Loterie Romande: 1 million CHF given to the Fondation de l’Aide Sportive for 2020
It comes as no surprise that the circumstances surrounding the 2020 global health crisis has impacted every sector. Faced with such a troublesome phenomenon, some questions were raised concerning the annual funding by Loterie Romande and Swisslos for the Fondation de l’Aide Sportive. However, with the official confirmation of funds in October 2020, the world of Swiss Sports remains confident. CasinoNews takes a look at this exciting news.
1 million CHF transfered by the Loterie Romande et Swisslos
Since March 2020, the Swiss Sports world incurred massive financial losses following the cancellation of games, raising many questions around this unprecedented situation. How can the smaller sports clubs and associations survive against such harsh conditions? Is it necessary for the Loterie Romande to move forward with the annual funding of the Fondation de l’Aide Sportif for 2020?
Various organizations questioned the validity of providing much needed financial aid. Yet, when the Loterie Romande and Swisslos announced the funding of 1 million CHF in the beginning of October 2020, there was a sigh of relief for the clubs struggling after reviewing the impact on their financials. During the announcement, the president of the Loterie Romande squelched concerns by stating that:
“We are very sensitive to the unprecedented circumstances caused by COVID-19 and its impact on the economy, particularly in the Swiss Sports World. As an investment in infrastructure and in future generations, this annual funding demonstrates how essential the lotteries are and will allow young athletes to train for international games and championships.”
Funding provided by high turnout in the Swiss lottery
Despite what might be expected, the Swiss lottery is set to generate positive net profits during 2020. Thanks to the digitalization of Swiss betting, gambling fans have been able to make bets online during the confinement period imposed by authorities. As a result, the net profits will have a positive affect on the sports world. And despite the fear of a second wave, clubs and associations are making more prudent decisions by decreasing expenses as the progressive recovery occurs.
Annual support of 166 million CHF for Swiss Sports
Loterie Romande and Swisslos aren’t the only financial donors for the Fondation de l’Aide Sportive. There’s also more than 166 million CHF in annual support for the purposes of supporting the training and development of young athletes in the best conditions possible. 111 million CHF comes from cantonal bodies and is divided amongst several organizations and associations; while about one-third of the total 166 million (about 55 million) goes to the Fondation de l’Aide Sportive, Swiss Olympics and National Football League.
Every year, the transfer of the funds is managed via the Société du Sport-Toto, which is now dedicated to obtaining these significant funds.
In conclusion, despite the unprecedented consequences surrounding COVID-19, the annual financial support from Loterie Romande and Swisslos reaffirms the interest and investment in players. With the help of the digitilization of services for the lottery and sports betting, the Swiss Sports world can receive funding for further development. CasinoNews will keep close tr ack of any changes regarding this essential sector in spite of the concerns of a second wave of the coronavirus.