The new service from Laguinda, which reimburses the taxes derived from lottery prizes in Spain to allow the winners to receive the totality of the prize through insurance, could also benefit agencies, as they could obtain up to a 50% commission.
The service from Laguinda, a company that has support from the Spanish Ministry of Economy, works with taxes of La Primitiva, El Gordo de la Primitiva and La Bonoloto, although it plans to add EuroMillions prizes and the special draws of the National Lottery soon. It is activated “in a simple way and covers payments to the Treasury.”
To be able to use this service, users need to scan the lottery ticket in the Laguinda app and secure it just for a few cents.
In addition to the benefits for the winners, Laguinda is looking for lottery agencies to receive a percentage in case they sell a winning ticket. Currently, it is in talks with Loterías y Apuestas del Estado (SELAE) so that users can secure their tickets at local agencies, instead of just the app.
This initiative would ensure an additional revenue for agencies of 40% to 50% per ticket. According to Voz Pópulo, they would get a commission of 50% per insured ticket of Bonoloto and 46% of Primitiva.
In Spain, all prizes that exceed €40,000 are taxed at 20%. As this value is taken when winners collect their prizes, they receive a lower value than what they actually won.
The company stressed that this insurance is positive “for everyone”, including agencies, since they have been “greatly affected by the COVID-19 crisis and, with Laguinda, they could obtain extra revenues.”