Lottoland insures scratchcard and casino portfolio
Bet-on-lotteries operator to insure big jackpots on casino, instant win and scratchcard games
Lottoland has introduced its Insurance Linked Security (ILS) model to scratchcards, casino and instant win games.
The new model is called the Random and insured Number Generator (RiNG) and will allow customers to win large jackpots instantly, with the prizes insured through Lottoland’s insurance infrastructure.
The firm said the new system would allow other operators to offer its high jackpot instant win games, without fearing the big pay-outs.
The RiNG technology is currently live on two games, including the highest value scratchcard in Europe with a top prize of €10m.
Lottoland CEO Nigel Birrell said: “Leading betting operators already work with Lottoland Solutions to provide lotto betting services to their players.
“Now all private and state operators offering casino-style, instant win and scratchcard gaming can work with us.
“It will enable the instant win gaming and younger generation lottery players to get access to high jackpot instant win games, whilst operators can freely decide which prizes they want to offer while we provide the insurance.”
Lottoland set up its own insurance company in Fortuna Insurance last month, with the subsidiary set to underwrite all the bookmaking risks of the operator.