Mifal HaPayis

Mifal HaPais is the national lottery of Israel. Most gambling is illegal in Israel. The only bodies licensed to provide betting services are Mifal HaPais[1] and The Israeli Sports Betting Council. In 2012, Mifal HaPais's annual revenue was estimated at 5,000,000,000 a year.[2]

History

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

Mifal HaPais 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 HaPais became a national lottery organization, its support was extended to projects in the fields of education, recreation, and the arts.

Mifal HaPais 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 3,848,000,000, of which 2,400,000,000 were granted as prizes and 1,100,000,000 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 HaPais will be required to publish criteria for allocating funding.[2]

Games

Mifal HaPais Zuta lottery ticket (1976)

People

Chairman

References

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.