- Lottoz.co.uk offers UK players a chance to bet on their lucky numbers for 14 different international lotteries
- Site is not the first to offer controversial wagers on global lottery outcomes
Even humble lotteries are not safe from the huge changes taking over the online gambling industry.
These days, buying traditional lottery tickets is not the only game in town, as players want to be able to participate in big jackpot draws all over the world, not just their local lotteries.
But there’s a new pretender – Lottoz also now claims to offer a solution to this problem, using possibilities provided by the internet and other modern technologies.
Like Lottoland, the idea is that instead of buying a ticket, players bet on the outcome of the lottery, with the odds and prize money the same.
Lottoz is fully licensed by the UK Gambling Commission, meaning they must adhere to the regulated code of practice.
Participate in 14 international lotteries
Lottoz will become available to the UK players this month via their mobile platform, offering 14 international lotteries to bet on.
Some of jackpots available include hugely popular MegaMillions and Powerball, EuroJackpot, EuroMillions, Oz Lotto, the Irish Lottery, and more.
The platform is operated by company called Morpheus Games. Their vision is to challenge the traditional approach to lotteries and remove geographical borders preventing players from participating in any big lottery draw of their choosing.
That’s not new, but it does mean there’s more competition in the marketplace.
Players can bet on various big jackpots and the company plans to implement even more choices in the future. Companies like Lottoz have to buy insurance, and if a player wins big, Lottoz will claim on that insurance to pay out the prize.
But by circumventing the actual provider of the lottery, the portion of the ticket price that would otherwise go to good and charitable causes will therefore not be forthcoming. This has proven to be a controversial aspect of these third party lottery betting providers.
Currently the UK Gambling Commission makes sure that the sites are clear that players are not participating in the draw, simply betting on the outcome.
Taking lotteries online
According to Lottoz cofounder Kfir Biton, it is high time for the lottery business to change and evolve if it wants to survive and thrive.
The demand from players in any form of gambling increasingly is for instant access to whatever it is they want, and Lottoz is banking on lotteries being no exception.
Biton emphasizes that this new generation of players isn’t used to standing in line or going to a land-based location to pick up their winnings. They are used to getting everything done online, and there is no reason lotteries should be any different.
It is also claimed that such sites will open up lotteries to a new generation of players.
The problem, however, with many lottery betting sites is that they aren’t properly licensed or regulated, which leaves players exposed to numerous risks.
In this regard, Lottoz has a degree of security for UK players.
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