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THE SCAM
A startling investigation has thrown up serious questions about, Lotto Billions, a lottery betting site promising access to international lotteries at discounted rates. The company stands accused of being nothing more than a nefarious scheme operated by a gang of notorious liars and businessmen with unsettling histories.
Their unsuspecting audience is being lured with false promises, setting the stage for this motley crew to potentially carry out a major financial deception.
The façade of Lotto Billions may seem alluring, offering players the chance to participate in major lottery jackpots at remarkably low prices. However, in a break with usual protocols, Lotto Billions’ terms and conditions are neither dated nor displayed as website pages, but just a series of links to Google docs. Presumably a deliberate move on the part of the management to ensure that they can alter these documents at the drop of a hat, should their validity and legality come in to question. A deeper examination of the site’s terms and conditions and the history of its management unravels some disconcerting truths. At the time of this review being published, these Google docs reveal that Lotto Billions only underwrites the lottery bets at its “sole discretion”. Thus leaving winners with the significant risk of not being paid if they win one of the massive jackpot prizes:
Lottery Betting Service
2.1 The following terms and conditions apply for a Customer to place a Bet(s):
2.1.1 Customers can place Bet(s) on the Website, subject to the Lotto Billion Terms and Conditions, based on Customer selected numbers, or Quick Pick for a Lottery Game based on a specific Lottery Draw.
2.1.2 Bet(s) may be underwritten by an insurance policy, placed with an Insurer at the sole discretion of Lotto Billions.
Lottery Betting Service Prize Policy
4.2 Lotto Billions may at its sole discretion void a Bet(s) or Bet(s)s if one of the following events occur
4.2.2 Where Lotto Billions has made a genuine or bona fide mistake or error, either human or technical such as calculation of incorrect odds, display of incorrect odds, failure to update odds or other technical error related to website, which result in an erroneous win;
4.2.9 Where there has been a genuine human or technical error resulting in acceptance of a Bet(s) which would ordinarily be accepted.
The company’s liability clauses raise even more concern, as it attempts to absolve itself from any substantial financial responsibility. In the event of an uninsured jackpot, winners are left with just two compensation options – a mere refund of the original ticket price or a capped payout of €500, a fraction of the promised rewards:
15. Liability
15.1. To the extent permitted by applicable law, we will not compensate you for any reasonably foreseeable loss or damage (either direct or indirect) you may suffer if we fail to carry out our obligations under these terms unless we breach any duties imposed on us by law (including if we cause death or personal injury by our negligence), in which case we shall not be liable to you if that failure is attributed to: (i) your own fault; (ii) the fault of a third party unconnected with our performance of these terms (for instance, problems due to communications network performance, congestion, and connectivity or the performance of your computer equipment); or (iii) any other events which neither we nor our suppliers could have foreseen or prevented even if we or they had taken reasonable care. As this service is for consumer use only, we will not be liable for any business losses of any kind.
15.2. In the event that we are held liable for any event under these terms, our total aggregate liability to you under or in connection with these terms shall not exceed (a) the value of the bets and or wagers you placed and or lottery tickets you have purchased via your account in respect of the relevant bet/wager or product that gave rise to the relevant liability, or (b) €500 in aggregate, whichever is lower.
There are additional red flags too. Every online gambling company must adhere to rigorous anti-money laundering policies. They must publish them too. However, Lotto Billions conspicuously lacks the detailed AML policy on its website, that is required. This omission is troubling but unsurprising, considering the management’s ties to offshore companies that conduct business with Russia ‘Russian Connections’).
Given the underlying concept of the lottery business, it is most alarming that Lotto Billions’ ability to pay out jackpot winnings does not appear to be a certainty. An insider source no longer with the company revealed that unlike reputable lottery betting operators, Lotto Billions does not plan to insure every ticket they sell. They also lack the financial resources to cover large payouts (which can run to millions if not billions of dollars) if there is a winner. Lotto Billions seems to claim to have policies with multiple companies. Not only is this highly irregular but if true, means that it is very easy for them to to mislead insurance providers, as no individual insurance provider will know if the tickets are not insured. This deception puts the entire lottery betting industry at risk. Lotto Billions is building a house of cards that could collapse if someone hits the jackpot, leaving winners empty-handed and damaging trust in the lottery system. Oversight and transparency are urgently needed to protect consumers from potential fraud.
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