UAE launches region's first 'fatwa-approved' lottery
The United Arab Emirates has launched the region’s first fully digital and live lottery drawing at a time the world economy suffers under the coronavirus crisis.
The United Arab Emirates broadcast its first lottery drawing April 18. The prize: 35 million dirhams, or $9.5 million.
The Emirates Loto is "the region’s first fatwa-approved, fully digital collectable scheme with an optional entry to a weekly live draw," according to the loto's website. In essence, a Sharia-compliant lottery system whereby people buy "collectables" — 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 Emirates Loto is open to anyone over the age of 18 in the UAE and across the globe, and its collectables may be purchased online and through an app or in thousands of retail stores around the UAE for around $10.
