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 and The Israeli Sports Betting Council. In 2012, Mifal HaPayis's annual revenue was estimated at ₪5,000,000,000 a year.

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 ₪3,848,000,000, of which ₪2,400,000,000 were granted as prizes and ₪1,100,000,000 used for various public projects.

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.

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Wikipedia