Lottery is a helpful tool for the economy, according to a new study.
According to SportsEconAustria’s new study, titled The Impact of Lotteries as a Funding Source for European Sport,” European Lotteries (EL) members spent a total of €2.5 billion to good causes on sport, an amount almost equivalent to the gross domestic product of Malta.
“Through the EL-member payments to good causes on sport, a total gross value added of over €1.5 billion is generated in the EU. The contribution to the GDP is thus 0.01 percent, or in other words: every nine-thousandth euro generated in the EU can be traced back to the EL members’ payments for sports directly or indirectly,” the study stated.
SportsEconAustria revealed in its study that EL member payments have created more than 25,000 in 2012, and a further 14,000 so-called “indirect jobs” were ensured “through economic ties with suppliers and upstream sectors.
“A total of over 40,000 jobs were secured through the EL member payments on sport,” according to the study, noting that the number “exceeds the number of inhabitants of Lichtenstein which was at 36,475 in 2012.
“EL members belong to a special and sustainable lottery model which is based on the four following principles: integrity, solidarity, precaution and subsidiarity. Our contribution to employment in Europe during these difficult times of economic crisis clearly shows that when we say that we are driven by principles, like solidarity, it is not just words, but a concrete fact. This special model that enables EL members, driven by key principles, to be a force for good, needs to be safeguarded and recognized, so that the employment benefits of lottery funding are not jeopardized,” EL President Hansjörg Höltkemeier said in a statement.