CariboLotto Exposed — When Good Services Are Simply Too Expensive to Try Out
A name like CariboLotto provokes images of pristine beaches, delicious cocktails, and tons of fun. But what hides behind the colorful name? Is CariboLotto a scam or does it enter the ranks of legit online lotto platforms? And if it does, should you even consider this opportunity or spend your hard-earned cash on something else?
These questions are the ones we’re about to answer in the coming CariboLotto review.
For a start, the platform appears to be quite user-friendly and intuitive. The interface is clean and welcoming. In fact, it’s a bit generic and CariboLotto resembles lots of other websites that offer similar online ticket buying services.
Speaking of services, that’s what actually matters. Let’s figure out exactly what you’re being offered and if that opportunity is worth grabbing and holding on to.
Games at CariboLotto.com
First things first – does Caribo Lotto offer actual opportunities to buy lottery tickets? We have to ask this question because we’ve come across numerous websites lately that don’t. Instead of buying tickets on your behalf, they allow you to pet against the results of an official lottery. As a result, you can end up winning a prize that’s determined by… who knows?
CariboLotto’s terms and conditions page is rather succinct and it doesn’t give thorough information about the specifics of the service being offered. What becomes clear, however, is the fact that the platform indeed buys lottery tickets on behalf of its clients. So, that’s a good thing and a definite plus.
The lotteries available for purchase at CariboLotto are a few. These include Powerball and Mega Millions from the US, Quina, and Mega-Sena. The selection is fairly small, especially when it gets compared to what other online ticket buying agencies have to offer. But if you see your favorite game in the list above, you’re probably happy.
This brings us to the next question – the cost of buying tickets through CariboLotto.
As per the terms and conditions, the website charges a flat fee of 2.5 dollars on top of the actual ticket price to purchase on your behalf. That’s quite a high commission but we live in a free world and a market economy. The platform is free to set its prices and you’re free to buy from them or not. So, it’s really up to you to decide if you’re going to buy your tickets from CariboLotto or another platform that could be a bit more affordable.
The payment methods that CariboLotto accepts include credit cards, bank wire transfers, Skrill, Neteller, and Bitcoin payments. These are used to add money to your player account, after which you can buy a lotto ticket of preference.
CariboLotto and Claiming Your Prizes
To make our CariboLotto review comprehensive, we have to mention several important things pertaining to prize claims.
In the event of winning money from the lottery, you’ll have to go through a certain procedure that depends on the amount you’ve acquired.
Unfortunately, CariboLotto charges a very hefty fee for processing prize payments. If you win an amount of up to 5,000 dollars, you’ll be charged a 15 percent clearance fee. For larger sums, the percentage goes down to 12 percent (not including taxes and withholdings), which is still unbelievably high.
Keep in mind that most online lottery agencies don’t charge you anything to process prize payments on your behalf. They make money by adding a fee to the price of the ticket. CariboLotto wants to do both, which really puts its clients at a disadvantage.
Apart from that very unpleasant fact, the prize claim procedure is fairly straightforward.
Smaller prizes are credited immediately to a player’s account. After that, the player can choose to withdraw the money or use it to buy additional lottery tickets. For larger prizes, there can be a more intricate procedure (depending on the lottery’s rules). Players should expect a member of the CariboLotto team to contact them and clarify the steps that will have to be undertaken.
There will also be taxation issues that players are going to be responsible for. Keep in mind that taxes apply in the country that the lotto originates from. It’s also possible for the country that you’re a resident of to tax lotto income. It’s a good idea to check local regulations in order to handle potential double taxation in the best way.
Who Can Play at CariboLotto.com?
CariboLotto has standard terms when it comes to usage rights.
The website is offering its services to people who are legally considered adults in the country where the respective lottery is being paid. If you’re not an adult, you’ll have issues when it comes to claiming larger prizes.
There’s one more thing you have to understand about the provision of services like CariboLotto’s. Some countries restrict online gaming or make it completely illegal. If you live in such a country, you’ll have no access to CariboLotto and its services. Once again – check the local regulations to be on the safe side.
CariboLotto: Who’s Behind It?
That’s the big question, isn’t it?
The website is operated by ABACCO LLC – a company registered in the Caribbean region.
Unfortunately, nothing comes up when you search for the company. There are several enterprises under the name but they operate in other countries and have a completely different niche.
The About Us section of the CariboLotto website doesn’t offer any help either. In fact, there’s whatsoever no information about the entity or the team behind the website. If you’ve read some of our other reviews, you know we consider this a big red flag. Enterprises that are confident in the quality of the service they offer aren’t so secretive about who they are and what they do.
The Contact section of the website is the final big disappointment. There isn’t an actual physical address or a phone number. All you can do is fill out a form or use a support email in hopes of receiving some response.
Other Bits and Pieces
We don’t have a lot to add to the findings we’ve listed above. CariboLotto doesn’t make it easy to research the platform and they don’t really offer any additional perks worth mentioning. If you’re seeking bonuses or syndicate choices, you’ll have to go for another website. Such isn’t available via CariboLotto at the time being.
The website does have a News section but it’s currently empty. There’s also no information about people who have played via CariboLotto and who have won something.
CariboLotto’s Facebook page has only 71 likes and the latest publication is from June 2020. So obviously, it doesn’t offer any additional information worth mentioning. CariboLotto’s reviews section on Facebook is empty and there are no interactions between clients and the lotto operator. Reviews and testimonials are also unavailable elsewhere on the web.
The Bottom Line at CariboLotto
CariboLotto’s service is not good. We’re not happy about reaching this conclusion but the platform doesn’t offer anything worth mentioning and pointing out as good. Adding unacceptably high fees and charges to the mix contributes to an even more gruesome picture.
Should you be using CariboLotto? That’s really up to you. We’ve presented the most important facts and you’re free to reach your own conclusion.
To help you make up your mind, let’s summarize some of CariboLotto’s biggest pros and cons.
CariboLotto buys actual lottery tickets on behalf of its clients
Some of the world’s most popular lotteries are represented
Multiple payment methods are available, including well-known systems and cryptocurrency
The prize withdrawal process is fairly simple and straightforward
The website has a good interface and it looks user-friendly
Currently, there are only four lotteries to choose among
It’s impossible to find any information about the company behind CariboLotto
Ticket prices are fairly expensive due to a 2.5 dollar flat fee
The company charges a very large processing percentage for the payment of all prizes
There are no sign-up bonuses or special perks for members
There is no syndicate play
There you have it! CariboLotto could have some potential in the future but right now, the terms and conditions are far from favorable. The platform isn’t a scam and the service they offer appears to be legit. With such overpriced solutions, however, CariboLotto is far from our number one pick for a good online lottery agency.