Acorn500 is a monthly cash-draw lottery where individuals can support the Association and be in with a chance of winning a cash prize. Participants buy up to a maximum of 5 number chances from 500 unique numbers, which go into a monthly draw. These unique numbers are allocated to participants and registered against their name, each one is £12 annually payable by either bank transfer, cash or cheque. Renewal date is 1st January each year, however payment can be made pro-rata for numbers purchased during the year.
Of the monthly proceeds, 40% are used by the Association for the support of members and 60% for the prize pool
1st prize £100 then balance of prize pool is split 2nd prize 35% (max £70), 3rd prize 25% (max £50), 4th, 5th and 6th prizes ranging between 17.5% and 10%
Acorn500 operates under the Gambling Act 2005. The Promoter is the legal representative of the Association on the License: therefore, is the person responsible for allocating number(s), paying out prizes, and will be the focal point for participants.