Lottoland Proposes Profit Sharing Deal

April 6, 2018 by

In an attempt to work around the potential ban on lottery betting that looks set to be enforced in Australia, Lottoland has put forward a proposal to news and lottery agents that will see them all share profits.

This profit-sharing ploy could help Lottoland’s Australian business stay afloat, should new laws come in to play. The federal government has already announced that they plan to introduce a ban in response to the long-term complaints from newsagents, pubs and clubs that they are losing out on revenue from lottery ticket sales. However the chief executive of Lottoland Australia, Luke Brill has weighed in and said that this possible ban wouldn’t help newsagents and other entities whatsoever as it would push Tatt’s already burgeoning monopoly that runs via Tabbcorp, its parent company.

To counteract the potential ban, Lottoland Australia has proposed that all newsagents would receive 20% profit share from all profits generated from international lotto tickets sold in their establishment. Brill has said that this agreement could amount to sums of several thousand dollars on a monthly basis, and would certainly benefit those that agreed to the deal. He added that they wanted to partner with new agents so that they could also offer customers a greater choice and that they were happy to share profits as it would benefit both parties in the long run.

Newsagents have faced many challenges in recent years due to advancing technology, and the opportunity to earn extra money via a profit share agreement with Lottoland Australia may well prove to be a good move. However, what the ban allows for still remains to be seen.

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