Lottery winners could be swapping their multi-million pound prizes for a lifetime monthly payout of £10,000 in a possible new shake up to increase ticket sales.
Expected to launch in 2019, the new prize system will aim to attract more gamblers after Lottery operator Camelot announced a drop in last year’s players.
The news comes it was revealed this week that Nigel Railton would take over as UK CEO of Camelot.
Railton said: “Some people don’t want big jackpots, they want financial stability to pay more of the mortgage or educate the children.”
Since its launch in 1994 The National Lottery has created more than 4,750 millionaires or multi-millionaires and awarded over £65 billion in prizes.
Camelot said in a statement: “Given the growing number of players who dream of long-term financial security rather than big jackpots, Camelot will explore ways of satisfying this demand with an annuity-style game.”
Camelot is also expected to introduce a Tuesday Thunderball in 2018 which will issue small but more frequent wins for players.
However Lottery expert Professor Ian Walker, from Lancaster University, said: “It’s wishful thinking that this will turn around falling sales.”