LottoLand has become quite a popular site for Australian gamblers to have some fun on. However, things are looking bleak for the gambling operation, as many of Australia’s states seem to be turning their back and banning LottoLand. The latest news indicates that New South Wales (NSW) is planning on banning the website and other similar sites, known as ‘synthetic lotteries’.
LottoLand Brings Interesting Concept to Australia
LottoLand is an interesting concept, where players are able to wager on the outcome of a lotto, rather than participating in the draw itself. The company is based in Gibraltar and allows Aussie gamblers to bet on the outcome of major lotteries from around the world. These include the likes of the EuroMillions lotto from Europe and America’s Powerball. Betting in the actual lottery itself would violate many Australian gambling regulations, but there is nothing preventing players gambling on the outcome of a draw.
Because players are not actually taking part in the lottery they’re betting on; any prizes won are drawn from a AU$100 million insurance policy. This policy is maintained directly by LottoLand. LottoLand arrived in Australia back at the beginning of 2016, after it was granted a gambling license by the Northern Territory. After gaining its license, it set about with an aggressive marketing strategy to gain market share.
LottoLand Bans Spreading
New South Wales has announced its intentions to restrict the operations of synthetic lotteries like LottoLand. NSW is claiming that LottoLand, and its peers, do not offer the same customer protection as domestic lottery programs. It also claims that this type of gambling could be misleading. This is because players may not understand that they are betting on the outcome of a draw, rather than taking part in it.
If New South Wales goes ahead with its ban, it will be the third in Australia to do so. The first ban came from South Australia, who banned the site last month. They were soon followed by Western Australia. One of the other issues cited by some is that the site gives nothing back. Compared to domestic lotteries, like LotteryWest, which pays millions of dollars back, funding community projects.