Online lotto operator Lottoland has issued a pay-out of €90 million to the winner of the EuroJackpot’s top prize via its Fortuna Insurance PPC subsidiary, which uses financial instruments such as insurance-linked securities (ILS) and collateralised reinsurance to guarantee top prizes.
The win represents the largest pay-out in Lottoland’s five-year history, and the biggest prize pay-out ever for an online gambling company.
Lottoland is the only gaming company to have set up its own insurance company, having established the Gibraltar-based subsidiary in September 2017, with regulation from the Financial Services Commission (FSC) in Gibraltar and EIOPA (European Insurance and Occupational Pensions Authority).
Nigel Birrell, Chief Executive Officer (CEO) of Lottoland, commented: “This record €90 million win is a break-through moment both for our business and the industry as a whole, as it is the largest jackpot pay-out ever across the online gaming and lotto industry. We look forward to breaking more records in the future.”
Lottoland also offers lottery insurance solutions to other gaming operators via its B2B arm, Lottoland Solutions, which guarantees pay outs on all winnings alongside a lottery betting interface that can be integrated into existing websites.
Players on Lottoland’s online platform can bet on many of the world’s biggest lotteries, including U.S Powerball and U.S MegaMillions, EuroMillionaire, and Spain’s El Gordo.
