Lottoland Acquires Two Licenses By South African Regulator, Starts Offering Over Thirty International Lotteries

Lottoland Limited, whose online lottery operations are sought after worldwide, has increased its total license count to twelve after securing two permits from South African Western Cape Gambling and Racing Board regulator.

The two licenses in question are a bookmaker one, to be used for offering fixed odds betting to consumers in South Africa (B2C), and a manufacturing license that will be used for development of the company’s own software for business operations in this African nation’s soil (B2B).

Already Live

Despite the fact that the agreement was struck relatively recently…

…licenses are already in effect, meaning that customers in South Africa can now partake in more than 30 lotteries across the entire planet via Lottoland’s local website which offers odds on the outcome of these lotteries.

For the first time in history, SA players can hope for winning such popular, high-paying jackpots as the one on Powerball and Mega Millions, USA’s biggest lottery schemes.

As for the B2B manufacturing license, it would permit Lottoland to form alliances with the country’s licensed bookmakers in order to offer lottery products to their own customers, as well as insurance solutions.

Breaking Records

The British brand’s proprietary risk management solution paid out $101.2 million to a single customer, which the firm uses to bolster its B2B offering and stress its reliance. The record win was made in June 2018 and made the fortuitous player a new Guinness World Record holder.

Lottoland’s Chief Executive Officer, Nigel Birrell, said of the entry to the new market:

“We are pleased to have been granted these licences in South Africa. Lottoland now hold twelve regulated licenses around the world – a great achievement for us and testament to us as a global brand and company.”

“We strongly believe that Lottoland is uniquely placed in the South African market to be able to offer our portfolio of fixed odds lottery products and insurance related services giving South Africans the opportunity to win some of the largest jackpots in the world.”

Tidying Up the Market

Late in 2018, the South African Parliament’s Portfolio Committee on Trade and Industry has introduced the amended National Gambling Bill, for purposes of responding to some new-found challenges.

The altered gambling bill recounts three key issues, which are:

• the reconfiguration of the national gambling board to the national gambling regulator
• addressing challenges in governance
• broadening the national central electronic monitoring system

South Africa’s main online gambling hub is Springbok, one of the largest of its kind on the entire continent.

Source:

“Lottoland goes live in South Africa”, igamingbusiness.com, April 3, 2019.