Wed, Jan 30, 1:57pm by Staff Writer
Lottoland’s full portfolio of lottery games has been added to FSB’s platform after an agreement was reached between the two operators.
FSB providers platform gaming services to more than 20 operators and will integrate Lottoland’s instant win and jackpot lottery betting game alongside its existing sportsbook and casino offering, according to iGaming Business.
Lottoland’s current offering allows customers to partner operators to bet on the world’s leading lotteries including PowerBall, MegaMillions, EuroMillions and EuroJackpot.
Lottoland offers betting games on more than 30 lotteries around the world and has paid out more than 1 billion euros since it was founded in 2013.
In 2018, Lottoland paid out the largest ever online gambling dividend of 90 million euros to a German customer after they won a Eurojackpot game.
It underwrites any payouts through its proprietary risk management system.
FSB’s business development director Richard Thorp said the addition of lottery games offering big payouts would give its partners an advantage over rivals.
“As the market evolves, it’s becoming increasingly critical to harness the ability to offer huge jackpots which enhance the playability of our games suits, and this partnership with Lottoland secure that future,” he said.
“Our platform is raising the bar for engaging product portfolios, driving the sector forward via creative features for online, mobile and retail. Needless to say, Lottoland’s games are a natural fit,” Mr Thorp said.
RT iGamingBusiness "FSB is to offer its partners Lottoland’s full portfolio of lottery games after signing up for the operator’s turnkey B2B lottery betting service: https://t.co/BJp520bfWY #lottery #betting pic.twitter.com/BVXMhOUFSA"
— ExecSummary (@execsummary2018) January 29, 2019
Lottoland has been under increasing regulatory pressure in recent times, with the games made illegal in Australian in 2018.
Lottoland recently launched a new product known as “jackpot betting” that determines winners by taking specific numbers from financial markets such as the
Australian Securities Exchange at particular times of the day.
The introduction of a new product comes after the government banned ‘synthetic’ lotteries as they undermine the longstanding community acceptance of official lottery and keno products, according to Communications Minister Mitch Fifield.
Lottoland and other similar agencies from offering customers the ability to bet on international lotteries.
Lottoland claims to have 750,000 users in Australia and offered the chance to bet on the outcome of major American lotteries like Powerball.
The ban on betting on international lotteries came into force despite a last-minute effort from Lottoland to offer a 12 per cent revenue-sharing deal with newsagents, which Liquor & Gaming NSW suggested could be illegal.
Australian Lottery and Newsagents Association (ALNA) boss Ben Kearney, who represents more than 4,000 newsagents and lottery ticket sellers, was concerned that “Lottoland seems to be continuing an approach that may confuse and potentially mislead Australian consumers.”
Lottoland chief executive Luke Brill said the company was not aware of any complaints by the ALNA, which he described as having “a long history of opposing our business.”
“Our newly developed product – jackpot betting – is fully compliant with Australian law, which is why the product has been approved by the relevant licensing authorities,” Mr Brill said.
“Our new products are based on Australian and international stock market indices, which are declared a betting event under Northern Territory law, Mr Brill said.
“Lottoland has included on its website a page that describes what jackpot betting is and we believe our customers know and understand that our new products are not bets on international lotteries,” he said.
There is also concerns about their future in Germany after a court ruled in 2018 that an unidentified lottery betting operator – not Lottoland – had no legal right to operate in the country in response to a case brought by a state lottery operator.
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