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ASA bans Lottoland ad in the UK
The Advertising Standards Authority (ASA) has banned a particular advertising on lottoland.co.uk website after it figured out that consumers could never win the £169 million prize because of tax deductions.
The lottoland.co.uk published an ad on July 27 last year: “PowerBall £169 million,” with tick boxes allowing consumers to pick when to enter and for how many weeks.
A complainant, who was of the impression that the jackpot total was subject to change depending on whether it was paid out in a single lump sum or in instalments, challenged whether the ad was misleading.
EU Lotto said their website, FAQs and terms and conditions referred to the options to take a lump sum or a 30-year annuity and were satisfied that an explanation of the jackpot amount, how it was paid out and the difference between the lump sum and 30-year instalment options were explained clearly.
But the Advertising Standards Authority (ASA) said consumers were likely to understand that the whole £169 million would be paid out in a single sum immediately after the draw if they chose the correct winning numbers.
It noted that a link at the bottom of the home page took consumers to a list of questions, one of which was: “How does jackpot prizing, tax and payouts for PowerBall … work?” which in turn linked to text which stated that Lottoland replicated the pay-out structure of official lottery draws in America which reduced the total prize by 38 per cent to make allowances for tax.
The notes went on to say that, subject to Lottoland’s discretion, players could choose if they wanted to be paid out by lump sum or in 30 year instalments in an annuity package, with a lump sum paid out at 60 per cent of the total value of the annuity amount.
The ASA said that it understood from the explanation that the PowerBall £169 million figure would always be reduced by 38 per cent to allow for the tax that winners in the official lottery would have to pay.
Participants opting for the single lump sum rather than the 30-year term would then receive 60 per cent of the remaining balance.
The ASA said: “We considered that this information needed to be stated prominently in the main ad using wording that consumers would be able to absorb easily.”
“We welcomed EU Lotto Ltd’s stated willingness to make changes. However, because the ad had quoted a prize value that would never be paid because it would always be subject to non-optional deductions and had omitted material information about how EU Lotto Ltd’s pay-out system worked, we concluded that the ad was misleading.”
Lottoland chief executive Nigel Birrell said: “Lottoland accepts the ASA’s findings and has already added more information to the website to further clarify the deductions on the PowerBall jackpot.”
“Lottoland volunteered to make changes to the website as soon as this issue was raised, as we are committed to being fully open and transparent with our customers.”
Source:5star.media
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Tis the season to give back to players with supersized weekly races, massive ticket drops, and the return of the Mini Online Super Series
ACR Poker is kicking off the holiday season in style, officially crowning December as Player Appreciation Month and celebrating its community with $500,000 in giveaways, offering something for every type of player.
Throughout December, ACR Poker’s biggest weekly races – The Beast, Sit & Crush, and Blitz Beast – are getting a serious glow-up as part of Player Appreciation Month. Each week from Saturday, November 29th to Friday, January 2nd, the prizes will be supersized. There will also be a sleigh-load of free tournament tickets dropped throughout December, giving players more chances to score big without spending a dime.
And starting Wednesday, December 17th, the Mini Online Super Series (MOSS) returns to close out Player Appreciation Month. There will be a full schedule of events with buy-ins from $0 to $109 and massive guarantees offered, with the full details released soon.
“I love that ACR is turning the whole month into one big holiday party and giving players a little extra cheer,” said ACR Pro Chris Moneymaker. “Giving back to the players who make this community is a great way to wrap up the year. Alongside supersized races, ticket giveaways and the Mini Online Super Series, players should also keep an eye out for something big from ACR on December 9th during WSOP Paradise. Stay tuned.”
Whether players are grinding tournaments, splashing in cash games, or simply logging in for some holiday fun, December is shaping up to be the most wonderful time of the year at ACR Poker.
For more information about Player Appreciation Month, visit ACRPoker.eu.
The post ACR POKER CROWNS DECEMBER ‘PLAYER APPRECIATION MONTH’ WITH $500,000 IN GIVEAWAYS appeared first on European Gaming Industry News.
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The post INTRALOT Announces Nine Month 2025 Financial Results appeared first on European Gaming Industry News.
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The Board of Kambi Group plc has decided to again exercise the buyback mandate which was received at the Extraordinary General Meeting on 18 June 2025 to initiate a share repurchase programme with a total value of SEK 100 million (€9m) which will run until 20 May 2026.
In line with its capital allocation strategy and empowered by the mandate received at Kambi’s Extraordinary General Meeting on 18 June 2025 (EGM) the board of directors (Board) of Kambi Group plc (Kambi) has today initiated a share repurchase programmes with a total value of SEK 100 million (€9m).
The programme will run from the date of this announcement until 20 May 2026 and shares acquired will be cancelled at a future date. The maximum number of shares that may be acquired is 1,672,887, and the aggregate purchase price for such acquisitions shall not exceed SEK 100 million (€9m). The aggregate number of shares that may be acquired under the mandate received at Kambi’s EGM is 2,990,362, which is equivalent to 10% of Kambi’s total issued shares at the time of the EGM resolution.
The buyback programme will be carried out in accordance with the Maltese Companies Act (chapter 386 of the laws of Malta), the Nasdaq First North Growth Market Rulebook for Issuers of Shares, the EU Market Abuse Regulation (EU No 596/2014) (MAR), and Commission Delegated Regulation (EU) 2016/1052 (the Safe Harbour Regulation). The share buyback programme is intended to benefit from the share buyback safe harbour provisions set out in MAR. To this end Kambi has entered into an agreement with Carnegie Investment Bank AB (Carnegie) to execute the buyback programmes and conduct the share repurchases on Kambi’s behalf.
The acquisition of shares shall take place on one or several occasions on Nasdaq First North Growth market in Stockholm (Nasdaq First North) and Carnegie will make its trading decisions in relation to Kambi’s shares independently of and without influence by Kambi. Payments for the shares are to be made in cash.
The programme will be effected in compliance with the trading conditions set out in article 3 of the Safe Harbour Regulation. In particular, Kambi shall not, on any single trading day, purchase more than 25% of the average daily share turnover on Nasdaq First North. The average daily share turnover is calculated on the basis of the average daily trading volume during the twenty trading days preceding the respective purchase date. In addition, share repurchases under each programme shall:
- not be made at a price higher than the price of the last independent trade or (should this be higher) higher than the current highest independent purchase bid on Nasdaq First North,
- be made at a price per share within the price interval recorded on Nasdaq First North at any given time, i.e. the interval between the highest buying price and the lowest selling price, and
- not exceed or fall below the maximum and minimum ranges set out in the EGM resolution.
At the time of this announcement, the total number of issued shares in Kambi is 29,903,619. Kambi currently holds 2,193,675 of its own shares from prior buyback programmes which will be cancelled on or shortly after 1 December and 400,000 shares held to satisfy Kambi’s future obligations arising from its employee share option programmes.
Information on completed buybacks will be publicly disclosed in accordance with Safe Harbour Regulation and will also be available on the company’s website, kambi.com.
The post Kambi initiates share repurchase programme with a value of SEK 100 million appeared first on European Gaming Industry News.
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