Martin Higginson, chairman and chief executive of London-based gaming company NetPlay TV, said: "We plan to keep paying charities along the same lines, but my personal view is that 70 charities is too many. I would like to see fewer charities getting more cash."
NetPlay plans to televise the lottery draw live on Sky channel 847 by mid-February. The company, which is listed on the Alternative Investment Market, bought monday from founding company Chariot last week for £140,500.
The monday lottery started last April with £4.4m from investors and a further £9.6m raised by Chariot from share income. Despite an £8m advertising campaign, it was plagued by technical hitches and poor sales.
Monday has raised £1.65m in unrestricted income for charity partners that include Barnardo's, Shelter and the British Red Cross.