Lottoland

Last updated

Lottoland Ltd.
Lottoland
Type Limited
Industry Lottery betting and sweepstakes
Founded2013 (2013)
FounderDavid Rosen
Headquarters Ocean Village Marina,
Gibraltar
Area served
Key people
Nigel Birrell (CEO)
Revenueover EUR 300 million (2016)
Number of employees
over 350 (April 2017)
Website www.lottoland.com

Lottoland Limited is a company based in Gibraltar. One of its main areas of business is offering online bets on the results of more than 30 lottery draws. [8] [9]

Contents

History

Lottoland was founded by David Rosen [10] in May 2013. [11] Based in Gibraltar, the company originally started with seven employees. [12]

Chris Tarrant, who hosted the British quiz show Who Wants to Be a Millionaire? has been the brand ambassador for Lottoland UK since 2014. [13] The company has been the name sponsor of Brookvale Oval in Sydney, the home stadium of the National Rugby League team the Manly Warringah Sea Eagles, since the start of 2017 . [14]

The legally independent Lottoland Foundation, which is based in the German city of Hamburg and is funded by Lottoland, has existed since autumn 2016. [15]

Products

The company provides digital scratchcards, online table games, card games and slot games, whereby customers can win cash and non-cash prizes. [16] [7] Since 2019, the company also offers sports betting. [17]

Lottery betting

To be able to pay out large cash prizes at any time, the company has completed a guaranteed insurance transaction (Insurance-Linked Securities (ILS)) that insures it against high bet payouts. [18] [19] [20] [21]

Lottoland currently has licenses from national supervisory bodies for lotteries [2] in Gibraltar, Italy, [4] the United Kingdom, [5] Ireland, [3] Australia — where it has a wagering license [1] — South Africa, where it has a fixed-odds contingencies license along with B2C and B2B licenses [6] — and Sweden, where it has an online gambling and betting license. [22]

In April 2018, the Australian government stated that it was considering banning Lottoland. [23] Draft laws passed by the Australian parliament in June 2018 will see "synthetic lotteries" such as Lottoland banned in Australia from 2019, with concerns about companies such as Lottoland hurting family-operated newsagencies, being misleading about prizes and contributing to problem gambling. [24] Lottoland then filed a complaint against the Australian Communications and Media Authority, and the Supreme Court of New South Wales ruled in favour of the company. [25]

The lottery companies from the 16 federal states of Germany that have joined together to form the Deutscher Lotto- und Totoblock consider betting on lottery results offered by providers such as Lottoland or Tipp24 to be a violation of the German Inter-State Gambling Treaty (Glücksspielstaatsvertrag). [26] [27] [28]

In 2019, the Swedish Gambling Authority fined United Lottery Solutions, an owner of lottoland.se, for providing the lottery Eurojackpot, which was not covered by Swedish gambling license. In 2020 Lottoland lost its first appeal. [29]

In September 2021, The UK gambling commission (UKGC) announced they would be taking regulatory action against Lottoland. The company was fined £760,000 ($1 million) by the UKGC and cited the reasoning behind the fine as social responsibility and anti-money laundering rule breaches between October 2019 and November 2020. [30]

Figures and structures

Customers and turnover

The company claims a customer base of more than 6 million people from twelve countries (as of June 2017). [31] It generated sales of over 300 million euros in 2016. [32] [33]

Lottoland's growth in sales of 820 percent between 2012 and 2015 enabled it to be placed at number 128 in the Financial Times FT1000 report on the fastest-growing companies in Europe. [34]

Acquisitions and investments

Lottoland took over the German lottery portal Lottohelden at the end of 2015. [35] The company had shares in Jumbo Interactive, an online provider of lottery tickets listed on the Australian Securities Exchange, [36] but sold them in July 2017, two months after their purchase. [37] The company has shares in LottoGopher, a provider of lottery tickets from Los Angeles listed on the Canadian Stock Exchange. [38]

In May 2018, the company acquired the majority share of Giochi24. [39]

Criticism

The business model of Lottoland has been criticised because it takes away money from good causes and charities: many lotteries such as the British National Lottery give a sizeable percentage of ticket prices to charity, while secondary lotteries such as Lottoland do not. [3] [40]

Related Research Articles

<span class="mw-page-title-main">Lottery</span> Gambling which involves the drawing of numbers at random for a prize

A lottery is a form of gambling that involves the drawing of numbers at random for a prize. Some governments outlaw lotteries, while others endorse it to the extent of organizing a national or state lottery. It is common to find some degree of regulation of lottery by governments. The most common regulation is prohibition of sale to minors, and vendors must be licensed to sell lottery tickets. Although lotteries were common in the United States and some other countries during the 19th century, by the beginning of the 20th century, most forms of gambling, including lotteries and sweepstakes, were illegal in the U.S. and most of Europe as well as many other countries. This remained so until well after World War II. In the 1960s, casinos and lotteries began to re-appear throughout the world as a means for governments to raise revenue without raising taxes.

This is a list of the largest jackpots, or prizes, awarded in various lotteries.

<span class="mw-page-title-main">Georgia Lottery</span>

The Georgia Lottery Corporation, known as the Georgia Lottery, is overseen by the government of Georgia, United States. Headquartered in Atlanta, the lottery takes in over US$1 billion yearly. By law, half of the money goes to prizes, one-third to education, and the remainder to operating and marketing the lottery. The education money funds the HOPE Scholarship, and has become a successful model for other lotteries, including the South Carolina Education Lottery.

<span class="mw-page-title-main">Florida Lottery</span> Lottery of the U.S. state of Florida

The Florida Lottery is the government-operated lottery of the U.S. state of Florida. As of 2022, the lottery offers eleven terminal-generated games: Cash4Life, Mega Millions, Powerball, Florida Lotto, Pick 2, Pick 3, Pick 4, Pick 5, Fantasy 5, Cash Pop, and Jackpot Triple Play. A player must be 18 or older to play.

Lotteries in Australia include various lottery related products licensed by The Lottery Corporation, The Lottery Office and Lotterywest Australian lottery companies. Lotteries operators are licensed at a state or territory level, and include both state government-owned, not-for-profit and private sector companies. Most major Lotteries have now moved into the online marketplace.

The West Virginia Lottery is run by the government of West Virginia. It was established in 1984 via a voter referendum. It is a charter member of the Multi-State Lottery Association (MUSL). The Lottery offers games such as Lotto America, Powerball, Mega Millions, and scratch tickets. West Virginia has reinterpreted the amendment to its Constitution that permitted its lottery to include casinos, and thus the West Virginia Lottery Commission also regulates slot machines, which are marketed as "video lottery" and available at several hundred businesses; and five "lottery table games" casinos.

<span class="mw-page-title-main">Connecticut Lottery</span>

The Connecticut Lottery Corporation, also called the CT Lottery, is the official lottery in Connecticut. It was created in 1971 by then-Gov. Thomas Meskill, who signed Public Act No. 865. The first tickets were sold on February 15, 1972. The Connecticut Lottery offers several in-house drawing games; Connecticut also participates in Mega Millions and Powerball; each are played in 44 states, the District of Columbia, and the U.S. Virgin Islands.

<span class="mw-page-title-main">Delaware Lottery</span>

The Delaware Lottery is run by the government of Delaware. Its creation was authorized by the state legislature on May 31, 1974. Its "traditional" games include Play 3, Play 4, Multi-Win Lotto, Lucky For Life, Lotto America, Mega Millions, and Powerball. Delaware also offers Keno, sports betting, and video lottery.

<span class="mw-page-title-main">Gambling Commission</span> UK statutory authority

The Gambling Commission is an executive, non-departmental public body of the Government of the United Kingdom responsible for regulating gambling and supervising gaming law in Great Britain. Its remit covers arcades, betting, bingo, casinos, slot machines and lotteries, as well as remote gambling, but not spread betting. Free prize competitions and draws are free of the Commission’s control under the "Gambling Act 2005"

<span class="mw-page-title-main">South African National Lottery</span>

The National Lottery is operated by ITHUBA Holdings, to whom the licence was granted in 2015. The lottery is regulated by the National Lottery Commission, and was established in 2000.

The National Lottery is the state-franchised national lottery established in 1994 in the United Kingdom. It is regulated by the Gambling Commission, and is currently operated by Camelot Group, to which the licence was granted in 1994, 2001 and again in 2007, but will be operated by Allwyn Entertainment Ltd from 2024.

A lottery is a form of gambling which involves selling numbered tickets and giving prizes to the holders of numbers drawn at random. Lotteries are outlawed by some governments, while others endorse it to the extent of organizing their own national (state) lottery. It is common to find some degree of regulation by governments, like allowing or prohibiting online sales of tickets.

<span class="mw-page-title-main">Eurojackpot</span> European Lottery

Eurojackpot is a transnational European lottery launched in March 2012. As of September 15, 2017, the countries participating in the lottery are: Croatia, Czech Republic, Denmark, Estonia, Finland, Germany, Hungary, Iceland, Italy, Latvia, Lithuania, Netherlands, Norway, Poland, Slovakia, Slovenia, Spain and Sweden.

<span class="mw-page-title-main">Jumbo Interactive</span> Australian lottery company

Jumbo Interactive Limited is an Australian corporation and reseller of lottery games in Australia under agreement with government licensed lottery operator Tatts Group. Jumbo Interactive operates ozlotteries.com, one of Australia's largest e-commerce websites retailing Australian lotteries, such as Saturday Lotto, Oz Lotto and Powerball. Jumbo Interactive is a publicly listed corporation on the Australian Stock Exchange (ASX:JIN).

<span class="mw-page-title-main">Lotto24</span>

LOTTO24 is a reseller of state and charity lotteries on the Internet. The German company brokers tickets for various state lotteries under the LOTTO24 and Tipp24 brands. In addition the company has launched two charity lotteries of their own to promote educational projects. LOTTO24 is a company of the ZEAL Group. LOTTO24 shares were traded on the Frankfurt Stock Exchange from July 2012 to August 2021.

<span class="mw-page-title-main">Unibet</span> Online gambling company

Unibet provides a platform for sports betting, online casino, bingo and online poker to over 11 million customers in over 100 countries. Unibet is a part of Kindred Group–an online gambling operator which consists of 11 brands along with Maria Casino, Stan James, 32Red, and iGame. Today, Unibet has over 1,500 employees and offices in Malta, London, New York, and Gibraltar among others. Unibet launched its first online website in 1999, launched live betting service in 2003 and introduced mobile site in 2004.

<span class="mw-page-title-main">Multilotto</span>

Multilotto is a licensed gambling firm. The company was founded in 2012 is headquartered in Malta. Multilotto is known for offering players the courier service model in 2012 but in 2015 the company changed its business model and is now offering the opportunity to bet on the outcome of a number of international and state lottery draws.

Lottery betting is the activity of predicting the results of a lottery draw and placing a wager on the outcome. Lottery betting is a form of online gambling, run by licensed betting firms, where players place bets on the outcome of lottery draws instead of buying physical or online tickets via official lottery operators.

<span class="mw-page-title-main">TheLotter</span> Lottery ticket purchasing service

theLotter is a worldwide online lottery ticket purchasing service. TheLotter agents physically purchase official lottery tickets on their customers' behalf. The tickets are scanned and uploaded to customer's account before the draw. theLotter offer customers from all over the world an opportunity to play more than 50 of the most popular draws including the US Powerball, Mega Millions, EuroMillions, SuperEnalotto, EuroJackpot, the Australian Powerball and more.

<span class="mw-page-title-main">The Lottery Office</span> Australian online lottery operator

The Lottery Office is an Australian online lottery operator licensed by the Government of the Northern Territory and allows Australians and New Zealanders to play to win from the draws of the largest lotteries in the world, including US Powerball and Mega Millions. Its parent company, Global Players Network Pty Ltd (GPN), has been licensed and regulated to operate lotteries since 2003.

References

  1. 1 2 Perry Williams (14 January 2016). "Lottoland targets Tatts in Uber-style betting shake-up". The Sydney Morning Herald . Retrieved 8 June 2017.
  2. 1 2 "Lottoland takes majority stake in Giochi24". www.igamingbusiness.com. 8 May 2018. Retrieved 18 June 2017.
  3. 1 2 3 Eoin Burke-Kennedy (15 March 2017). "Lottoland site goes up against National Lottery in Ireland". The Irish Times . Retrieved 8 June 2017.
  4. 1 2 "Chi sono i nuovi investitori del mercato italiano?". BorderLine24 – Il giornale di Bari. 31 May 2018. Retrieved 11 June 2018.
  5. 1 2 Ashelm, Michael; Budras, Corinna (17 September 2012). "Dauerstreit um staatliche Wettlizenzen". Frankfurter Allgemeine Zeitung . Retrieved 11 June 2018.
  6. 1 2 "Lottoland goes live in South Africa". iGaming Business. 3 April 2019.
  7. 1 2 . Retrieved on 20 Dec 2021.
  8. ↑ Jan Willmroth (15 March 2017). "Angriff auf ein heiliges Monopol". Süddeutsche Zeitung (Online) (in German). Retrieved 2 June 2017.
  9. ↑ "Lotterien". Www.lottolandcorporate.com (in German). Retrieved 2 June 2017. Details provided by the company with regard to its products.
  10. ↑ Andreas Macho (28 April 2018). "Ohne private Anbieter stirbt der Lottomarkt". Wirtschaftswoche (in German). Retrieved 25 May 2018.
  11. ↑ "Lottoland picks up first lottery messenger licence in Gibraltar" (Press release). igamingbusiness.com. 10 January 2017. Retrieved 2 June 2017.
  12. ↑ "Geschichte". Www.lottolandcorporate.com (in German). Retrieved 2 June 2017.
  13. ↑ Corresponding details in the Internet Movie Database, retrieved on 8 June 2017.
  14. ↑ "Brookvale Oval to be renamed 'Lottoland' as Manly look to NRL future". The Guardian . 2 February 2017. Retrieved 8 June 2017.
  15. ↑ Jan Willmroth: Sechs Falsche. In: Süddeutsche Zeitung (Print), 15–17 April 2017.
  16. ↑ . Retrieved on 8 June 2017.
  17. ↑ Gallagher, Erin-Marie (8 January 2020). "Altenar powers first sportsbook platform for Lottoland". sbcnews.co.uk. Retrieved 10 June 2020.
  18. ↑ Investoren greifen bei Lottorisiken zu. Verbriefung mit Volumen von 100 Mill. Euro. In: Börsen-Zeitung, 24 April 2015.
  19. ↑ Alistair Gray (23 April 2015). "Pension funds take lottery punt in hunt for yield". Financial Times. Retrieved 8 June 2017.
  20. ↑ Albrecht Scheuermann: Der Jackpot ist versichert. In: Göttinger Tageblatt, 19 August 2016. Albrecht Scheuermann: Wenn der Jackpot versichert ist. In: Hannoversche Allgemeine Zeitung, 19 August 2016.
  21. ↑ Lottoland sichert Jackpot-Risiko ab. In: Börsen-Zeitung, 20 August 2016. Dynamik bei Cat Bonds lässt nach. In: Börsen-Zeitung, 7 January 2017.
  22. ↑ "Spelbolag med spellicens". www.spelinspektionen.se (in Swedish). Retrieved 21 February 2021.
  23. ↑ Chung, Frank (5 April 2018). "'Nothing more than a desperate PR manoeuvre'". NewsComAu.
  24. ↑ "Lottoland comes out swinging after government passes ban on lotto betting". news.com.au. 29 June 2018. Retrieved 5 July 2018.
  25. ↑ Hatch, Patrick (18 August 2019). "Lottoland to survive in Australia after court victory". The Sydney Morning Herald. Retrieved 10 June 2020.
  26. ↑ Daniela Stürmlinger (27 August 2014). "Kampf um die Lotto-Milliarden im Internet". Hamburger Abendblatt (in German). Retrieved 8 June 2017.
  27. ↑ "Sind die "Lotterie"-Angebote von Tipp24, Lottoland oder Lottohelden seriös?". Www.lotto.de (in German). Retrieved 8 June 2017. Position of the national lottery providers in Germany.
  28. ↑ Albrecht Scheuermann: Privater Anbieter attackiert das Lotto-Monopol. In: Hannoversche Allgemeine Zeitung, 15 March 2017.
  29. ↑ "United Lottery Solutions Ltd - varning och sanktionsavgift, vadhållning på lotterier och erbjudit lotterier som inte omfattats av bolagets licens 2019-06-19" (in Swedish). Spelinspektionen. Retrieved 21 February 2021.
  30. ↑ "UK Gambling Commission Slams UK Lotto with $1 Million Fine". Gambling News. 24 September 2021. Retrieved 5 April 2022.
  31. ↑ "Arrow(Teer) & Bow gambling result" . Retrieved 14 June 2017. Details provided by Lottoland UK with regard to its customer growth.
  32. ↑ Jan Willmroth (16 April 2017). "Die urdeutsche Lotto-Tradition ist in Gefahr". Süddeutsche Zeitung (Online) (in German). Retrieved 2 June 2017.
  33. ↑ Zulauf für Lottoland. Glücksspiel-Wettanbieter wächst deutlich. In: Die Tabak Zeitung, 28 April 2017.
  34. ↑ Martin Stabe, Ændrew Rininsland, Steve Bernard (17 May 2017). "The FT 1000: The complete list of Europe's fastest-growing companies". Financial Times. Retrieved 13 June 2017.{{cite web}}: CS1 maint: multiple names: authors list (link)
  35. ↑ Seedmatch GmbH (25 November 2015). "Lottoland übernimmt Hamburger Startup Lottohelden. Erster Exit für ein per Crowdfunding finanziertes Startup in Deutschland" (PDF). Www.seedmatch.de (in German). Archived from the original (PDF) on 11 October 2016. Retrieved 13 June 2017. Press information from Seedmatch.
  36. ↑ Sarah Thompson, Anthony Macdonald, Joyce Moullakis (20 April 2017). "Lottoland raids ASX-listed lottery tickets seller". The Australian Financial Review . Retrieved 8 June 2017.{{cite web}}: CS1 maint: multiple names: authors list (link)Bridget Carter, Scott Murdoch (5 May 2017). "Jumbo Interactive jumps as Lottoland buys more tickets". The Australian Business Review. Retrieved 8 June 2017.
  37. ↑ Amsel, Peter (3 July 2017). "Lottoland sells Jumbo Interactive stake two months after purchase". CalvinAyre.com.
  38. ↑ James West (22 May 2017). "LottoGopher Holdings (CSE:LOTO) CEO James Morel: A Visual Podcast". Www.midasletter.com. Archived from the original on 31 July 2017. Retrieved 13 June 2017. "LottoGopher erobert US-Lottomarkt: Gigantisches Wachstum voraus". Www.sharedeals.de (in German). 24 May 2017. Archived from the original on 6 June 2017. Retrieved 13 June 2017.
  39. ↑ "Chi sono i nuovi investitori del mercato italiano?". Borderline24 (in Italian). 31 May 2018.
  40. ↑ "Curacao Li̇sansli Bahi̇s Si̇teleri̇". Sanalistanbul (in Italian). 28 August 2021. Archived from the original on 5 September 2021.{{cite web}}: CS1 maint: unfit URL (link)
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.