Real Luck Group Ltd. Partners With Funanga to Leverage CashtoCode Payment Solutions

Rhea-AI Summary

Real Luck Group Ltd (OTCQB: LUKEF) has partnered with Funanga to implement its CashtoCode payment solutions. This collaboration enables players to make secure cash deposits at over 150,000 retail locations across Europe without needing bank details, thereby reducing fraud risks. The partnership aims to enhance player acquisition and retention by offering efficient payment options. Luckbox’s Head of Payments emphasized the importance of frictionless cash deposit solutions for modern bettors.

Positive

• Partnership with Funanga enhances payment options for players.
• Over 150,000 retail locations available for cash deposits.
• Improved security measures to reduce fraud risks.

Negative

• None.

CALGARY, AB and ISLE OF MAN, July 28, 2021 /PRNewswire/ - Real Luck Group Ltd. (TSXV: LUCK) (OTCQB: LUKEF) (the "Company") and its subsidiary companies doing business as "Luckbox" (the "Group"), an award-winning provider of licensed, real money esports betting, is pleased to announce a partnership with Funanga to leverage its CashtoCode payment solutions.

The partnership will allow players to make instant and secure cash deposits at Luckbox via more than 150,000 retail locations across Europe and international markets. Customers can do so without providing bank or credit card details, and the closed loop system means that codes cannot be shared or transferred by users, thereby mitigating fraud. Luckbox players will also have the option to deposit using the CashtoCode eVoucher solution, a reliable and safe online payment alternative to cards and eWallets.

Luckbox Head of Payments Boris Kostadinov said: "We are thrilled to partner with Funanga to be able to offer our players further secure and streamlined payment options. Our proprietary product sets us apart from the competition and allows us to cater for a new generation of bettors in a way that traditional sportsbooks don't. Our focus for the first half of 2021 has been an intense and necessary phase of improving our platform and offering frictionless payment methods is an important part of the customer journey to make player acquisition and player retention as efficient as possible."

"There will always be customers who prefer to pay in cash, for privacy, self-control and security reasons. It's why all leading iGaming operators are exploring cash deposit options to add to their payment ecosystems," said Funanga CEO and co-founder, Jens Bader. "We're thrilled to be working with Luckbox, a brand known for its commitment to the user experience and the implementation of new technology. It feels like vindication for our product's usability and innovative approach to cash." 

About Luckbox

The Company is an award-winning betting company that offers legal, real-money betting, live streams, and statistics on all major esports and sports on desktop and mobile devices. The Company has a Business-to-Consumer (B2C) platform, and by leveraging shared technology, data, and resources, the Company can offer an extensive range of betting options for esports tournaments. The Company's in-house customized user interface and user experience, built on a technology stack that supports multiple odds and streaming sources, allows the Company to deliver deep esports betting coverage. The Company has been built by a team combining experience in the igaming industry and a passion for esports to offer players a unique, broad, engaging, and legal CS:GO betting, Dota 2 and League of Legends betting experience. The Company serves esports fans in more than 80 territories across the globe. In November 2020, Luckbox was named Rising Star at the EGR Operator Awards. The Company (via the Group) holds a full licence under the Online Gambling Regulation Act (OGRA), issued by the Isle of Man Gaming Supervision Commission. As the Group is fully licensed in the Isle of Man for B2C and B2B esports & sports betting and casino, the Company has access to favourable payment processors. Luckbox is committed to supporting responsible gambling.

About Funanga
CashtoCode is operated by Berlin-based Fintech Funanga AG. Launched in 2016, the CashtoCode platform connects a vast network of online merchants from various industries and payment service providers with over 150,000 retail locations across Europe and international markets. The CashtoCode service enables customers to conveniently pay for their online purchases with cash at their chosen retail location. As such CashtoCode technically manages through its vast networks of partners the secure, convenient, and compliant collection and settlement of cash from customers globally

For PR inquiries please contact: PR@funanga.com

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CAUTION WITH RESPECT TO FORWARD-LOOKING STATEMENTS

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

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SOURCE Real Luck Group Ltd.

FAQ

What is the new partnership between Real Luck Group and Funanga about?

Real Luck Group has partnered with Funanga to offer CashtoCode payment solutions, allowing players to make secure cash deposits.

How does the CashtoCode payment solution benefit Luckbox players?

The CashtoCode solution enables Luckbox players to make cash deposits securely at over 150,000 retail locations in Europe.

What security measures are implemented with the new partnership?

The partnership reduces fraud risks as players do not need to provide bank or credit card details.

When was the partnership between Real Luck Group and Funanga announced?

The partnership was announced on July 28, 2021.

What is the stock symbol for Real Luck Group?

The stock symbol for Real Luck Group is LUKEF on the OTCQB.