Aussie Turn To Synthetic Lotteries For The Megamillions Jackpot
The MegaMillions jackpot in the United States has surpassed $900 million (AU$2.25 billion). If Australians gamble through Lottoland, which allows Australians to wager on the results of international lotteries, they have a chance to win significant money.
Lottoland has announced that over 20 000 Australians have placed a wager thus far. A total of 280 million tickets were sold in the last draw, but no one was able to properly anticipate the numbers. The draw will take held on Wednesday, October 24 at 2 p.m. AEDT. In total, 60 000 Australians have approached various synthetic lottery operators to place bets on the result.
Synthetic Lotteries Are Prohibited
The federal government has passed legislation prohibiting the use of synthetic lotteries, which will take effect in January 2019. The synthetic lotteries were outlawed after the Labour Party and the government expressed their displeasure with them. Their concern was that they were syphoning off cash from traditional lotteries.
However, not all newsagents agreed with this decision. They said that if Lottoland ceased operations in Australia, it would have an impact on the competition. The Northern Territory issued Lottoland with an operating licence, and the company began operations in Australia in 2016.
Another company that offers Australian lottery betting services is TheLotter. They think, however, that their operating approach is unique. This is because, rather of wagering on the lottery’s outcome, they purchase tickets for their consumers. They serve a number of nations outside of the United States, including Australia. If an Australian player’s ticket wins the jackpot, he or she will be flown to the United States to collect their prize.
This is not allowed in Australia, according to Mr Luke Brill of Lottoland, because most jurisdictions prohibit companies from reselling overseas lottery tickets. Furthermore, they do not have a local licence in Australia. Check out Australia’s online gambling regulations.
Because it will be illegal for Australians to participate in synthetic lotteries as of next year, they will pounce on the trend as soon as a big jackpot is up for grabs