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LottoPalace – Complaints about Business Practices

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):



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.

4 Comments

  1. Mary David Mary David May 30, 2018

    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 Walker July 14, 2018

    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. […] Wir haben in den letzten Wochen immer wieder Beschwerden und Anfragen betreffend LottoPalace erhalten. Zuletzt hat ein Kunde sich beschwert, dass er über EUR 10.000 verloren hätte und keine Auskünfte vom LottoPalace Support bekommen würde. Er hätte auch keine Daten über die Betreiber an welche er sich über seinen Rechtsvertreter wenden könnte. Insofern machen wir an kurzes Update zu LottoPalace (siehe unseren letzten Bericht hier). […]

  4. […] We have received many complaints and inquiries again regarding LottoPalace in the last few weeks. Most recently, a customer complained that he had lost more than EUR 10,000 and would not receive any information from LottoPalace Support. Nor would he have any data on the operators to which he could turn through his legal representative. In this respect, we make a short update to LottoPalace (see our last report here). […]

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