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Lottoland 15 February 2017

How You'll Receive Your Money

Lottery Payment

When it comes to the lottery, we tend to get preoccupied with dishing out tips on how to win it, and forget about what happens if you do bank a major jackpot. We've been getting more and more questions from our customers about the process our winners go through once their lucky numbers come in, so we've decided to shed some light on this exciting process.

Woman smiling at her phone in a cafe

How Lottoland Works

Lottoland allows members to bet on the outcome of the world's most popular lottery jackpots and bank the biggest prizes around.

Since you're betting on the outcome rather than buying a paper ticket, country restrictions and fixed jackpots are no longer applicable. With us, you can enjoy betting on lotteries from across the globe, giving you a world of choice.

When it comes to smaller prize payouts, we make the payments from the proceeds of bets already made. For the larger jackpot amounts, our insurance companies cover the payouts, no matter how large they are. The diagram below summarises the process pretty nicely. 

Business Model explaining how Lottoland works

Guaranteed Payout

Every bet you place with us is protected by our guaranteed payout scheme, meaning that any win, from £1 to £1 billion, will be paid to you.

Our payout system is licensed by the Government of Gibraltar and regulated by the Gibraltar Gambling Commissioner, the same organisation that regulates the UK's biggest bookies, such as bet365 and William Hill.

What's more, our biggest jackpots are backed up by a number of leading insurers, meaning that regardless of how much you win or how many payments you opt for, you'll get the full sum.

How Are Winnings Paid Out?

All of our jackpot prizes can be claimed as a one-off lump sum, unless specified otherwise. All other prize tier winnings will be paid out in a one-off payment.

Our US lottos MegaMillions and PowerBall, can also be claimed in instalments if you wish. We replicate the payout structure of the official lotteries in America, and therefore, a 35% reduction is made in the total US Jackpots to reflect the tax an official lottery winner would pay.

The MegaMillions and PowerBall Jackpots can be paid out in 30-year instalments, with one annual payment being made for the 30-year term. The level of payments is calculated such that the payments rise 4% from year to year until the full sum has been paid out. Payment can also be offered as a lump sum, payable at 60% of the total annuity amount.

Cash4Life is, of course, paid out in instalments, not a lump sum, because of the nature of the jackpot – cash for life!

The infographic below provides information on how to request a payout. For more details, you can also check out our step-by-step guide.

Infographic explaining in 5 easy steps how to grab your winnings at Lottoland

How Can I Claim My Winnings?

By law, all betting companies, including us, are required to see official ID in order to verify your identity. This prevents our customers from having their winnings claimed by someone else.

We will ask you to upload scans of either your passport or driving license, or alternatively, you can upload these documents to your Lottoland account to speed up the process. Once the documents are uploaded, they should be verified within 24 hours.

Jackpot prizes will be paid into an account chosen by you; however, to prevent money laundering, the account must be in your name and in the country where you reside.

Some wins will appear in your account in a matter of days, while larger prizes may take a few weeks to appear. However, we offer far quicker payment than traditional lottery organisations! Just ask Christina, our record-breaking €90 million winner, who claimed her prize quickly and without delay from Lottoland.

Banner showing the €90 million Eurojackpot winner Christina with her cheque.

Further Questions?

Our customer service team is always delighted to help with any questions or queries you might have about our products or upcoming promotions.

Just click here to contact them, or send an email to [email protected]. 

N
by Nigel
Nigel


Your next chances to become a millionaire:
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Lottoland and this website is operated by EU Lotto Ltd (company number 109514 and registered address Suite A, Ocean Village Promenade, Ocean Village, Gibraltar GX11 1AA). EU Lotto Ltd is licensed by the Irish National Excise Licence Office (Reference number 1011284). It is also licensed by the Gambling Commission for customers in Great Britain under account number 38991 and by the Government of Gibraltar and regulated by the Gibraltar Gambling Commissioner (RGL 085 & 066).

Persons under 18 years of age are not permitted to gamble.

This is a real money gambling app/site. Please gamble safely and only bet what you can afford. For gambling addiction help and support, please contact Extern Problem Gambling at 089 241 5401 (ROI) or visit https://www.problemgambling.ie/.

© 2021 EU Lotto Limited
Lottery Payment - How You'll Receive Your Money

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