New foreign lottery arrives in Australia

MyLotto24, owned by Frankfurt-listed Zeal Network, will launch in Australia this Friday despite the anti “synthetic lottery” campaign.

Australia.- Australian Prime Minister Malcolm Turnbull has been pushing a nationwide ban on “synthetic lottery” but foreign operators continue to arrive. MyLotto24, owned by German company Zeal Network, will launch this Friday after striking a deal with the Victorian Newsagent’s Association.

Newsagencies will receive a 12 per cent cut on all in-store deposits completed in any of their 1,200 outlets that offer in-store payment systems to fund their online lottery-betting accounts. In addition, they’ll receive three per cent for all online deposits made by customers referred to MyLotto24.

“As part of this new service, newsagents — who the proposed bill purportedly seeks to protect — will be able to benefit now and into the future from lottery opportunities that complement existing Australian lotteries in a regulated and disciplined environment,” Chris Samartzis, of the Victorian Newsagents’ Association, said. He also explained that the deal struck with MyLotto24 “removes the need for a heavy-handed ban on the entire lottery-betting market.”

It is still unclear how profitable the deal will be as the federal government pushes legislation to ban lottery services which allow punters to bet on lottery results without buying tickets for any draw.