Mylotto24 enters Australian Market Amid Synthetic Lotteries Ban

Mylotto24 is launching their synthetic lottery services in Australia. This European betting company made a deal with the Local Victorian Newsagents’ Association to offer their lottery services at their 1200 outlets.  The outlets will provide services such as topping up lottery betting accounts online from their in-store payment facilities.

Victorian Newsagents’ Association reached a deal with mylotto24 to get a 12% on all in-store deposits. They will also get 3% for any online deposits that are made by customers they have referred to mylotto24.

A Ban on Lottery Bets from International Gaming Operators

The Australian government is working on introducing a ban on synthetic lotteries. Synthetic lotteries allow players to bet on the outcome of lotteries without buying a ticket.

The decision to ban these kinds of lotteries was influenced by grievances that newsagents had with synthetic lotteries. They complained that these gaming operators are affecting their business because punters see no need to buy lottery tickets instore.

Newsagents supported their statements by also saying that the lottery betting sites are decreasing the tax revenue from lotto ticket sales. The tax revenue helps finance essential things such as public infrastructure and hospitals.

Mylotto24 Working with Newsagents

According to Chris Samartzis, this deal removes the need to ban the lottery betting market entirely. The bill was going to protect the newsagents; however, mylotto24 is showing that there is a much better solution than a complete ban. Now the newsagents will be able to benefit from the opportunities that these lotteries bring in the existing ones.

Mikael Sundelin, a mylotto24 manager in Australia, said that the deal with Victorian Newsagents’ Association is a first of its kind. It is because they will be offering in-store payments services with the Nparcel system. He also said that the newsagents would be benefiting from a channel that was closed to them before.

If you are not familiar with online lottery betting, read our online lotto guide here for more.