…that’s at least what Gaming Innovation Group is betting on. The company behind casino giants Rizk and Guts are in the process of launching Lottolands services on it’s platform
But wait a second, what the heck is Lottoland you may ask? The company was founded in Gibraltar in 2013 and only had 7 employees back then. It has grown substantially since and enjoyed widespread success.
The idea of the site is to gather all the world’s largest lotteries into one place, but instead of buying tickets for the official drawings customers bet on the outcomes. Practically it works like any other lottery by picking numbers. Would you be lucky enough to hit big it is Lottoland who will pay you and not the official lottery operator. 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.
This way Lottoland makes it possible for people, who otherwise would have been restricted by geographical location, to take part in some of the most exciting lotteries. For example, it is possible for Europeans to bet on the American Powerball, the world’s without competition largest lottery which currently holds the recorded of the single largest jackpot at a staggering 1.58 billion dollars.
The company also provides digital scratchcards, online table games, card games and slot games, whereby customers can win cash and non-cash prizes.
Lottoland Solutions announced a lottery betting agreement with Gaming Innovation Group (GIG) earlier this year, to allow casinos such as Rizk, Guts and SuperLenny to offer their players to place bets on the outcome of the world’s leading lottery draws.
Will we soon be hearing Rizk bragging about their customers winning billion Euro Powerball jackpots, or read about Mary 64 getting wealthy enough on Mega Millions to buy herself a small island, while the rest of the casino industry is counting peanuts on Mega Fortune Dreams. I guess we will have to wait and see.