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Lottoland, the Fake 'Lotto'

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Lottoland, the Fake 'Lotto' FACT SHEET - Lottoland, the fake ‘lotto’ that is not a lottery Licenced official lottery operators eg.Golden Lotto betting providers eg.Lottoland, Plus Connect SUMMARY Caskett, NSW Lotteries, Tatts, SA Lotteries & (Collingwood Football Club joint venture with ASX-listed Lotterywest Activistic Limited) Model Entering in a regulated official lottery draw. A set Placing a bet on the outcome of official lottery draws. percentage per game (eg. 60% of the subscription This allows customers to bet for the same jackpots levels fee for all lotto games) contributes to a prize and prizes available. Backed by a sophisticated but reserve pool that funds all prizes. This money is paid potentially risky hedged insurance structure. Essentially out by the relevant licensee in each state. a fake ‘lotto’ that hijacks the random numbers generated by lottery operators and uses them with no context to acquire customers and bets. License arrangements Regulated to operate by each state and territory Lottoland – Online sports betting license(s) issued by the government under relevant State Gaming Acts and Northern Territory of Australia under the Racing and through specific State Lottery Licenses and Permits. Betting Act 1983 (NT). Licenced to accept wagers by Some specific permit periods for each jurisdiction telephone and via the website at www.lottoland.com.au are: NT – 2032, TAS – 2020, SA – 2052, VIC – 2018, Plus Connect - (Collingwood Football Club joint venture NSW – 2050, QLD – 2072 with ASX-listed Activistic Limited) Plus Connect (NT) Pty Ltd ACN 148 004 344 is licensed by the Government of Example: $1 spent on a lottery ticket; equals =: the Northern Territory ("NT Government") under the Government taxes 25%, Prizes 60%, commissions Racing and Betting Act 1983 (NT) to accept wagers via 7.5%, operator expenses 3.5%, operator margin 4% the website at www.magpiemillions.com.au - source Sandon Capital Source: www.lottoland.com.au and www.magpiemillions.com.au Largest prize paid in $70,000,000 million We understand the largest prize paid so far in Australia 2016 by Lottoland is $196,000 est. NOTE: This changes. Division 1 Prizes in 2016 $850 million None - NOTE: This changes. Number of Millionaires 253 Millionaires in 2016 None - NOTE: This changes. Prizes paid in 2016 Over $3.1 BILLION est. approx. 60% of sales We understand the total prizes paid so far in Australia by Lottoland are approx. $6-7 Million NOTE: Changes State lottery taxes paid $1.3 BILLION in 2016 approx. 25% of sales None – Potentially massively profitable-no State tax etc. Number of retailers 4,000 + across 7 states and territories None Operator(s) • Trusted Long standing Australian • Lottoland - Private Company based overseas in Companies Gibraltar with offices in Australia. • Licensed and regulated operators • There are different terms and conditions for • Simple purchasing options lotteries in each country which customers • In-store and online purchasing should read • Syndicates can be purchased for more • Subscription options chances to win • Plus Connect - Private Company based in • Cash payment options available in store Australia for winning tickets. • Online purchasing only • Responsible Gambling Code compliance to • Customers place a bet instead of purchasing a high standards. direct ticket in the draw • No cash payouts Australian Newsagents’ Federation T/as Australian Lottery and Newsagents’ Association Level 1, Suite 1.7 & 1.8 56 Delhi Road, North Ryde, NSW 2113 D +61 2 9978 3473| F +61 2 9978 3499 Who we are: The Australian Lottery and Newsagents’ Association (ALNA) is the peak national body, who along with affiliated state lottery associations, represent these small businesses in almost every rural town, regional centre, urban and metropolitan shopping centre in Australia. Newsagents and Lottery agents are an important and trusted part of Australian communities – and approximately 2.5 million Australians shop at their local agency every day. Our members therefore make a significant contribution to the Australian economy, employing over 15,000 people and generating an estimated annual turnover of $2.5 billion. Agencies have commercial relationships with over 25,000 other businesses, further demonstrating their valuable contribution. We are one of the largest and most trusted independent retail channels in our community. What is ‘lotto’ betting? Is it a lottery? No, lotto betting is a fake lottery, it is a wagering product not a lottery draw. The use of the word ‘lotto’ causes a lot of confusion, as customers who purchase from a lotto betting provider pick numbers in the same way as if they were entering a regulated official lottery draw, but they are not entering a lottery draw. They are placing a bet on the outcome of that draw. In this way, customers in Australia are offered bets on the outcome of global lottery games like US Powerball, which can reach $600m jackpots and the lotto betting provider can also make wagering customers offers like doubling the jackpots on weekly official lottery draws like ‘Oz Lotto’, but customers are not actually entering these lottery draws. The official licenced domestic lottery operators in Australia must in comparison, maintain prize reserve funds to cover winning entries in their lotto draws, which is derived from lottery ticket sales. So, the official lottery providers cannot match the $600m levels experienced overseas or compete with the double jackpot offers now being promoted regularly by lotto betting providers on Australian draws, as their regulated and accumulated prize reserves are not big enough to reach these levels. The largest domestic Megadraw of $31M on 31st December 2016 was overshadowed by a lotto betting provider doubling the potential prize offer to $62M. Herein lies the problem, the relationship between ‘lotto’ betting product and existing pool-based lotteries is a fiction, and in practice simply is a marketing tool: the reason they can double the payout on an official State lottery is because they have nothing to do with that lottery – its sole function is to be the random number generator for their product with no context. Yet they effectively borrow the ‘lotto’ brand by using it in this way to acquire customers and bets. This is not ‘disruption’ it is a fabrication and a hijack! How are prizes on ‘lotto’ bets paid? Lotto betting circumvents the existing lottery licenses and regulation, unlike buying a ticket in an official lottery draw in Australia, where lottery operators rely on their regulated prize reserve funds or a ‘pool’ (derived from the sale of lottery products) to fund jackpots and to offer several planned Superdraws and a Megadraw each year (approximately six $20M Superdraws and one $30M Megadraw Jackpot at Christmas). The lotto betting provider utilises ‘a layered proprietary hedging structure, including a physical hedge, insurance companies, insurance linked securities and self-retention’ (source NOAH Australian Newsagents’ Federation T/as Australian Lottery and Newsagents’ Association Level 1, Suite 1.7 & 1.8 56 Delhi Road, North Ryde, NSW 2113 D +61 2 9978 3473| F +61 2 9978 3499 Conference 2016 - https://www.noah-conference.com/company/lottoland-com/) to manage their risk of paying out on all the winning bets placed. Their selling point is that through this complex but potentially risky financial market type hedging arrangement, they can offer, ‘any type of jackpot for any type of gameplay’ (source NOAH Conference 2016 - https://www.noah-conference.com/company/lottoland-com/). This model in comparison to a regulated lottery pool allows Lotto betting providers to offer wagering customers significantly larger jackpots and lower game prices, for bets on the outcome of both domestic and international lottery draws. Where can customers buy bets on lottery outcomes? Australian residents (excluding South Australia where lottery outcome wagering is illegal) can only buy bets online through the websites of lotto betting providers. They have no retailers selling lotto betting at this time. Who offers lotto betting in Australia? Lottoland – are the primary company offering lotto betting in Australia. They are ‘not a lottery operator and are not a lottery re-seller’ (source NOAH Conference 2016 - https://www.noah-conference.com/company/lottoland- com/), they are a bookmaker and wagering company. Lottoland offer licensed and regulated betting on the outcomes of lotteries in the UK, Germany, Sweden, Eastern European markets & Australia and are expanding into other markets rapidly. Lottoland has offices in both Darwin and Sydney with its global headquarters in Gibraltar, where many of the world’s online gaming companies are also based. They hold Gaming Licenses in both Gibraltar and the UK and an online sports betting license issued by the Northern Territory of Australia under the Racing and Betting Act 1983 (NT) to accept wagers by telephone and via their website at www.lottoland.com.au. They accept wagers on the outcome of lotteries identified on their website (domestic & international) and the major prize winnings are paid out by insurance firms with minor prizes from retained funds. Lottoland passes on the bets to EU Lotto which is a bookmaker based in Gibraltar. There is information about guarantees on Lottoland's site: https://www.lottoland.com.au/payouts and elsewhere on the site it says: "We secure our policies with the world’s leading insurers and we are fully audited by KPMG. Lottoland completed an insurance-linked securities (ILS) transaction in Gibraltar, in order to insure itself against major customer wins. With a €100 million set aside that will be released by KPMG when major jackpots are won." NOTE: They have no relationship or affiliation with official lottery operators who are licence holders in the various Australian jurisdictions. Collingwood Football Club – Magpie Millions - has announced its own online lotto betting model in a joint venture with ASX-listed Activistic Limited, whose subsidiary Plus Connect (NT) Pty Ltd ACN 148 004 344 ("Plus Connect (NT)" is licensed by the Government of the Northern Territory under the Racing and Betting Act 1983 (NT) to accept wagers via the website at www.magpiemillions.com.au .
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