Zeal launches MyLotto24 in Australia despite proposed ban
MyLotto24 launches foreign lottery betting in Australia after agreeing deposit sharing agreement with newsagents
MyLotto24 launched in Australia today after agreeing a revenue sharing deal with the Victorian Newsagents Association (VANA) despite the government’s plans to ban foreign lottery betting.
The Zeal-owned brand has struck a partnership with VANA under which 1200 outlets will offer an in-store payment system called Nparcel for customers to top up their lottery betting accounts.
Victoria newsagents will then receive a 12% cut on in-store deposits and a 3% cut of all online deposits from MyLotto24 customers.
The launch comes as the country’s Turnbull government remains committed to banning foreign lottery betting, having already outlawed wagers on domestic lotteries.
Agreeing a financial deal with newsagents appears to be the key to alleviating the ongoing tension between bet-on-lottery operators and the federal government, if the decision is to be reversed.
Lottoland is also reportedly close to signing a percentage of sales deal with a separate newsagents group.
Ahead of the launch, MyLotto24 Australia country manager Mikael Sundelin said: “As hundreds of thousands of customers will tell you, betting on international lotteries is a complementary add-on to traditional Australian lotteries.
“This pioneering partnership, a convergence of online and in-store, enables newsagents to benefit from lotto betting in a way that has been previously closed to them.”
VANA general manager Chris Samartzis added: “We believe this development removes the need for a heavy-handed ban on the entire Australian lottery-betting market, to a more balanced and considered piece of legislation that is not anti-competitive whilst ensuring consumer protection.
“The unintended consequences of a blanket ban will only serve to erect a monopoly with zero competition in the market place.
“As part of this new service, newsagents, who the proposed bill purportedly seeks to protect, will be able to benefit now and in the future from lottery opportunities that complement existing Australian lotteries in a regulated and disciplined environment,” said Samartzis.
Zeal also reported a Q1 revenue rise of 6.4% today to €72.8m while EBIT hit €9.2m, up from €0.2m in the same period last year.
Total operating performance increased to €39.8m from €24.1m in Q117 driven by a reduction in exceptional prize pay-outs during the quarter as investment in new products and marketing sparked a 59% increase in newly registered customers to 140,000.