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Lottery Reassesses Geosweep
Tuesday November 6,2012 : ATLANTIC LOTTERY CORP REASSESSES GEOSWEEP (Update)
Lottery product under scrutiny
The Canadian Atlantic Lottery Corporation is reportedly reassessing its total capital investment of around Cdn$3.85 millionon an equity stake in the British internet gaming company Roboreus and its Geosweep product.
Geosweep is an variation on the normal lottery business model but instead of wagering on a lottery ticket number, the punters buy their favourite "geo" - a specific point in the organising country - in this case Atlantic Canada, where 2.3 million geo’s were arranged for wagering at a cost of around Cdn$7.50 for a month.
While the Atlantic Lottery Corporation (ALC) is declining to reveal sales on the programme, the pilot programme launched earlier this year in the United Kingdom reportedly yielded a daily income of a mere GBP100 .
In July 2012, the Atlantic provinces of Canada were themselves at odds on adopting the programme with Prince Edward Island and New Brunswick each putting up Cdn$4 million on the project, but Nova Scotia and Newfoundland and Labrador declined to get involved.
At the time, PEI Finance Minister Wes Sheridan defended the project saying the Atlantic Lottery needed new products to maintain revenues as income drops from older-type lottery offerings, believing that the GeoSweep project could pay for itself in three years.
More recently, Finance Minister of New Brunswick, Blaine Higgs said the investment is being re-evaluated as the Government is unsure if the game is a viable project for ALC any longer.
3 Top Bitcoin Poker Sites -
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Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
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Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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