What do a technology company operating in the iGaming industry and a company that seeks out investment opportunities in startup stages with strong business cases have in common? Let’s talk MegaLotto.
Gaming Innovation Group Inc. (GiG) in partnership with Optimizer Invest is launching a new online betting service for international lotteries and gaming. Both companies offer a great deal of expertise in iGaming and online solutions.
Are we looking at a new betting on international lotteries option or is MegaLotto.com simply going to be another company trying to jump on the bandwagon?
MegaLotto.com and Betting on Lotteries
Targeted for mid-2019, MegaLotto’s will join online companies offering betting on the results of international lotteries. So, what is going to make these folks different?
In GiG’s Chairman’s own words “GiG is uniquely positioned with its B2B solutions and B2C offering covering the whole value chain in iGaming…” This is GiG’s first move from gaming entertainment and sports betting to now include lotteries.
Who is GiG?
Gaming Innovation Group’s GiG Ecosystem includes five services – Platform Services, Casino Services, Sports Betting, Gaming Brands and Media Services – and 18 products.
Some of you might be familiar with some of their Gaming Brands including Rizk, High Roller, Thrills, Guts Betspin and Kaboo. These folks are listed on the Oslo Stock Market and have offices in seven countries. Check out their Malta office – nice work environment.
What About Optimizer Invest?
“Optimizer Invest creates business in two ways. We invest in tech-driven companies that we believe in. The second part is to create companies based on our own business ideas. MegaLotto is an example of the latter. We see great opportunities to once again be driving up a company under our own umbrella, as we have done before with, e.g., Betit Group,” from Petter Moldenius, CEO. “This is an important project, and we are confident GiG is the right partner for us to grow this business into a big player in the industry.”
Optimizer Invest has a nice stable of part-owned companies including Easy Payment Gateway and Hero Gambling.
What Else to be Different?
It will be interesting to see what MegaLotto does to be different. Many of the online betting sites miss the boat with the taxable lotteries deducting what the official lottery would take – particularly US Powerball and Mega Millions. Any betting site doesn’t deduct that 35% tax bill from winnings could become a big winner with people playing there.
The other thing could be prizes to win on odd or even on bonus balls and/or other options outside of the straight tier structure offered by official lotteries. How about the option for both? Let’s take out the split between winners of the official lotteries and winners of the online betting site.
Let’s also add very clear rules and regulations (terms and conditions) on when and how you get your winnings — just a few things to think about.
Stay Tuned for MegaLotto.com
Click on the MegaLotto site online, and there currently is simply an announcement “Something Amazing Coming Soon!” With the combination of talent of these two companies, this does look like it is going to become the big boy on the block quickly.
Then again, how many companies have we seen go from betting on sports/gaming to include lotteries that end up a mash-up?
All we can do is stay tuned and watch as this site comes online!