monzo lotto : if you give yourself a pot and call it lotto pot, you will have the option to make deposits into it and thereafter for every £1 You will get a chance to Win the total of all pots that entered that day or week. Or you could break it into amounts, 1st prize =50%, 2nd prize = 25%, 3rd prize = 10% and then 15 winners getting 1% each.
Good fun and easier than the lotto although I guess monzo would need to acquire a gambling licence or sumit…
Yep and there would be geographical exclusions so it’s excluding some users from the start.
Also, a good idea to encourage gambling?
I’m kinda suggesting it as an alternate to playing the lotto, which is only really making Camelot wealthier, at least using the approach mentioned 100% would be returned or even if you fancy keep 10% for good causes 5% to recognised national causes and 5% to the winners preferred local or national charity / good cause . & even limit it to only being allowed a max ticket purchase like £2 So the same as buying 1 lotto line per week.
I use to play the lotto but it’s way to complicated with x number of games and who knows how many different scratch cards, I just want a simple cheap entertaining chance of winning a few bob… 
I don’t follow on the geographic exclusion, surely if you have a card you can play?
gambling laws in Northern Ireland mean we can’t do the health or postcode lottery. Camelot was a special exemption
There are rules for betting and bingo sites for NI residents
I do think the health and postcode lotto are maybe not so good to be fair so not sure you are missing much but I see your point…
It’s an interesting idea. Maybe one best served by an outside body via the API?
It also makes a good Islamic banking option at the moment (from my limited knowledge). Adding the lottery may reduce this so the outside API would be a good compromise
There’s a really good thread here about Islamic banking. Taught me a lot. I’ll try and find it.
Found it: Islamic Banking 🕌
Heard something on the world service a year or so ago. Fascinating.
I never thought about the idea of games or gambling using our API (or indeed any financial API).
Interesting concept. It would have to be heavily regulated though.
Wouldn’t Monzo still be Islam-compliant if the gambling feature is an opt-in toggle somewhere deep in settings?
But just imagine waking up 1 morning and having 10 million quid in your pot… 
That’s just gonna blow up all and every single one of their fraud checks the second this happens. 
Games and gambling, particularly lotteries, are extremely heavily regulated in the UK.
The reason TV shows ask stupid questions on their competitions (e.g. X factor) is to avoid being classified as a lottery. It’s not a lottery if you have to answer a quiz question to participate.
I suspect we will steer clear of that!
Let’s call it a raffle then…
But just imagine waking up 1 morning and having lost 10 million, gambling works both ways!
Monzo bonds. Ethical bonds which are invested in ethical things and 1 lucky winner gets a Monzo bag for life
That’s one hell of a pot you’d be gambling from
True.
My ex-gf used to work for the Gambling Commission, which is the regulatory body. They were/are based in Birmingham, where I live. This was long enough ago to where their biggest issue at the time was still the compliance of bookmakers. I suspect nowadays their work would be more focused on internet gambling and apps.