gained by Brits Adrian and Gillian Bedford, which, thanks to a strong pound sterling rate, was less in the British currency, amounting to only 148.7 million pounds.
If the pound sterling is weakened and reaches parity with the euro due to the Brexit, we are likely to expect a new record EuroMillions jackpot in the UK.

 

Decreased level of secondary prizes

   If the Brexit results in the pound sterling devaluation in the long term, this, in turn, will lower the level of secondary prizes for the British lottery participants. This trend is based on the formation of secondary prizes in all countries participating in EuroMillions from the gross receipts of lottery tickets. Accordingly, all countries that use the euro currency will pay €2.20 of the total ticket price of €2.50 for taking part in the drawing, and the remaining 30 cents are given to the fund of additional circulations. In particular, UK pays only 1.65 pounds of the total EuroMillions ticket price for participation in the circulation. If this amount falls below €2.20 due to devaluation, the secondary prizes for British lottery tickets will be reduced to compensate for the difference in the ratio with the rest of the participating countries.

   As a result, we can conclude that the Brexit is not a cause for concern about the fate of our favorite European lottery EuroMillions, which will continue to operate without changes. The only negative factor caused by the Brexit for residents of the UK is the weakening of the pound against the euro, which can prove to be a weighty argument for the UK not to rush into the events connected with the withdrawal from the EU.
 

Votes with an average with