Could Tech Giant, Amazon, Be Looking to Join the Gambling Sector?

Amazon, one of the giants in the tech industry, recently had talks about the intention to join the gambling bandwagon by seizing control of the National Lottery of the United Kingdom. Company representatives had started a dialogue with the UK Gambling Commission, the entity that’s in control of the bidding process.  Nevertheless, sources later confirmed that the discussions were going smoothly before Amazon decided to steer away from that direction prematurely.

Still, even with Amazon’s pull out, there’s ample room for talks about getting back on track since Camelot’s existing license isn’t expiring anytime soon.  Proponents of the iGaming industry also agree that maybe, just maybe, Amazon may have seen the Lottery as a chance to take the competition online and widen its reach through the gambling sphere. As such, they might just be regrouping before coming back to make a stronger bid.

Camelot isn’t Ready to Let Go

However, before the current license expires, there appears to be a bit of a tussle between Camelot and the UK Gambling Commission. Camelot, which is under the Canadian pension fund, is determined to keep the lottery license but the UKGC prefers the product to be steered by new and flexible management that can adapt quickly with the volatile trends in technology.

Camelot has been the only license holders for the UK National Lottery since its inception in 1994. But from the look of things, their claim for license renewal has been hindered by their consistent failure adapt to changing gambling habits, including smart device technology and the internet. Moreover, their fall from the graces of the UKGC is also fueled by the fact that there has been a significant drop in lottery funding for worthy causes. Considering that the primary aim for starting the National Lottery in the first place was to get more funds to support a range of different causes to lift the community, Camelot is in a real fix.

Super-Rich Contenders Also Eyeing the National Lottery License

Apart from Amazon, Rothschild, the bank running the marketing for the bids also contacted several other tech companies to take Camelot’s place. Given that Amazon’s snubbed the talks for now at least, it leaves only three billionaire entrepreneurs going head to head to bag the deal of running the UK National Lottery.

Richard Branson, the founder of Virgin Group and the owner of Virgin Bet, a remarkable betting site established in the UK in 2019, is one of the top candidates aiming to strike the deal.  Richard Desmond, a former media mogul, whose company Northern & Shell operates Health Lottery, is also eyeing for ownership of the National Lottery. The third most notable contender is a Czech businessman by the name Karel Komarek, and he is well known for owning a string of lotteries all across Europe.

Unlike the other billionaire moguls, Richard Branson has made it very clear that should he secure the bid, he plans to run the Lottery via a new non-profit organization.

As eligible as the moguls are for taking over from Camelot, it’s still too early to assume that Amazon has altogether quit the race just yet. With their 300 million strong user base, Amazon remains a suitable heir of the UK National Lottery. On top of that, the UKGC thought them fit to take up the mantle, given that they have sufficiently invested in the new age of IoT (Internet of Things) a sector that Camelot appears to be lagging far much behind.