The successful licensee will now be awarded with a 10-year fixed term licence, due when the current one expires in 2023, with the winning applicant to be announced in September 2021.

Interested parties have been invited to register as part of the first formal stage of the competition, and applicants that pass the stage will then receive the Invitation to Apply (ITA), to begin their applications

The new licence will provide great flexibility to increase returns to good causes and ensure safe play, to build on the National Lottery’s ongoing success that has raised more than £41bn ($54.5bn) for good causes in the UK, since launching in 1994.

Additionally, the licensee will be required to nurture stronger relationships with distributors of National Lottery funding, to enhance the link between the lottery brand, its players and good causes.

The Gambling Commission said it has seen a healthy amount of interest from a variety of different parties.

Gambling Commission CEO Neil McArthur, said: “The National Lottery is a national treasure. It has a reputation for providing enjoyable games and a high degree of player protection, as well as a rich history of prize giving and returns to good causes.

“We are determined to protect and build on the reputation of the National Lottery. For the fourth licence, we will be evolving our approach to regulation to build on the National Lottery’s huge successes.”

Camelot has operated the National Lottery since 1994, and its current licence expires in 2023.