Lifestyle

Mahzooz Raffle Draws Temporarily Paused, Awaits Regulatory Nod

Mahzooz, a well-known raffle draw, will temporarily halt operations on January 1, 2024.

In adherence to gaming regulations, Mahzooz, a renowned raffle draw, has temporarily ceased its operations starting January 1, 2024.

This decision, in line with industry-wide mandates, aligns with the UAE regulators’ objective of establishing a well-regulated gaming environment within the country.

Draws Suspended Indefinitely Post December 30, 2023:

Following the last weekly draw on December 30, 2023, Mahzooz has updated its FAQ section, confirming that no draws will occur until further notice from the regulators.

However, customer accounts will remain active, permitting individuals to withdraw any outstanding balances in their Mahzooz accounts during this pause.

Mahzooz’s Remarkable Journey and Impact:

Since its launch in 2020, Mahzooz has transformed 64 individuals into millionaires, distributing Dh500 million among over 1.8 million winners.

Notably, in 2023 alone, the raffle draw contributed to 33 people achieving millionaire status through its rewarding schemes.

Participants in the Mahzooz raffle purchased a Dh35 water bottle, the proceeds of which were donated to those in need.

Each purchase earned the buyer a line in the Grand Draw, offering an opportunity to claim life-changing winnings while contributing to a charitable cause.

Anticipated Resumption and Regulatory Oversight:

Expressing eagerness to resume operations, Mahzooz aims to restart draws, likely in the first quarter of 2024, pending approval from regulatory authorities.

The company expressed gratitude for the understanding and support of its participants, emphasizing its commitment to transparency, responsibility, and integrity in gaming.

Establishment of Gaming Regulatory Authority in the UAE:

In September 2023, the UAE introduced the General Commercial Gaming Regulatory Authority, appointing veteran US gaming industry executive Kevin Mullally as its chief executive.

This move signifies the nation’s commitment to regulating and overseeing the gaming sector within the country.