New Set For Life Game To Launch In March
Last Updated: Friday 11th January 2019, 13:57
The National Lottery has announced that a new game, Set For Life, will be available to play from 15th March 2019. The top prize in Set For Life will be £10,000 every month for 30 years, and Camelot bosses are confident it will prove to be a welcome addition for players who may have been looking for something different.
Unlike other National Lottery games such as Lotto and EuroMillions, which offer huge one-off jackpots, Set For Life is an annuity lottery where winners are guaranteed an income for a set period of time. Over the course of three decades, anyone who lands the top prize will receive £3.6 million.
How Set For Life Will Work
The first draw will take place on Monday 18th March and there will be two games every week - on Mondays and Thursdays. It will cost £1.50 per line and you must select five main numbers from 1 to 47 plus one Life Ball between 1 and 10.
Prizes will start at £5 for matching two of the main numbers and increase in value as you match more numbers. Most prizes are fixed amounts, but the top two awards will work differently, as they will be paid out gradually instead of in one lump sum.
You will need to match all five main numbers plus the Life Ball to win £10,000 a year for 30 years, while there is a second prize of £10,000 a month for a year for matching five main numbers. Go to the Set For Life page to learn more about the new game, how it will be played and all the different ways you can win.
‘A Mix Of Compelling Games’
Set For Life will be the first game of its kind in the UK, and Camelot CEO Nigel Railton believes it is the perfect option for many lottery fans.
He said: “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. We think that Set For Life will be just as popular here in the UK – it will offer National Lottery players something completely new and meet a different set of consumer needs, especially among younger people.
“Most importantly, it rounds off what is now a more appealing and balanced portfolio of games that offers something for everyone – one of the key aims following our wide-ranging strategic review. We’ve now got a mix of compelling draw-based games that suits all tastes, play styles and pockets. That’s vital for The National Lottery’s long-term health – and will help to ensure that, in the years to come, we continue to deliver even more for our players and the millions of people for whom National Lottery funding is so crucial.”
Advantages of Annuity Games
Games such as Set For Life are referred to as ‘annuity’ lotteries because of the way they pay prize money over a longer period of time - known as an annuity period. Similar lotteries have been available around the world in countries such as the USA and Australia for many years, as they provide a host of benefits compared to traditional draw games.
The biggest advantage is that there is no danger of spending all your money at once. Even if you splash out on lots of big purchases in the first few months, you will keep being paid 12 instalments of £10,000 every year for the foreseeable future and therefore have long-term financial stability. The odds of winning the top prize are also better than in Lotto and EuroMillions.
More details about Set For LIfe will be released in due course ahead of the first draw in March, and you will then be able to play online or through retailers for the chance to win big every month!