Lotto Kings: A New Way to Try Lotteries

You remember that old movie scene where there is intense betting going on in a casino and then the crowd joins in by betting on who would be the winner. That’s the whole idea of LottoKings. Originally known as CongaLotto, it rebranded itself in 2017 and made a comeback as LottoKings.

The website allows you to place a bet on the outcome of the most popular lotteries around the world. If you are still not sure how it would work, imagine yourself placing a bet on an NBA game between Mavericks and Lakers. However, you won’t be placing a bet on the number of 3 pointers scored. You will be placing a bet on a certain number being the winner of a lottery. The catch is the higher the number of your bets, the higher are your chances to win the lottery. In total, LottKings allows you to place a bet on 20 lotteries. 

LottoKings has been in operation for around 13 years, with one name or the other. In this period, they have claimed to have a base of 200,000 winners. Some of them have even won a $1 million jackpot. However, the website admits that mostly the winners are under $50. But even if you win something as little as $10, there is a very natural question that arises: How are they going to pay?

Jackpot Mechanism

Well, the answer lies in the business mechanism behind the operation of LottoKings. Every single transaction on LottoKings is backed by an insurance policy. This insurance provider is there to make sure that your wins are duly paid. No matter how large or small they are. The catch is a tiny part of your bet goes towards that insurance. Whenever there is a huge draw on LottoKings, they simply call the insurance company and get a cheque drawn in the name of the winner. 

License Information

However, there was an inconsistency that I noticed. Under their FAQ section, they have claimed that they have 200,000 satisfied winners. However, their syndicate page says that they have transferred the winning amount to 13,000 players. One can ignore this inconsistency as online betting sites usually tend to inflate their numbers. This inconsistency deterred me in the beginning but upon checking their license information, I was pretty much sure about its legitimacy. 

CongoLotto, as launched in 2008, and its refurbished version under the name of LottoKings is owned by Legacy Eight. Legacy Eight is a well-established name in the betting market. It is registered in Curacao and is duly regulated by the government of this island nation. So it was perfectly safe for me to play at LottoKings. I went ahead with my registration process and was able to win $25 after I decided to join a syndicate. Did I face any complexity? Naah!!

If you are planning to place bets on lotteries through LottoKings, the first thing that you are going to need is an account with the service provider. The sign-up process is one of the easiest and pretty much standards on its part. You are required to provide your exact name, address, and phone number. The attention needed on your part is to ensure that you are going to provide the correct details. Wrong information might hamper your chances of receiving the payment.

Joining a syndicate is a much better way of playing lotteries and ensured more rewards than playing solo. When you join a syndicate you buy shares of lotteries in a larger pool of tickets. The cost of this pool and the reward is spread evenly amongst its members. The pool simply increases your chances of securing a draw. 

LottKings allows you to place bets on the 20 most popular lotteries that are being played across the entire world. Most of them are from the US and Europe but also include draws from Latin America and Australia. 

The biggest attractions on the website are USA Mega Millions, USA Powerball, Italy Super Enlatto, and the EuroMillions and Euro Jackpot. The highest ever reward was won by a player betting in the USA Powerball.

 There are two modes of purchasing a lottery bet on LottoKings:

1. Single Play and Syndicate Play: Syndicate Play is the pool mechanism that we have already covered. In single play mode, you place bets for yourself. To ensure a win in the single-play mechanism, you should buy at least 4 tickets. 
   
2. Multiple Draws: Using multiple draw mode, you can simply place the same number as your bet in an upcoming draw. This is usually chosen by those who pose a strong faith in numerology and horoscope.

Apart from these two mechanisms, you can use a subscription model where LottoKings automatically places your lottery bets for you in an upcoming draw. I must advise some caution here. If you wish to cancel your subscription before its end date, you are going to be charged $10 as a cancellation fee. 

Betting on the outcome of lotteries is a completely legal activity. Hence the players at LottoKings do not have to worry about legal hurdles of any kind. However, one must confirm whether the local laws allow them to place a bet online. For example, some of the middle east countries like Jordan have explicitly prohibited gambling and betting. 

Apart from this, the following categories of players are not allowed to wager at LottoKings: 

● Citizens of the countries that are under the financial watchdog FATF monitoring. 

● Residents from the USA and Australia.

The website has not published any list of countries from where the players can bet on LottoKings. However, they claim that players from 118 countries are allowed to play. 

Every bet you place on the LottoKings is charged a fee. Here is the biggest downside of placing a bet through LottoKings: The wagering cost is nearly twice as high as that of a ticket bought from a physical store. However, on the other hand, through LottoKings you can place a bet in multiple countries while the physical stores can be accessed in your county alone.

LottoKings does not charge any commission or fee on your winning jackpot. There are two types of hidden fees though: $10 is deducted for subscription cancellation and $5 deducted automatically if you leave your account inactive for a year.

 All of it seems nominal if you have planned your bets. 

But the fact remains that LottoKings charges slightly more than its peers with the same business model. Another downside is none of the bonus rewards and discount coupons worked. 

The payment and withdrawal mechanism is usually smooth but there are some applied conditions. 

Withdrawing Your Reward Can be tricky

• If your winning reward is less than $600, the reward is claimed automatically in your account. 
• For a reward higher than $600, the handling of the reward money varies, depending upon the rules of the lottery provider. 
• For example, if your reward is a jackpot of $1000, the website is likely to send you a physical ticket so that you can go and claim it yourself. 
• Your prize money may be split in special cases. You are definitely not going to like that.
• A downside of the website is its constrained policy on withdrawal. They have not been very clear about how you are going to withdraw directly. The winnings are either paid via wire transfer or through cheque. 

Payment Mechanism

Compared to its other peers, the payment mechanism is itself suffering from a bit of nuisance.

● There are 11 accepted modes of payment overall. But you will need to figure out which of them is going to work in your location.

● All the payments are made in Euros only. So you have to suffer the charges and risks of currency conversion.

Apart from MasterCard and Visa, Skrill and Entropy are the most popular options amongst the users. The website also accepts payments in Bitcoin. Further, you can use debit as well as credit cards.

LottoKings is looking to thrive on a budding model of lottery betting. It may not be the first website that allows you to place a bet on the outcome of the lotteries but it is certainly amongst a selected group. My experience with Lotto Kings was a mixed one.

I was pleased to see the number of lotteries available and the ease with which I was available to set my account up. However, the troubles started after making a payment. My withdrawal of $100 came through a cheque. While many of the similar websites allow direct withdrawal into account, after due deliberations. Also, they have failed to provide other options like Keno and Slot machines. However, the syndicate approach is ingenious and brilliant. So while LottoKings certainty has a ton of things to improve, it can provide you a pleasant surprise. 

Lotto Kings Review

• 1Is it safe?
• 2How to sign up
• 3What to Bet On?
• 4Is it legal?
• 5How much does it cost?
• 6Payment and Withdrawals
• 7Final thoughts

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