My Thoughts on Technology and Jamaica: Supreme Ventures Limited no longer takes half of unclaimed Lottery Winnings

Monday, March 10, 2014

Supreme Ventures Limited no longer takes half of unclaimed Lottery Winnings

SVL (Supreme Ventures Limited), owners of the popular Cash Pot, Lotto, Super Lotto Pick 3 and Dollaz Games are no longer profiting directly from uncollected winnings.

Winning is still a must though for many Jamaicans, as my hand guide explains how one can win the SVL Lotto Games as per my blog article entitled “3rd Jamaican wins JA$186 million Super Lotto Prize yet to collect prize - How to win Supreme Ventures Limited Super Lotto as Hansel and Gretel Witch Hunters wait till March 28th 2013”.

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This as under new Taxation rules set by the GOJ, all unclaimed winnings are split between the BGLC (Betting, Gaming and Lotteries Commission) and the CHASE Fund as stated in “SVL no longer gets share of unclaimed lottery prizes - Scales back on sponsorships”, published Sunday February 23, 2014, by Tameka Gordon, Business Reporter, The Jamaica Gleaner.

SVL used to use some of that money to sponsor Lottery Games and Sponsorship programs, sharing the unclaimed winnings in a 50-50 split with the CHASE Fund only. But thank to a cash-strapped GOJ, they are now scaling back such operations, to quote SVL's Sponsorship and Public Relations Manager Carlene Edwards: “Sponsorships and donations have been reduced by 25 per cent”.

This makes for some interesting Stats relating to unclaimed winnings and internal stats the common man can relate. But first a quick pick list of the unclaimed winnings:

1.      2010 - JA$136 million
2.      2011 - JA$222 million
3.      2012 - JA$220 million
4.      2013 - JA$180 million

Payments to the Government were split as follows:

1.      JA$800 million to the CHASE Fund
2.      JA$1.3 billion in lottery and gaming taxes
3.      JA$360 million for BGLC fees

SVL Internal Stats indicate a fairly steady cash flow, a possible reason for the GOJ's actions:

1.      700,000 daily transactions on average for its games
2.      JA$19 billion of prize money paid out in 2013 for the Cash Pot, Pick Two, Pick Three and Pick Four games

So despite this turn of events, SVL is still kicking. They still have the option to launch Mobile Gaming on smartphones as predicted in my blog article entitled “Supreme Ventures Limited and the JA$232.2 million Super Lotto Winner - Pointer Sister's Automatic” or even enable Gaming via your local ATM.

SVL has also expressed an interest in going into providing a Mobile Money Service to make up for the shortfall as predicted in my blog article entitled “JCCUL get's approval from BOJ to launch their JCUES Mobile Money Platform - JCUES Mobile Money Wolverine marks the Kick-Ass 2 beginning of a Cashless Society”.

Especially as NCB (National Commercial Bank) new Bank on the Go ATM that can read money would make a great platform to introduce ATM Gambling as noted in my blog article entitled “NCB Under Pressure cuts ties with Remittance Agent MoneyGram - NCB using innovation Edge to plan Mobile Money, Remittance and E-Commerce Triple Play Services by September 2014”.

SVL is still spending what is an unclaimed winning, as alerts to advise you that you’ve won isn’t in the pipeline any time soon.  Just not as hard as before, as they’ll gradually scale back their promotions and sponsorships as they have less thanks to Sabotage (2014) by the greedy GOJ sealing their money!

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