Mifal HaPayis

Mifal HaPayis is the national lottery of Israel. Most gambling is illegal in Israel. The only bodies licensed to provide betting services are Mifal HaPayis[1] and The Israeli Sports Betting Council. In 2012, Mifal HaPayis's annual revenue was estimated at 5 billion a year.[2]

History

Mifal HaPayis headquarters, Tel Aviv
Eilat Sports Center Built by funding of Mifal HaPayis

Mifal HaPayis was established in August 1951 to recruit funding for the construction of a hospital in Tel Aviv. At first, the project's profits were used only for healthcare applications. Later on, when Mifal HaPayis became a national lottery organization, its support was extended to projects in the fields of education, recreation, and the arts.

Mifal HaPayis supports the establishment of children's clinics, hospitals, sport halls, study rooms and school buildings, youth activity and adult education centers, culture halls, the performing arts, and public parks.

In 2007, lottery revenues were 3.848 billion, of which 2.4 billion were granted as prizes and 1.1 billion used for various public projects.[3]

Before 2012, 46% of the profits or 10% of revenues, whichever is higher, was invested in building classrooms and day-care centers. Another 46% was distributed to local authorities, and 7.5% to other projects. A new licensing agreement grants the Ministry of Finance broad oversight and an authority will be established to supervise all legal gambling in Israel. Mifal HaPayis will be required to publish criteria for allocating funding.[2]

Games

Mifal HaPayis Zuta lottery ticket (1976)

People

Chairman

References

  1. Mifal Hapayis lottery sued over shrinking prizes
  2. 1 2 The number's up / Treasury leaves nothing to chance, takes control of lottery, Haaretz
  3. High profits for Mifal Hapayis for 2007 3.848 billion Shekels(Hebrew)
  4. It's not clear whether the payouts are "for" or "to", e.g. whether 5:1 pays the participant $6 or $5 for a winning ticket for which they paid $1.

External links

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