Management admitted the crisis to the company's 70 charity partners as it issued an urgent call for investment at the vastly discounted rate of 5p per share. The call has yet to receive backing from investors, and the company would not say how much is needed to keep it afloat.
"The meeting with our charity partners was constructive," said Stuart Handley, the company's communications director. "We remain focused on the future, and so do they."
Handley refused to comment on national newspaper claims that senior members of staff are planning to quit the board, including chairman Tim Holley, a former chief executive of Camelot.
In a statement to the Stock Exchange, Chariot said that approximately £520,000 had been raised for the 20 charities that participated in the four draws held so far.