It's up for renewal.
Camelot has always run it, but it was sold to the Ontario Teachers Pension Plan in 2010 for £389m. In that time its profits have jumped from £39m to £71m, so the pension fund has had its money back.
It is time to bring it 'in house'.
It is not exactly high-tech and rocket science to run, and a small department of government could do it as a not-for-profit operation.
Cut the ticket price, cut the numbers to, say, forty, cap the top prize and make the other prizes bigger, and do away with the six fig salaries.
Sales are about £6.9bn a year and the breakdown is roughly 50% prize fund, 28% to good causes, 12% in tax to the UK government, 5% to the retailer 5% to Camelot.
Cut out Camelot (or other profit operator) and that's another £350m to good causes.
I stopped when the price doubled and the numbers went up, but I would play again with better odds.