Supreme Court has cleared the jackpot lottery product of Lottoland Australia which was banned by the Australian Communications and Media Authority (ACMA) earlier in June this year.
The ACMA had banned the Gibraltar-based Lottoland’s jackpot after it launched an investigation and found that several Lottoland online jackpot betting services were games of chance which are prohibited.
These included the Mon and Wed Jackpot, Tue Jackpot, Thu Jackpot, US Millions, and US Power jackpot betting services.
However, in the Court’s eye, the jackpot offered by the company was not violating the existing Australian gambling laws.
Commenting on the apex court’s decision, Luke Brill, Lottoland CEO, said: “The Supreme Court of NSW has today confirmed that Lottoland Australia’s jackpot betting products are fully compliant with Australian law.
“Lottoland Australia has always maintained that ACMA’s view of our jackpot betting products is wrong, unfair, and uncompetitive—and today I am pleased to say that we have been vindicated.
“With this matter now settled, Lottoland Australia can finally get on with what it does best – providing new and exciting products that Australian punters love.”
Lottoland has developed its own jackpot betting which is not based on lottery draws. The winning numbers are ascertained by pulling pseudo-random numbers from financial markets at their opening times, including the New York Stock Exchange.
While taking the regulatory body to court Lottoland was confident of complying with existing gambling regulations.