Swiss earnings derived from gambling are channeled into sports and cultural events.

Swiss earnings derived from gambling are channeled into sports and cultural events.

New Insights on Charitable Use of Lottery and Betting Revenues in Switzerland Revealed

The Federal Gaming Supervision Authority (EGO) has recently unveiled a new study detailing the distribution of lottery and sports betting profits for charitable purposes in the 2023 fiscal year.

EGO's role is to ensure that Swiss citizens engage in lotteries, sports betting, and skill games in a secure and socially responsible manner.Federal Gaming Supervision Authority EGO, Federal Gaming Supervision Authority EGO

As per the study, Swisslot and Loterie Romande, the two leading lottery companies, disbursed 664.4 million CHF last year, a marginal increase from the 651.5 million CHF in 2022. A total of 611.5 million CHF was allocated for charitable purposes in 2023. The breakdown across various categories was as follows:

1. Culture: 248.5 million CHF (41%)
2. Sports: 146.4 million CHF (24%)
3. Preservation of cultural heritage: 46.4 million CHF (8%)
4. Social welfare: 40.7 million CHF (7%)
5. Environmental and development aid: 33.0 million CHF (5%)
6. Education and research: 27.9 million CHF (5%)
7. Youth and education: 17.5 million CHF (3%)
8. Health and disability: 15.0 million CHF (2%)
9. Fund administration costs: 13.2 million CHF (2%)
10. Other charitable projects: 23.0 million CHF (4%)

Additionally, cantons also managed to establish reserves this year. Close to 50 million CHF was invested into a reserve fund in 2023, with funds being withdrawn in times of financial distress.

Population-dense cantons contribute more

As per the report, most of the funds originate from the most populated cantons. Zurich holds the top spot with 108.1 million CHF, followed closely by the canton of Vaud, with Lausanne as the capital, contributing 59.4 million CHF. The least funds for charitable purposes were contributed by Obwalden (1.9 million CHF) and Appenzell Innerrhoden (1.3 million CHF). Here's the complete list:

Canton Zurich: 108.1 million CHF, 2. Canton Vaud: 59.4 million CHF, 3. Canton Geneva: 54.4 million CHF, 4. Canton Bern: 51.0 million CHF, 5. Canton Aargau: 39.8 million CHF, 6. Canton Wallis: 35.8 million CHF, 7. Canton St. Gallen: 30.2 million CHF, 8. Canton Fribourg: 28.1 million CHF, 9. Canton Ticino: 27.1 million CHF, 10. Canton Lucerne: 22.1 million CHF, 11. Canton Neuchâtel: 17.3 million CHF, 12. Canton Basel-Landschaft: 15.9 million CHF, 13. Canton Thurgau: 15.3 million CHF, 14. Canton Solothurn: 14.7 million CHF, 15. Canton Zug: 13.3 million CHF, 16. Canton Graubünden: 13.2 million CHF, 17. Canton Basel-Stadt: 12.0 million CHF, 18. Canton Schwyz: 11.6 million CHF, 19. Canton Jura: 8.0 million CHF, 20. Canton Schaffhausen: 5.5 million CHF, 21. Canton Nidwalden: 2.7 million CHF, 22. Canton Glarus: 3.1 million CHF, 23. Canton Appenzell Ausserrhoden: 3.1 million CHF, 24. Principality of Liechtenstein: 2.6 million CHF, 25. Canton Uri: 2.1 million CHF, 26. Canton Obwalden: 1.9 million CHF, 27. Canton Appenzell Innerrhoden: 1.3 million CHF

The sum allocated varies across cantons, contingent on the gaming activity within each canton. The growing online gambling industry in Switzerland explains the prime position of the financially influential Zurich. According to the report, Zurich alone has channeled 30.4 million CHF into the sports sector.

EGO releases an annual report

EGO releases an annual report in accordance with Article 107, paragraph 1, letter d of the Gaming Act, outlining the use of lottery and sports betting proceeds by the cantons and Luxembourg, which benefits significantly from these proceeds. This is aimed at enhancing the transparency in the application of funds. The cantons submit information through a defined procedure using provided Excel forms.

Why is Luxembourg featured?

Although Luxembourg isn't part of Switzerland's canton system, it shows up in the Gespa report due to its profits from lottery and betting winnings. This tiny nation even has a deal with the Loterie Romande, enabling it to utilize a portion of these earnings for philanthropic causes.

Switzerland and Luxembourg share a tight bond in various sectors. A few of their significant collaborations involve:

• Finance: Intense collaboration in financial regulation, specifically in combating illicit funds and tax dodging.
• Diplomacy: Both countries are influential members of global organizations like the UN and WTO, advocating for shared interests.
• Education and Research: Collaboration on joint projects, mainly under European research programs like Horizon Europe.
• Culture and Media: Joint cultural ventures, such as film collaborations, and encouraging cultural exchange.
• Tax agreements: Contracts to avoid double taxation, ensuring economic advantages in both nations.

Initially, there were hurdles, but with time, systems and processes have improved. However, as per the report, there are still persisting doubts in some cantons, particularly regarding the tracking of fund flows and administrative expenses. Upon random checks, most cantons' declarations are evaluated, with a few undergoing thorough examination. In 2023, thorough inspections were carried out in the cantons of Geneva and Neuchâtel.

Based on the text, here are two sentences that contain the word 'News':

1. The news of the new study on charitable use of lottery and betting revenues by EGO has attracted significant attention.
2. This year, the news of cantons establishing reserves from lottery and betting revenues is noteworthy.

Read also:

• Leverkusen claims victory in the cup, securing a double triumph.
• Alonso achieves a double victory after consuming a German brew.
• Does the SVolt factory in Saarland face stability issues?
• Furor surrounding Sylt scandal footage