Despite several economic interruptions over the last year, the global retail industry has produced impressive numbers, especially as sales from online retail stores have steadily increased, moving from $1.34 trillion in 2014 to $2.84 trillion in 2018. Yet even as retail eCommerce continues to dominate, brick and mortar stores remain an important part of the consumer shopping experience.
Physical retail stores also still play a big part in the economy. That’s especially true with all of the various incentives being used to attract and retain these establishments. In fact, the retail incentives in Ireland are a great example of how they contribute to the economy, especially when it comes to selling lottery tickets.
Using retail incentives to sell lottery tickets
By now, most people are aware of how the Irish lotto jackpot contributes to the economy in Ireland. After all, some of the biggest past winners have invested in the property market as well as started businesses and charities in the country. For instance, the second biggest EuroMillions win in Ireland sat at £114.9 million, and much of this figure was given back to the economy. The couple who won the jackpot in 2019 has started charities in Northern Ireland and the United Kingdom and purchased homes for friends and family.
For more perspective on what lottery jackpots in Ireland look like, the biggest jackpot came in at €175 million in 2019. A family in the small village of Naul won the record-breaking jackpot. The current Irish lotto jackpot figure is around €19 million. No one has picked the winning six numbers yet, though one individual did win almost €1 million in the Lotto Plus 1 draw on November 20th.
With the magnitude of the lottery prize winnings, it’s no surprise that some winners are hesitant about how to invest their lump sums. Most commonly, Irish winners have used lottery lump sums to invest in property and businesses since the 2000s, but what’s less known is that the retailers selling these tickets are also playing a role in the eventual winnings going back into the community. In Ireland and other countries like Canada, there’s an incentive program called the seller’s prize. Essentially, the seller’s prize is meant to encourage retailers into selling as many lottery tickets as possible because if they sell a winning ticket, they are awarded a cash prize. For example, in 2019, a retailer owner in Cork was awarded £15,000 from the National Lottery after selling a £5.3 million Lotto ticket.
If there’s one town in Ireland where the retail seller’s prize has the most significance, it’s Castlebar. The town only has a population of roughly 11,000 people, but it has produced three EuroMillions jackpot winners. In fact, the £17 million won at a convenience store in Castlebar in 2020 was the second biggest jackpot won in Ireland that year.
Lotteries have long impacted society, but many don’t realize how much of an impact the casino game has had on the economy, especially in countries like Ireland, where jackpot winners appear more conservative in their spending and prefer to invest in properties or start businesses. Similarly, it’s the retail owners selling these tickets that are contributing to this economic growth since the seller’s prize acts as an incentive to sell as many lottery tickets as possible.