Investor Carsten Maschmeier's lawsuit financier is embroiled in gambling-related legal disputes, leaving RightNow in a financial predicament.
The Venture RightNow Sinks: Insolvency Waves
Authored by Timm Schaffner, Edited by Angela Burke
Published on: 27.02.2025, Updated on: 29.04.2025.
The Infamous Collapse of Process Financier RightNow
On February 25, 2025, RightNow - a startup specializing in financing gambling lawsuits - hit rock bottom, filing for insolvency. A primary suspect in its downfall? The stalling of several gambling lawsuits.
Giving Cash for Potential Winnings
RightNow's business model had customers selling claims they had a decent chance of winning, according to the Rheinische Post. Regardless of whether it's data breaches, delayed flights, or health insurance hikes, RightNow pledged to battle the claims on behalf of customers and pay them promptly. The return, adjusted based on the likelihood of victory, reflected the potential payout.
Even after the insolvency filing, RightNow boasts on its homepage: "Lightning-fast Refund for Your Gambling Losses." This promise may have contributed to the demise of the process financier, as many gambling-related legal battles are currently on hold.
ECJ on the Spot
Several courts, including the Bundesgerichtshof (BGH), have forwarded gambling conundrums to the European Court of Justice (ECJ) for resolution.
The most notable case is likely the squabble between sports betting titan Tipico and gambling process financier Gamesright, a rival of RightNow. The ECJ will decide whether the license of the Malta Gaming Authority provided a valid basis for legal gambling in Germany before the enactment of the State Treaty on Gambling in 2021*.
Historically, such cases were settled out of court in the majority of instances. Specialists speculated that gambling businesses were eager to avoid high-court judgments by the BGH or ECJ, fearing a deluge of lawsuits.
However, now that the case is heading to the ECJ, gambling institutions' eagerness to pursue out-of-court settlements seems to be dwindling. A landmark decision appears inevitable, and until the ECJ announces its verdict, all similar cases will remain on ice.
Bill No. 55: The Shield for Malta-Based Operators
Gambling companies based in Malta enjoy protection from foreign penalties, a questionable law dubbed Bill No. 55. Although the potential breach of Union law is under investigation by the EU Commission, it continues to stand until a judgment is passed.
For German plaintiffs, this provides an additional challenge in asserting any damage claims. Even if a player triumphs in court, successful enforcement is far from certain.
Leaked documents, dubbed the Casino Papers, have exposed the fact that many online casinos operate through shell companies, making it extraordinarily difficult to identify the key players and recover funds.
Can RightNow Still Swim Upstream?
While RightNow GmbH seems destined for a watery failure at present, its founders have already established another enterprise - RN Inkasso GmbH. As the title indicates, this new company's focus is not on process financing, but on collecting outstanding debts.
The founders have assured their customers that they have received their compensation. There are ongoing lawsuits that the company may win to restore its financial health. However, the outcomes are uncertain since there's no money to continue pursuing the cases.
The future is uncertain for RightNow. Will it vanish from the scene in the coming weeks, or will the arrival of a new investor revive it? The founders suggest they remain confident in the business model's viability.
- What about the likelihood of RightNow's survival with its founder's new enterprise, RN Inkasso GmbH, focusing on collecting outstanding debts?
- The insolvency of RightNow, a startup known for financing gambling lawsuits, was mainly due to the stalling of several gambling lawsuits.
- In the General News section, the ongoing lawsuits that RightNow may win could potentially restore its financial health, but the outcomes remain uncertain due to a lack of funds.
- The European Court of Justice (ECJ) will make a landmark decision in the squabble between sports betting titan Tipico and gambling process financier Gamesright, a case that has been forwarded by courts like the Bundesgerichtshof (BGH).
- Beyond the gambling sector, RightNow's business model attracted customers who sold claims they had a decent chance of winning, such as data breaches, delayed flights, or health insurance hikes.
- Gambling companies based in Malta, like those involved in the Tipico vs Gamesright case, benefit from the questionable law dubbed Bill No. 55, which protects them from foreign penalties and makes it challenging for German plaintiffs to assert damage claims and enforce successful judgments.
