Lottoland launches B2B division
Bet-on-lotteries operator says Lottoland Solutions already receiving "great interest" from industry
Lottoland has launched a B2B arm which the operator believes will be a “game changer” for those looking to offer lottery-based products.
The Gibraltar-headquartered bet-on-lotteries firm, which has enjoyed significant growth over the past few years, has hired former Odobo strategic partner manager Glen Bullen to head up the new B2B arm, which has been named Lottoland Solutions.
And speaking to eGaming Review this morning, Bullen said the recent success of Lottoland was “proof of concept” and that the firm had already opened talks with a number of potential B2B partners.
Lottoland, which offers bets on lotteries from across the globe, protects itself against large pay outs through the arrangement of an insurance-linked securities scheme (ILS) – a scheme normally adopted by insurances companies looking to protect themselves against events such as earthquakes.
And Bullen said Lottoland’s business model would hand operators the opportunity to offer lottery betting while minimising the risk associated with large jackpot wins.
“This product not only provides them with a gateway into one of the largest untapped markets of active players out there, but for their players also to access the largest lottery jackpots in the world that are paying out tens of millions every week,” Bullen said.
“Also our insurance-linked security business model is attractive and reassuring for operators, because it makes our B2B proposition low risk and commercially viable – this is a game changer for operators looking to offer lottery betting,” he added.
Lottoland’s headcount has doubled to approximately 160 over the past two years and the firm recently moved into new modern offices located in Gibraltar’s Ocean Village Promenade.
The firm is led by chief executive and former PartyGaming director Nigel Birrell.