Tickets could be slashed to just £1 after the company that runs the National Lottery are set to lose their licence - the first time since its launch in 1994.
Allwyn Entertainment, owned by Czech billionaire Karel Komarek, beat Camelot which was named by the Gambling Commission as its preferred bidder to operate the lottery from 2024.
After the news, Camelot's chief executive Nigel Railton said: "We're now carefully reviewing the Gambling Commission's evaluation before deciding on our next steps" with the Mirror reporting that Camelot was named as "reserve applicant."
Because of the secretive nature of the bidding process, Allwyn has yet to give much away about the changes players and retailers will see when it takes over.
However they have vowed to improve the lottery’s draw-based games with reports stating tickets could be slashed to just £1 with reports saying it also pledged to donate £38billion to good causes over the next decade if it wins.
Sign up to Edinburgh Live newsletters for more headlines straight to your inbox
Justin King, Allwyn UK's chairman and former boss of supermarket Sainsbury's, said: "The National Lottery is a vital British institution and we’re focused on ensuring it plays an even bigger part in society by increasing participation, improving safeguards, and giving back more to good causes.".
The other applicants were Sisal Spa, Camelot and The New Lottery Company Ltd.
The Gambling Commission said: "This is the highest number of applications since the first National Lottery licence was awarded in 1994.
"Allwyn has committed to investment in the National Lottery that is expected to deliver growth and innovation across the National Lottery’s products and channels, resulting in increased contributions to good causes, subject to the protection of participants and propriety."
