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Casino game development group Helio Gaming has signed an agreement with RISQ, and will see the two working to develop huge jackpots for online games with a value of up to €150 million.
The agreement will see Helio using the RISQ iGaming Insurance Platform to offer the large prizes on their games. RISQ has a business model where they use insurance policies to fund large jackpots for online lotteries or casino games. If a lucky punter hits the prize, the money is paid in full, as the insurance companies pool together their risk models to form the payout.
Commenting on the agreement Helio Gaming CEO Richard Mifsud said, "Working with RISQ will give Helio Gaming the flexibility to deliver even more attractive lottery solutions to our clients. Partnering with RISQ will set new standards in delivering high frequency and high-value jackpots in the gaming industry".
RISQ's Director for Business Development Julian Borg-Barthet added: "We are very pleased, that Helio Gaming has decided to use the RISQ iGaming Insurance Platform iGiP™ to back the HERO products and their Betting on Lottery Suite. We are looking forward to a mutually beneficial and prosperous partnership. The new deal reflects a shift in the industry towards proprietary lottery games and giving more players access to international lotteries".
As of press time we don't have an exact timetable for the integration of the large prizes, but we'd assume punters may see the jackpots being offered sometime later this year.