Why Online Lottery Business is a Great Prospect for Investors
Lottery is perhaps one of the oldest forms of gaming known to man. While lottery has been common in most parts of the world, popular perception saw a change in the early 20th century, and lotteries were banned in most places, including the US. After the Second World War, things changed as governments in need of sources of revenue without raising taxes began organizing national or state lotteries.
As the digital age arrived, the lottery saw yet another change in the game. Things became far simpler to manage for private and government-owned operators as online lottery software providers began utilizing technology to its full potential.
Let’s explore in detail how online lottery software providers helped in this transformation of lottery operations.
Benefits for Operators
With the magnitude of escalations in the number of people opting for lottery games, digitization of operations has far-reaching benefits for the operators.
Flexibility to kickstart the business from home
Starting an online lottery business doesn’t necessitate a physical storefront or office space as prerequisites. During the initial phase of the business, one can carry out all essential tasks from the comfort of their home.
Zero overhead costs
An online lottery business doesn’t entail any costs such as overhead, storage, packaging, etc. This not only reduces the overall investment but also saves a significant amount of time and effort.
Lack of experience not an issue
Becoming an online lottery business operator requires minimal experience and no particular certifications or qualifications. One can achieve success through perseverance and partnership with a proven & trustworthy technology solution and online lottery software provider.
Online lottery has the inherent benefit of scalability. Online lottery software providers have built systems capable of handling an increase in the number of customers without the need for pausing or shutting down operations.
Along with scalability, online lottery systems offer unmatched inventory management for the operator. With scale, issues of inventory are bound to be a hassle at some stage. Online lottery systems add to the ease of operations while keeping the costs steady or with a bare minimum increase that doesn’t hamper operations further.
Authenticity of tickets and winnings
One of the biggest problems in lottery operations is keeping track of authentic tickets and winnings. Online lottery systems ensure that authenticity is maintained at all levels of operation right from ticket distribution to the redemption of winnings.
Enhanced credibility and transparency
Lottery is dependent on winning the trust of the customer.
If the authenticity of the online lottery products is established among the consumers, it enhances the operator’s credibility even further. Online lottery software providers enabled the systems to deliver a higher degree of transparency in operations that the consumers see as yet another reason to trust the operator.
Data Security
Digitization of operations with online lottery systems enables the operator to safeguard against data theft. Personal and financial data of the customer is of the highest value to the lottery business. Therefore, loss of such information is not only equivalent to losing the confidence of the customer but also implies the loss of data that is highly valuable to the operator’s business.
Agent and distributor network reports
Online lottery systems enable the operator to manage their agent and distributor network with the utmost ease. Operators don’t need to spend on hiring extra staff to manage the business relationships with these agents and distributors of their lottery products. The online lottery software providers help train the agents and distributors to use the lottery software so that the operator doesn’t have to worry about the system being underutilized. Not only that, robust online lottery systems have the capability to draw valuable information from the raw distribution network data that is beneficial for the lottery business.
Data on winnings and customers
Data and information security are the biggest benefits for a digital (lottery) business. Customer data, sales, and winnings, vendor, and distribution network data are all important for the smooth functioning of the lottery business. This information is crucial in making business improvement decisions for senior management, like which distributors need attention, which ones are over-performing, etc. This can help to improve business decision-making significantly.
Benefits for Customers
The Powerball New Year Jackpot in the year 2016 was $1.6 billion, which establishes the fact that customers love the game of lottery. And online lottery software has made it accessible to the farthest corners of the globe. Not only is it easy and reliable, but it also has the added advantage of being secure and safe for the customer, ensuring they come back for more every time.
Ease of playing
The customer is spoilt for choices as he can buy lottery tickets online from his home, office, neighborhood vendor, laptop, mobile phone, etc. Moreover, the gaming solution interface is simple and intuitive for the customer to buy tickets instantly.
For the new generation, comfort comes first, and playing the lottery online offers a great deal of comfort as compared to playing it offline.
The customers can enjoy gambling anywhere they wish to. According to a survey done by The Gambling Commision of UK, 95% of the customers prefer to playing at home and the age group who is more likely to go for online lotteries is 25-34. For the new generation, comfort comes first and playing lottery online brings comfort.
24/7 availability
Online lottery platforms make it possible for lottery enthusiasts to play their favorite lottery games at any time of the day, as per their convenience. Whether it be while traveling, during office breaks, or in their free time, one can log in to their preferred platform and play the lottery games of their choice.
Secure and reliable
Customers need not worry about the security of their valuable financial and personal information with the online lottery operator. Online lottery software providers ensure that the systems they deploy are designed to be secure from any risks of data theft and other hardware mishaps.
Access to a variety of tickets
Online lottery platforms provide a wide range of lottery tickets options to users. With some countries having a vast selection of lotteries as compared to others, online lottery has facilitated users to check out and choose from the extensive selections available in their country at the click of a button.
Tickets directly from the server
Online lottery software ensures that the tickets are authentic and registered with a central database residing on the operator’s secure servers. This way, the customer can be assured of no possibility of tampering with the tickets in any manner.
Assurity of random order of numbers
Online lottery systems ensure that the order of numbers is genuinely random at all times and that no one can tamper with the systems to take its undue advantage in any way.
Transparency, legitimacy, and credibility
Online lottery system facilitates transparency in operations and also establishes legitimacy and credibility for the lottery business in the minds of customers.
Go Green
Production of paper means cutting down of trees which is a red signal for the environment. (Cutting down of trees is essential for paper production and we all know how important living trees are for the environment). The paper lottery is based on paper whereas online lottery does not require paper as the tickets are issued online. This ultimately saves both the cost and the trees used to produce paper lottery tickets.
Recurring bets option
Many online lottery platforms offer users the option to select recurring bets, which enables them to never miss out on playing, regardless of their hectic schedule and lack of time.
Go Green
Production of paper means cutting down trees which is a red signal for the environment. (Cutting down trees is essential for paper production, and we all know how important living trees are for the environment). The paper lottery is based on paper, whereas the online lottery does not require paper as the tickets are issued online. This ultimately saves both the cost and the trees used to produce paper lottery tickets.
Dusane Infotech is a leading technology solution and online lottery software provider for the gaming industry from (in) India. Our software is designed to offer customized solutions as per the client’s requirements that establish credibility among online lottery customers. Dusane also assists in the deployment of the software and training the staff to operate the software with ease, thereby going beyond just being a technology vendor to providing a well-designed technology solution.
A deep-rooted value system brings a repeat customer to an online lottery business, far more than just the winnings. And that’s why online lottery software is a necessity for operators as well as customers in the digital age.
For further information on our online lottery software solutions, please reach us at solutions@dusaneinfotech.com.