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Lottoland

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Not to be confused with 1995 film Lotto Land.

Lottoland Ltd.
Lottoland
Company typeLimited
IndustryLottery betting and sweepstakes
Founded2013 (2013)
FounderDavid Rosen
HeadquartersOcean Village Marina,
Gibraltar
Area served
Key people
Nigel Birrell (CEO)
Revenueover EUR 300 million (2016)
Number of employees
over 350 (April 2017)
Websitewww.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]

History

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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

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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

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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]

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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

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Customers and turnover

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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

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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

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The business model of Lottoland has been criticised for taking 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]

Lottoland has also been accused of misleading consumers about the availability of customer support, often taking over six weeks to reply to support tickets. [40][better source needed]

References

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  1. ^ a b Perry Williams (14 January 2016). "Lottoland targets Tatts in Uber-style betting shake-up". The Sydney Morning Herald. Retrieved 8 June 2017.
  2. ^ a b "Lottoland takes majority stake in Giochi24". www.igamingbusiness.com. 8 May 2018. Retrieved 18 June 2017.
  3. ^ a b c Eoin Burke-Kennedy (15 March 2017). "Lottoland site goes up against National Lottery in Ireland". The Irish Times. Retrieved 8 June 2017.
  4. ^ a b "Chi sono i nuovi investitori del mercato italiano?". BorderLine24 – Il giornale di Bari. 31 May 2018. Retrieved 11 June 2018.
  5. ^ a b Ashelm, Michael; Budras, Corinna (17 September 2012). "Dauerstreit um staatliche Wettlizenzen". Frankfurter Allgemeine Zeitung. Retrieved 11 June 2018.
  6. ^ a b "Lottoland goes live in South Africa". iGaming Business. 3 April 2019.
  7. ^ a b [1]. 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. ^ [2]. 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)
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