Check out this latest email from Lottoland. The headline is the $644 million jackpot. That is what they use to get your attention.
The thing is, $644 million is not even close to what you are paid if your bet wins.
You have to follow the * to get closer to understanding what the ‘win’ is. Even the detail is not readily available.
*Main jackpots for bets on the US Powerball and US MegaMillions are paid out as 30 year annuity or discounted lump sum at Lottoland’s election, and also subject to 35% reduction as per T&C’s. US Powerball is not connected to the Australian Powerball. Bet on Australian & International Lotteries Online.
The marketing email does not directly link to the terms and conditions. If you go to their website you can find them there. They are long and detailed. After reading a while you can see that a win of $644 million is not paid as that, there are hoops to go through, rules that can dilute the amount.
Reading all this at their website leaves one wondering if there is enough there to challenge their marketing approach through Australian ad standards approaches. I know there have been some challenges. More may be helpful.
So when they cut your $644 million by 35% (to emulate the tax that we don’t actually have to pay but an American would), where does that money go? I presume they don’t pass it on to any government. Dodgoland.
Cameron this is a point I have been on about. How can they advertise the jackpot size when this will never be paid out?