LottoPalace – Complaints about Business Practices

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Altair Entertainment Egaming LicenseWe continuously receive whistleblower messages from people around Veltyco since we started the respective reports about Veltyco projects. Yesterday, a whistleblower complaint about LottoPalace.com, a German company and part of the Veltyco Group (see details here). LottoPalace is operating under the egaming license of Altair Entertainment NV, a company closely associated with Uwe LENHOFF, VELTYCO’s head of business development. Altair is the provider of several licenses to VELTYCO brands and companies but provides no information to the public. It’s sort of a stealth company.

Unfortunately, Altair has a build up a bad reputation over the last couple of months as it received several warning from regulators under different jurisdictional regimes for operating the binary options platform Option888 (see the Italian regulator warning for example):

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The National Commission for Companies and the Stock Exchange (CONSOB) reports that the companies Altair Entertainment NvPayific Ltd and Capital Force Ltd are not authorised to provide investment services and business in Italy in any way, including through the website www.option888.com;

LottoPalace as well as Option888 are part of the VELTYCO Group. Given the warnings, customers should be careful when engaging with websites and offerings in the Altair Entertainment environment. The offerings may not comply with the respective regulatory regimes.

Besides the concerns around the LottoPalace operator Altair, we did a quick check on LottoPalace itself and recognized that actually a lot of people are complaining about LottoPalace’s business practices.

Consequently, LottoPalace’s rating on its Facebook page is only 1.2 stars out of 5. Except one 5-star rating all other ratings provide just 1-star and thus the worst possible rating. Reading through the reviews on Facebook one gets an idea about the issues customers have with those practices. Obviously, customers are contacted via cold boiler room calls and often have problems with their payout of their wins.

We would like to learn about your experience with LottoPalace to provide a more detailed review. Please let us have a comment or a whistleblower message.

  1. Mary David says:

    Option888 is a scam. When I wanted to withdraw my Money to my backaccount it was Always the wrong method, and when I try the method that they say it was wrong again. At last I succeded. Two weeks ago they approved my withdrawel and the Money was gone from my account at optikon888, but still, after two weeks, they haven´t arrived to my bankaccount. And Rob Scott seemed not to exist any more. So do not do business with option888, do not listen to Rob Scott, they are just stealing your Money. I had to reach out to a recovery expert/consultant [email protected],com

  2. Walker says:

    Option888 is a fraud company. I have been trying to withdraw my money from them for 5 months now and my withdrawal request remained on pending. I have finally been able to recover the money from them with the help of a pro I read about on the deep web. Happy to share my experience. [email protected]

  3. Wayne Barrett says:

    They are scammers. Impossible to get money from them. I have tried to do 3 withdrawals.
    1 for 190au 1 for 2500au and 1 for 1100au, that is amount i am owed. The money has not come through it has been months. They have changed my real money on my account, 500 winnings was changed to bonus money. 1100au has disappeared from my account. I deposited 1100 and at same time Ben Robbinson bought 1100 of tickets from money in my account, so it looks like 1100 was spent to buy tickets, which it was but then the 1100 deposit did not show so it looked like I bought them with the deposited money but they were bought with money already in account. This is not a company you want to deal with.
    They will give you some small winnings then you build it up a bit, think you are doing ok, so you deposit larger amounts and then good luck trying to get it.
    Read all reviews and there is obviously a reason they are not allowed to trade in a lot of countries.
    Also they are not affiliated with real lotteries they just have insurance that will supposedly pay out if you win.
    Haha they can not pay out hundreds so can only imagine what would happen if someone won 100million, which is how they try to get you in with there advertising.
    Ben Robbinson constantly calls to try to get you to play Scratchie cards but when you have questions or want help you can not get hold of anyone. If you talk on the website message app Ben Robbinson ends up taking over the chat and you get no where.
    There are a lot of bad and similar reviews out there.

    1. Tamir Cohen says:

      Thank you sharing your experience. We suggest to directly turn to the beneficial owners of LottoPalace, the public-listed UK company Veltyco and its main shareholder Uwe Lenhoff who is still manager of Veltyco. We heard thay some clients already successfully recovered their losses through Veltyco.

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