Annexio - Isle of Man

Lieutenant Governor gains lottery business insight from Annexio

Annexio used a visit from Sir Richard Gozney to underline the potential for the eGaming sector and its associated services in the Isle of Man.

Gozney, appointed the Isle of Man’s 30th Lieutenant Governor in December 2015, was given an insight into the island’s eGaming industry during a recent tour of Annexio’s Lord Street offices.

Accompanied by his private secretary and guided by Annexio founder Tom Brodie, Gozney met staff from all areas of the business to learn about how the company offers players a chance to bet on the outcome of some of the world’s largest lotteries, including the US Powerball and EuroMillions.

Gozney found that these two lotteries created the biggest surge in interest, with peak betting time on Friday evenings and in the hours before each draw. He also learned about payment options in different countries and the company’s plans to apply for more licences in different jurisdictions, to add to those it already holds in the Isle of Man, UK and Ireland.

Speaking after the event, Mr Brodie said: “It was a pleasure to welcome His Excellency to our offices and all our staff enjoyed meeting him and telling him about the work they do.  The visit was very timely as we are experiencing a period of significant sustained growth that underlines the ongoing potential for the eGaming sector and its associated services in the Isle of Man.”

Annexio General Counsel Paul Telford added: “Sir Richard was clearly interested in the operational aspect of our business and how the insurance risk based approach of Annexio works.

“We were able to explain the benefits of using this model against the messenger approach, for example, where players are reliant on an agent buying physical tickets. It was a great opportunity for the staff to demonstrate their enthusiasm and everyone appreciated the interest that Sir Richard showed.”

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