Insurance-backed business-to-business online gambling platform developer, RISQ Capital Limited, has announced that it recently paid out its first £25 million ($32.47 million) jackpot via the HappyPay sweepstakes and contests service.

Award for one lucky player:

According to an official Tuesday press release published by European Gaming Media and Events, the London-based innovator explained that one lucky recipient took home the life-changing award after entering one of the many free-to-play prize draw contents offered by HappyPay across a range of eCommerce domains.

Valuable innovation:

RISQ Capital Limited stated that its iGaming insurance platform enhances player acquisition and retention rates by allowing operators to offer scalable non-network prizes worth up to £150 million ($194.83 million) via a wide portfolio of channels and game types. The developer declared that it partnered with HappyPay just over a year ago and has since helped the provider to drive traffic, sales and customer engagement with daily contest entries rising by some 150%.

Value of relationships:

Tom Mitchell, Business-to-Business Director for RISQ, proclaimed that the record-setting jackpot provided proof of his firm’s ability to honor some of the industry’s largest cash prizes via its relationships with A-rated re-insurers.

Mitchell’s statement read…

“As volumes increase on our insurance platform, jackpot payouts will become more and more frequent. Ultimately, in the event of any jackpot win, our clients rely on our ability to pay out quickly and with no hidden complications. I certainly feel that we have proven this capacity with HappyPay. As we grow and develop, our goal is for the platform to give clients access to any winnings within 24 hours. By continuing to improve our technology, processes and reinsurance contracts, I believe that this is a realistic target.”