The launch of a UK lottery site has been recently announced by Tipp24, German lottery company. Lotto24.co.uk, the new site with a license secured from UK authorities, will provide access to a variety of European lotteries.
The launch of lotto24.co.uk followed last week’s launch of Jaxx.com, a sports betting subsidiary of Fluxx.com, Germany.
The interest of the German company in the British market is the result of “uncertainties surrounding the nation’s legislative situation and the possibility that restrictive laws could come into effect early next year”.
Despite uncertainties in German legislation, Tipp24 managed to post record third quarter earnings – almost $4.4 million, yearly revenues p 17% to $41.7 million and earnings before interest and tax up 2.4% to $7.6 million.
The company plans to stabilize its market share in the online lottery market and expects billings and revenues to grow.