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Lottoland granted full insurance licence
Online lotto betting operator Lottoland have yesterday announced that they have been granted an insurance licence by the Financial Services Commission (“FSC”) in Gibraltar in accordance with EU insurance legislation. This newly established insurance company Fortuna Insurance PCC Limited (“Fortuna Insurance”), is a subsidiary of Lottoland Holdings Limited.
Lottoland is the first and only company in the gaming sector to have established its own insurance company – holding itself up to the highest standard with regards to industry best practice and transparency.
Fortuna Insurance will underwrite all the bookmaking risks of Lottoland and will be regulated by the FSC in Gibraltar and the European Insurance and Occupational Pension Authority (“EIOPA”), which will both ensure that Fortuna Insurance will be compliant with the European Solvency II regime. The newly established insurance company will have a board and management team consisting of five experts, who will provide in depth insurance and reinsurance, financial markets, regulatory as well as gaming know-how to the company.
This is a historic milestone for Lottoland – transforming it’s industry leading risk management into its own fully authorised and licensed insurance company. Lottoland’s (re)insurance structure, which combines both risk carrying markets (i) insurance linked securities (“ILS”) and (ii) traditional (re)insurance), consists of the highest coverage in the market for the underlying gaming business (namely, lotto betting). The underlying gaming risk is highly modelled giving an extremely detailed degree of predictability and security to risk carriers as well as Lottoland and its customers. Fortuna Insurance has top ILS investors and rated reinsurers as its counterparts further adding to the robustness of its insurance. It is this structure that gives Lottoland flexibility to innovate driving higher value and jackpots for its customers and investors while always ensuring they can pay-out on all prizes in a timely manner.
Last month, Lottoland announced a second two year ILS transaction, which will now be transferred to sit under Fortuna Insurance. This transaction is fully collateralized through cash trust accounts and letters of credit, and is the largest ever reinsurance deal in the Gambling sector. All previous investors have shown their confidence in Lottoland by participating in the new transaction, and a handful of new investors also come on-board.
Lottoland’s risk management structure has already proven its reliability, covering several major wins. The largest win paid out by Lottoland so far was €22 million and was won by a player from Berlin in 2016. So far, Lottoland players have won over €900 million across its business portfolio. Fortuna Insurance, provides Lottoland with even more flexibility to innovate and offer new games to players.
Other operators can also benefit from Lottoland’s proven lottery insurance solution thanks to Lottoland’s B2B arm Lottoland Solutions. Lottoland Solutions guarantees pay outs on all winnings now through Fortuna Insurance and offers a lottery betting interface that is easy to integrate into existing websites. Customers of William Hill Australia, Kindred Group plc and Gaming Innovation Group plc, are already benefitting from a partnership with Lottoland Solutions.
Lottoland CEO, Nigel Birrell, said, “The fact that Lottoland is the first and only company in the gaming sector to have done this, highlights our commitment to industry best practice and transparency. This is huge step forward not just for Lottoland but also for the gaming industry.”
January 5, London, UK: Babe Casino and BetConstruct partnered up to deliver one of the most dynamic gaming platforms. The online casino is considered highly attractive to players who have an appreciation for a quality gaming experience enhanced by transparency and 100% safety.
The Babe Casino and BetConstruct collaboration shines a welcoming new light on the age old world of online gaming, by adopting a feminine touch that is rarely available in the industry.
Being in league with one of the world’s leading providers of betting and gaming solutions allows all gaming enthusiasts access to unmatched VIP bonuses, top casino games, jaw dropping welcome bonuses and more! In its first year, Babe Casino is nominated for the Best New Casino award at AskGamblers Awards 2018.
Enhanced through BetConstruct, users can visibly witness newfound qualities that provide a unique environment, offering players entertainment and interactive game time that is unbeatable. For players seeking an attentive gaming experience, the casino games are suitably designed for gaming on the go or via PC, making it a popular attraction 24/7. Loyal players are treated to exclusive deals that are alluring to those who enjoy participating in extraordinary bonus deals, industry leading games and free game time. All transactions are protected as Babe Casino and BetConstruct have created a transparently safe and secure infrastructure to assure the privacy of all members.
BetConstruct and Babe Casino strive to enhance the gaming experiences by not only delivering high quality gaming standards, but by also implementing them and keeping existing members pleasantly rewarded through exciting new phases of development for the duration of membership. There’s a load of excitement yet to roll out at this classy, feminine casino, led by the top iGaming entrepreneurs.
About BetConstruct
BetConstruct is an award-winning developer and provider of online and land-based gaming solutions with development, sales and service centres in 15 countries.
BetConstruct’s innovative and proven offerings include an extensive range of market-leading products and services, including Sportsbook, eSports, Sports Data Solutions, Retail Betting Shop Solutions, RNG Casino Suite, Live Dealer Casino and VR Casino, Poker, Skill Games, Fantasy Sports, Social Platform and more.
The multinational iGaming and Sports betting technology partner BtoBet has reshaped its internal structure becoming a larger group today, embracing 2 companies, ITS (I-Trading solution) and IGS (I-Gaming Solutions) that allow the launch of 2 new divisions: BtoBet Sports and BtoBet Games.
ITS is specialized in risk management and trading while IGS is an experienced Games aggregator.
All operating under the same roof and adopting the same foremost technology.
With the new structure, BtoBet offers an even more comprehensive suite of products; Sportsbook platform and services for bookmakers and IGaming Platform and services devoted to the gaming industry.
Commenting on the BtoBet Sports division, BtoBet’s chairman Alessandro Fried stated:
“BtoBet Sports is focused on bookmakers’ needs and sportsbook players’ preferences. A dedicated team ensures the sports-betting brand provides the ultimate betting experience to the bettors. Based on BtoBet’s sports platform Neuron Sport, BtoBet Sports provides a highly customizable frontend for each operator, giving all the tools needed for risk management across all pre-match, live betting and virtual Jackpot betting products.”
About the BtoBet Games division, Fried highlighted:
“This new department is aimed at providing the perfect set of products and services needed for today’s iGaming business. A pull of skilled and dedicated experts assists and satisfies any of operator’s iGaming needs and requirements. The Neuron Casino omnichannel platform, based on Artificial Intelligence technology ensures tailored offers to maximize the effort of delivering the perfect Games offer.”
To conclude, Alessandro Fried announced:
“BtoBet’s new structure offers a bigger trusted team always available to support our Clients in their technical needs by providing advice when needed, flexibility to expand their business and a range of clear and simple products and services. We are able to allow the operators to manage their business autonomously, setting up their own strategies, all without the handicap of technology constraints or the limits of engaging fully-managed platforms. In addition, Btobet is able to supply them all the necessary services to make their own product and offer unique” and concluded “We are proud to present the new BtoBet Group at ICE, stand S1-320.”
About BtoBet
BtoBet is a multinational company and is part of a group with 20 years of experience in software development in IT, finance, telecommunication, e-commerce and banking, strongly committed to technology and widely investing in technology research and development. The experience gained in these advanced environments, allows BtoBet to be visionary in the iGaming and Sports betting industry with a deep understanding of the requirements of the market, catching changing trends and anticipating bookmakers’ and operators’ needs. BtoBet is a true partner in technology, offering a standalone platform and services for the iGaming and Sports Betting industry. It counts on a very talented, continuously trained development team and day to day management support to clients. BtoBet allows licensees to be unique in the market, by giving them the opportunity to completely personalise their offers for Sports betting and iGaming business, online mobile and retail. BtoBet has technical branches with large ever-growing teams of developers in Skopje, Ohrid, Bitola, Belgrade, Nish, Tirana, and Rome. Malta hosts the commercial and marketing centre. Visit our site on: www.btobet.com
NSoft’s VIP client and market leader from Bosnia and Herzegovina Premier Kladionica has enriched its website offer with Lucky Six and Greyhound Races. The games were released on Seven Platform web channel being the first step of complete transition to the new platform.
Lucky Six and Greyhound Races are known as the best performers on the local virtual games market. Premier decided to go with the Seven web channel after excellent results being achieved by the aforementioned games on their retail channel.
The games are available in the area of the Republic of Srpska, Bosnia and Herzegovina.
NSoft and Premier Kladionica will continue their cooperation and integration of other virtual games using Seven Platform.
Having that in mind NSoft is continuing the expansion on targeted markets and preparing to reveal the novelties at ICE Totally Gaming Show in London on February 4-6, 2018.
In order to learn more about the NSoft’s upcoming projects book a meeting with our sales team following this link: https://goo.gl/xbjTCW.
ABOUT NSOFT
NSoft provides top quality software solutions for gaming and betting industry, including platform, virtual games, sportsbook, and lotteries.
Our unique approach to customers and creative software solutions positioned us as one of the top providers of innovative products for gaming industry. A combination of great products, great people, and great culture played a key role in our growth. We understand that strong and long-term partnerships are essential for further development, so we joined forces with world’s leading sport data provider – Sportradar. This means our products are available through Betradar’s sales channels.
- SEVEN Platform
- Virtual Games
- Lucky Six
- Lucky X
- Next Six
- Greyhound Races
- Virtual Greyhound Races
- Virtual Horse Races
- Virtual Drag Races
- Virtual Motorcycle Speedway
- Sportsbook
- Pre-Match Betting MTS & Self-Managed
- Live Betting MTS
- Pool Betting
- Lotteries
- World Numbers Service (Developed in partnership with Betradar)
- Betradar (games available through NSoft’s sales channels)
- Virtual Football League
- Virtual Tennis Open
- Virtual Basketball League
It is NSoft’s mission to provide betshop owners with powerful and visually appealing platform, amazing virtual games, and data-packed sportsbook, and help them grow their business.
By developing our state-of-the-art software solutions we are devoted to creating a business environment which will maximize our customers’ sales opportunities and empower their company to reach new levels of growth. Our ambition is to continue building value for customers, stakeholders and partners. You are more than welcome to join us on the journey. We would be delighted to work with you!
Contact emails: [email protected], [email protected], [email protected]
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