How Will Brexit Impact The EuroMillions?
With the Brexit vote on the horizon, the UK's place in the European Union looks increasingly unstable as media outlets continually discussing the various ramifications of an out vote. Despite a range of more pressing concerns, fans of the EuroMillions may well have wondered just what Brexit might mean for their favourite European lottery draw? Luckily, we have the answers.
Firstly, the UK was one of the three founding countries that launched the EuroMillions draw, meaning it won't be unceremoniously kicked out if the UK vote to leave.
On top of that, not all the current participating countries are in the European Union. Switzerland is not part of the EU but participates in the EuroMillions draw, and has done since it joined in late 2004.
The EuroMillions, it can be said, runs in a similar manner to the Eurovision song contest, where participation is based on geographical location, not membership of a politico-economic union (although there are no plans for a surprise inclusion of Australia at this time…).
Secondly, the EuroMillions is not limited to the National Lottery website, there are other companies which offer new ways to enter the draw, and these will remain unaffected by any potential Brexit fallout. These alternatives have become increasingly popular with players who enjoy a more modern approach to the lottery, and enjoy participation without the confines of location restrictions.
Perhaps the most significant change for future winners will be the exchange rate, which is likely to fluctuate if the UK leaves the union. The EuroMillions jackpot is always managed in euros, so for UK winners their exact prize fund is dependent on the current exchange rate.
In 2011 Colin and Christine Weir won €185 million, which was £161 million at the time. A year later, when Adrian and Gillian Bayford took home €190 million, they ended up with the lower amount of £148.6 million because the pound was not as strong against the euro.
So, fans of the EuroMillions can rest easy, knowing that regardless of which way they vote on June 23rd, their favourite lottery won't be closed to them.
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