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Lottoland granted full insurance licence

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Lottoland granted full insurance licence
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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.

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Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity

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Kore Digital Mining Ltd, a UK based Bitcoin mining company, announces that effective 1st May 2024, an additional 14 PH/s mining capacity will be added to its existing infrastructure.

This additional capacity will be provided by a major Bitcoin mining corporation and will be operational until 30th June 2024.

Derek Nisbet, Kore’s Founder & CEO, said – “We are pleased to work with a leading Bitcoin Miner in securing a large amount of mining capacity, for a 2 month trial period. We look forward to hopefully extending this period and engaging more with major mining corporations offering Bitcoin hashing opportunities, in the future.”

This additional 14PH/s Bitcoin mining capacity adds to the existing 2 PH/s currently operational with Kore’s own infrastructure and an additional 4 PH/s is due to be added over the next quarter, totalling 20 PH/s.

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The Benefits of Playing at EU Casinos

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There are many EU casinos that not only attract players from Europe itself but also from countries around the world, including the US, UK, and even those from countries where online gambling isn’t permitted. So why is it that EU casinos are so popular? What drives the online gambling community to these casinos?

Well, that’s what we’re going to be looking at today. What’s so attractive about EU casinos to people who are looking for an immersive and entertaining online casino experience? Why do people in the USA, the home of Las Vegas, go outside of the USA to play at online casinos?

Benefits of EU casinos

Online gambling is by far one of the most popular methods of gambling online. Throughout Europe, specific laws in each country can vary, so access to land-based casinos can sometimes be few and far between. Thus, going online to enjoy a casino experience has become a more preferable option. And so why EU casinos? Well, for those who are joining EU casinos from outside Europe and not from the UK or the US, the English-based support and customer service are very attractive. A lot of people who play at EU casinos access it using a VPN or from a country where they don’t have any domestic online casinos, and most of the time English is their first language or one that they can understand.

The next attractive factor regarding EU online casinos is safety and security. Each online casino in the EU is strictly regulated and licensed. It’s this reassurance that a lot of players look for when choosing an online casino to go to and play at. They are held to the same strict and high standards as those of their British counterparts in the UK, which are upheld and monitored by the UK Gambling Commission. In the EU, a lot of the casinos are also regulated by either the Malta Gaming Authority or the Curacao Gaming Licence Authority. All of which share the same standards and expectations as other authorities across theglobe,e which ensures that all players playing online at EU casino websites.

The casinos that are available online in the EU are also very open to a lot of different payment methods. There are even some crypto casinos where you can play casino games online with cryptocurrency. This openness to accepting a lot of different payment methods means a lot to people who like to play at online casinos. The vast majority of them also pride themselves on providing very quick withdrawals, which are measured in hours rather than days. After all, there is nothing more frustrating than having a big win and then having to wait days to get your hard-fought winnings.

And lastly, bonuses and promotions. The vast majority of EU online casinos will have a wide range of different bonuses and promotions that you can sign up for and take advantage of. There are certain countries, such as Sweden, where the online casinos are strictly limited to one bonus or one promotion; however, the vast majority of EU casinos are not subject to such restrictions and offer a great online casino experience.

When it comes to the popularity of EU online casinos, it is growing year on year. There is plenty going in their favour and more people than ever before are shifting to online casinos rather than having to go down to the casino themselves. The fact that they can access these EU casinos from their smartphones, wherever they are, means it’s easier than ever before to win big at a casino online and have a good time.

 

 

 

 

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William Hill Announced as Official Betting Partner of Qipco Guineas Festival

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Leading bookmaker becomes official betting partner of first UK Classic meeting of 2024

William Hill has been announced as the new official betting partner of the Qipco Guineas Festival, the first UK Classic meeting of the season.

It’s the latest addition to William Hill’s spring racing roster, following sponsorship of The Lincoln Handicap at Doncaster, the Punchestown Champion Chase and its status as official betting partner of the Randox Grand National Festival.

The 2,000 and 1,000 Guineas headline the three-day meeting and the leading bookmaker will sponsor 15 races across the weekend with the Jockey Club Stakes, Palace House and Dahlia Stakes among the races now featuring the William Hill title.

Aidan O’Brien’s unbeaten superstar City of Troy is still all the rage for the 2,000 Guineas at 4/6 whereas Karl Burke’s Fallen Angel heads a competitive looking 1,000 Guineas market at 7/2.

“We’re delighted to become the official betting partner of the Qipco Guineas Festival, strengthening our relationship with The Jockey Club on the back of a fantastic Grand National Festival,” a spokesperson for William Hill, Lee Phelps, said. “It’s brilliant for William Hill to be associated directly with such a prestigious event at Newmarket, the home of the thoroughbred, for this season’s first two Classics. The company has a close connection with the history of the 2,000 Guineas as William Hill himself bred the 1949 winner, Nimbus, who then went on to win the Derby.

“We’re excited to be involved at racing’s key meetings and see the Qipco Guineas Festival as the perfect sponsorship as the British flat season kicks into gear.”

Newmarket – 2,000 Guineas: May 4, 2024

City Of Troy 4/6
Rosallion 4/1
Notable Speech 12/1
Henry Longfellow 12/1
Night Raider 16/1
Alyanaabi 16/1
Ancient Wisdom 16/1
Task Force 16/1
Ghostwriter 16/1
Iberian 20/1
BAR 25/1

Newmarket – 1,000 Guineas: May 5, 2024

Fallen Angel 7/2
Ylang Ylang 4/1
Dance Sequence 5/1
Ramatuelle 10/1
See The Fire 12/1
Content 12/1
One Look 14/1
Pretty Crystal 14/1
Buttons 20/1
Purple Lily 20/1
Porta Fortuna 20/1
Star Style 20/1
BAR 25/1
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