Baptism by Fire - success Eurolotto is coming on board!

[daenyboi]

So, if i possibly banned myself from gambling at Cherry Casino does that concern Eurolotto anyhow?


(no time to go trough 500 pages of FaQ and T&C)

 

[HelenT]

Hi there daenyboi, it shouldn't do! You should be able to open an account. Please PM me if you have any issues

So, if i possibly banned myself from gambling at Cherry Casino does that concern Eurolotto anyhow? (no time to go trough 500 pages of FaQ and T&C)

 

[daenyboi]

Hi there daenyboi, it shouldn't do! You should be able to open an account. Please PM me if you have any issues

Its owned by the same company. i dont want to play and then get told that i couldnt play.

So if u could get me a straight answer here would be awesome.

 

[asm]

I cashed around €1000 from this in a month last year. As I recall everything went smooth so I guess that's a recommendation or something of that kind.

 

[HelenT]

I cashed around €1000 from this in a month last year. As I recall everything went smooth so I guess that's a recommendation or something of that kind.

Happy new year, and congratulations! Glad to hear everything went smoothly and wishing you a lucky 2016

 

[Casino2014man]

So if I were to play the powerball and win - as unlikely as that is - at eurolotto - They would pay out over $1 billion?

 

[dunover]

I still fail to grasp the point of this site.

You join for the 'benefit' of being able play international lotteries. You are then paid your winnings not how the nation's lottery intends, but how the site decides to pay you which can be over many years.

So basically this site is working the law of large numbers. Sign up thousands of players which dramatically increases the chance of getting a jackpot ticket via the site, which then proceeds to ration the pay-out while sitting on a large pile of interest-bearing working capital.

Can't fault the business plan, but Joyland springs to mind here and I for one will give it a miss.

 

[sapit222]

Signed up, took the 100% bonus & played for a few minutes until i crashed..
I didnt get the bonus automatic, but the CS was quick & friendly.

The casino part of the site works good.
All games loaded except one.

 

[HelenT]

So if I were to play the powerball and win - as unlikely as that is - at eurolotto - They would pay out over $1 billion?

Hey there! Well, the actual amount we’d payout really depends on the total amount of winners, eventual jackpot amount etc…So if Powerball announce 1 winner and you have a winning bet at EuroLotto; we'd divide the total jackpot and payout accordingly - please see my more detailed answer below! And good luck

The PowerBall offered at EuroLotto is a Bookmaker game based on the American “Powerball” lottery organised by the Multi-State Lottery Association (MUSL). The jackpot winnings payable by EuroLotto/the bookmaker will depend on the number of winning jackpot tickets announced by MUSL, the number of winning bets at EuroLotto and the payable Prize by the MUSL. It is intended that a player at EuroLotto, who chooses to bet on PowerBall is put in the same or in a better economic position as if they had played the underlying lottery.

So, if a EuroLotto player matches all 5 numbers + the powerball:
The jackpot amount will be equal to the jackpot announced by the MUSL, less 35% withheld by the bookmaker. 35% is the approximate amount the US government impose on winning players in taxes.
If a EuroLotto player has a winning bet; AND the MUSL announce a winner; EuroLotto will pay the sum the player would have received if he played and won the Powerball in the US (he would be one of two winners).
As is common with the MUSL Powerball lottery, EuroLotto/the bookmaker also pays out Jackpot winnings over 30 years (the “Annuity Option”). The first payment will be made as soon as possible after the draw, with the next 29 payments at one-year intervals. The level of payments is calculated such that the payments rise 4% from year to year until the full sum has been paid out. The option to receive one lump sum (“Cash Option”) is not yet available at EuroLotto.
For clarity; if a winning ticket is purchased in the US, players can choose to receive the full amount in 30 graduated annuity payments throughout 29 years, minus taxes; or receive approximately one-half the advertised prize amount in one lump payment, minus taxes.

 

[HelenT]

You are then paid your winnings not how the nation's lottery intends, but how the site decides to pay you which can be over many years.

So basically this site is working the law of large numbers. Sign up thousands of players which dramatically increases the chance of getting a jackpot ticket via the site, which then proceeds to ration the pay-out while sitting on a large pile of interest-bearing working capital.

Hi there Dunover, it's intended that a player at EuroLotto, who chooses to bet on PowerBall is put in the same or better economic position as if they had played the underlying lottery.

As is common with the MUSL Powerball lottery, EuroLotto/the bookmaker also pays out Jackpot winnings over 30 years (the “Annuity Option”). The first payment will be made as soon as possible after the draw, with the next 29 payments at one-year intervals. The level of payments is calculated such that the payments rise 4% from year to year until the full sum has been paid out. The option to receive one lump sum (“Cash Option”) is not yet available at EuroLotto...

And just for clarity; if a winning ticket is purchased in the US, players can choose to receive the full amount in 30 graduated annuity payments throughout 29 years, minus taxes; or receive approximately one-half the advertised prize amount in one lump payment, minus taxes.

Thanks for your comments and have a great day,
Helen

 

[dusky]

I feel sorry for anyone potentially winning the lottery on your site if you have to wait 30 years for full payout, what good is that to anyone?

What are the guarantees that you will still be around in 5 years nevermind 30? Crazy site, not for me!

 

[HelenT]

I feel sorry for anyone potentially winning the lottery on your site if you have to wait 30 years for full payout, what good is that to anyone?

What are the guarantees that you will still be around in 5 years nevermind 30? Crazy site, not for me!

Hi there, thanks for your comments! For clarity; if a winning ticket is purchased in the US, players can choose to receive the full amount in 30 graduated annuity payments throughout 29 years, minus taxes; or receive approximately one-half the advertised prize amount in one lump payment, minus taxes. At EuroLotto we don't yet offer the cash option, but we do offer the same annuity payment as organised by the Multi-State Lottery Association (MUSL).

The point of EuroLotto is to offer the best jackpot amounts to players who do not otherwise have the chance to play them ordinarily - i.e. not able to visit retailers in the US in this case. If you were the only winner and took annuity for this prize, you'd receive around $30 million a year - which i'm sure is still great for many

Our 3rd party bookmaker uses hedging mechanisms; Insurance via credible underwriters (such as Lloyds), ILS (Insurance linked securities) and in some fringe cases real lotto tickets to cover our risk in a 100% secure way. Insurers are bound to pay out annuities, so in the unlikely case the bookmaker/EuroLotto closes, annuities would continue to be paid by any company that would take over the assets and liabilities.
Also, I'd like to add that EuroLotto is owned by Cherry.se, a publicly listed company which has been in existence since 1963.

 

[Casinomeister]

Just to explain a little how lotteries work: when lotteries are advertised, they will state how much the jackpot would be worth in 20-30 years. In actual numbers, the jackpot is worth much less than that - it is only worth the lump sum. So when you win the lottery, you are really just winning the lump sum - not the advertised amount...unless of course you opt for the yearly payments for x amount of years. Jackpot payments were explained here by an IGT spokeman at the 2012 G2E.

It's strictly a marketing ploy - and every state that has a lottery is allowed to do this.

Anyway, me thinks Eurolotto is good to go for the Accredited Section. Any naysayers? Speak now!

 

[Casinomeister]

And here they are:
https://www.casinomeister.com/casino-reviews/eurolotto/