GO FOR GOLD, a scratchcard game to raise funds for the 2012 Olympic Games, was launched in London yesterday. Players will have a one in 4.93 chance of winning one of 11 cash prizes, including the £2,012 jackpot.

More than 11 million £1 cards go on sale from today, when a £6,515,896 prize fund will be up for grabs, Camelot, the National Lottery operator, said.

The scratchcard is part of a series of National Lottery games and television shows aimed at raising £1.5 billion for the Games, which begin in exactly seven years. London plans to spend £2.375 billion on new facilities and an additional £1.5 billion on running costs.

Tessa Jowell, the Olympics Minister, acknowledged that London council tax payers would still have to foot some of the bill. But she added that London would benefit more than any other part of the country.

She told the Today programme on BBC Radio 4: “The Lottery needs to raise altogether £1.5 billion, of which we estimate that £750 million over the seven years between now and the Games will come from the new Olympic lottery game.

“About £340 million will be allocated from existing elite sport programmes, which are funded by the other sport lottery distributor. Anything up to £410 million will be re- allocated from other good causes in the immediate run-up to the Games, depending on the funding needs at the time.”

London council tax payers will pay up to £625 million and the London Development Agency, which promotes jobs and businesses in the capital, will add another £250 million.

The lottery announcement was made by Ms Jowell, Lord Coe, the London 2012 chairman, and Dianne Thompson, Camelot’s chief executive, in East London, where the 2012 Games will be staged.

Ms Thompson, who was joined by the British Olympic champions Denise Lewis, Danny Crates, Shirley Robertson and Daley Thompson, described the lottery initiative as a chance for players to help to “realise the UK’s Olympic dreams”.

She said: “Our message to our players is that this really will be your Games and your chance to contribute to an event that will not only be a catalyst for regeneration in London, but will also create a lasting legacy for sport in the UK.”

The Tories immediately called on the Government to use a predicted £320 million tax windfall from the lottery to help to cut the cost to Londoners of hosting the Olympics.

Hugh Robertson, the Shadow Sports Minister said: “If the Government wants to give its full support to the Olympics and to British sport, it should use this money either as a reserve fund to protect London’s council tax payers from footing the bill for any overspend from 2012 or to create a legacy fund to encourage young athletes.”