The United Arab Emirates (UAE) broadcast its first lottery drawing April 18 with a top prize of 35 million dirhams (US$9.5 million). According to the Emirates Loto website, the lottery is “the region’s first fatwa-approved, fully digital collectable scheme with an optional entry to a weekly live draw.”
According to Al-Monitor.com, the Sharia-compliant lottery system allows consumers to buy “collectibles” — in this case cards that depict famous sites throughout the UAE — for a fee, and then have the option of entering into a drawing, free of charge.
The main objective is to “donate millions of dollars for the public good and to give back to the community and the country as a whole,” Emirates Loto CEO Paul Sebestyen told Al-Monitor. “The UAE, with its spirit and drive for innovation and entrepreneurship, was the most obvious choice to set up this initiative.”
The lottery is open to anyone over the age of 18. The collectibles may be purchased online and through an app or in UAE retail stores for around $10.
After purchasing the collectible, buyers can opt into a free live draw to win anywhere from $10 million to $13 million in a jackpot of prizes every week. Emirates Loto. One of the first players won a jackpot of $95,303. In the first drawing, a total of 43 players won cash prizes.
“We realize these are difficult times for all,” Sebestyen said, “but we genuinely hope and believe that our new venture will bring much needed relief, happiness and more importantly funds for public good.”
