Question "LottoLand" how are big winners funded ??

ESCJAMIE

He/Him. High Voltage Only
MM
Joined
Aug 17, 2018
Location
UK South west
Website called Lottoland where you can place bets from lotterys all around the world

even the Powerball in USA which is a MASSIVE $768 Million

Lets say someone wins this via Lottoland HOW would they ever be able to afford to pay the winner ??
 

dunover

Unofficial T&C's Editor
Staff member
webmeister
PABnonaccred
PABnononaccred
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mm3
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May 22, 2012
Location
the bus shelter, opposite GCHQ Benhall
It's a UKGC licensed business and it explains this if you read the terms.

Insurance for large wins and they fund smaller ticket prizes.

Have changed the title to 'how are big winners funded' as opposed to 'scam' to fairly reflect the nature of the topic. :thumbsup:
 

EkJR

Senior Member
MM
Joined
Feb 3, 2018
Location
Glasgow
I'm sure Multilotto do the same and absolutely nothing even remotely dodgy about them!
 

IM_SPORTS

Full Member
Joined
Sep 15, 2018
Location
England
Never would expect the winner to get paid.
just can't trust sites like that.
multilotto is the same thing. cant trust them.
 

ESCJAMIE

He/Him. High Voltage Only
MM
Joined
Aug 17, 2018
Location
UK South west
It's a UKGC licensed business and it explains this if you read the terms.

Insurance for large wins and they fund smaller ticket prizes.

Have changed the title to 'how are big winners funded' as opposed to 'scam' to fairly reflect the nature of the topic. :thumbsup:
Sorry but there isnt a chance in hell they would pay anything like the power ball amount.
 

ESCJAMIE

He/Him. High Voltage Only
MM
Joined
Aug 17, 2018
Location
UK South west
Never would expect the winner to get paid.
just can't trust sites like that.
multilotto is the same thing. cant trust them.
Same no idea how they think they could afford it clearly dodgy
 

IM_SPORTS

Full Member
Joined
Sep 15, 2018
Location
England
Thank you for your email.

We pay out all wins no matter the amount, we have a good insurance for the jackpot amounts.

So all wins on our website are guaranteed to be payed out.

Do not hesitate to contact us in case you need further assistance.

Best Regards,
Cornelia
The Multilotto Team





Just got that email from Multilotto :p
They do have good reviews on Trustpilot but of course all of those reviews are coming from people who are winning small to medium amounts of money.
 

ESCJAMIE

He/Him. High Voltage Only
MM
Joined
Aug 17, 2018
Location
UK South west
Thank you for your email.

We pay out all wins no matter the amount, we have a good insurance for the jackpot amounts.

So all wins on our website are guaranteed to be payed out.

Do not hesitate to contact us in case you need further assistance.

Best Regards,
Cornelia
The Multilotto Team





Just got that email from Multilotto :p
They do have good reviews on Trustpilot but of course all of those reviews are coming from people who are winning small to medium amounts of money.
Hardly going to say

No if you win a Jackpot you will not get it

Thank you

Next
 

IM_SPORTS

Full Member
Joined
Sep 15, 2018
Location
England
Lottoland has paid out 90m to a lucky woman from Berlin and it was approved by the Guinness world records as the largest online gambling payout.

they just paid 90mil ?
straight away ?

I thought it was paid over time in small amounts
 

bowki

Senior Member
MM
Joined
Jun 12, 2013
Location
Germany
Of course I haven't seen any bank statements, but they say they paid the win in one sum. And I tend to believe that when the guys from Guinness confirm it.
 

eizei

Dormant account
Joined
Aug 20, 2013
Location
Finland
An insurance for huge prizes is really commonplace even in non-gambling things such as US sports half-time competitions. The insurance company knows the chances of winning whatever the prize is and in this case they know the exact % chance which is obviously astronomically low. Lottoland/Multilotto are probably paying some amount per every lotto ticket bought which the insurance company has calculated an acceptable ratio of risk/profit for them. Unless you have some more information you've not said here saying it must be a scam and you will never be paid is really stupid and trying to paint them as scammers for no reason.
 

nikantw

Banned User
Joined
Jan 28, 2011
Location
EU
If properly regulated all companies like that are perfectly safe to play and offer bets on lottery events using insurance to cover exposure.

Nothing wrong or "scam" about it. What the RTP is on the Lotteries is what you should ask (and the odds for a big win).
 

Nicola

Closed Account
Joined
Jan 22, 2013
Location
Malta
Multilotto who use to fund good old roshtein with fake money to play hmm haha

Multilotto ripped off Roshtein, thats why he moved to another casino. Would never trust them with a big lotto win! Lottoland on the other hand have billions of insurance cover incase somebody wins the Powerball for example.
 
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