Monday, July 15, 2024
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How Lottoland Challenged Traditional Lottery Operators By Developing Lotto Betting

It’s difficult to overlook the sheer importance that the explosion of mobile devices has had on the general media and entertainment sphere. After all, a new generation of adults has cropped up since the early 2000s, when everyone was convince that some sort of electronic apocalypse would close the chapter on the 21st Century.

One of the areas that has been affected the most is gambling. Casinos have eschewed the brick-and-mortar establishment for their own prodigious slices of cyberspace, where gaming and gambling has exploded because of the convenience. Recently, even the lottery has made the transition to the internet, heralded by platforms such as the UK’s Lottoland.

From eSports to lotteries and Sportsbooks, you the consumer now have your pick of your particular gambling desire. In this particular article, you’ll see just how an unconventional gambling opportunity such as the lottery has been molded into a successful online enterprise.

The Effects of Lottoland on Online Betting

The UK-based Lottoland platform has undoubtedly has the biggest effect on securing a slice of the online pie for lottery operators, specifically. Online gaming in general has been taken over by casinos and eSports – with the state of New Jersey conducting a study that showed an amazing 66% of all wagers placed around the world were placed in an online forum. A growing pice of this are lottery bets, with its growth being restricted primarily by individual state laws that are still behind the time.

Lottoland has been able to infuse online lotteries with new life by convincing abettors of the benefits of using cyberspace over the traditional method of sometimes driving across state lines to play the Powerball, MegaLotto or SuperLotto options. In response to the growing consumer demand, lotteries, themselves, have taken heed and liaised with platforms such as Lottoland to make their prize pools available in the digital realm.

In fact, the past three months have seen a flurry of activity on this front, as a result of the COVID-19 coronavirus pandemic. Families have been on lock-down in countries throughout the world, which has ostensibly led to an increase in online lottery interests. By all accounts, this surge in online lottery gambling has only just begun, as we look forward to continued lockdowns in the months – and possibly years – to come.

How Has Lottoland Parlayed the Lottery Into Online Gambling?

Their model is unconventional though simple. By employing the insurance mechanism, Lottoland spreads the risk that is involved with playing the lottery to better-than-acceptable levels. It helps that it is approved by the UK Gambling Commission, as well as the organization at its location in Gibraltar (The Gibraltar Betting and Gambling Association).

Lottoland has their hands in multiple lotteries around the world, in order to bring their growing consumer base a wealth of options. Indeed; this liberal lottery acquisition strategy is one of the main reasons why Lottoland has challenged traditional lottery operators to get into the lotto betting space. If the consumer wins by choosing the correct numbers, then Lottoland sends the results to the insurance company for the prescribed payout. If the amount is small, you’re just paid pretty much on the spot.

Opportunities for Expansion

The same opportunities for expansion that exist for online gaming and telemedia in general, exist for lottery betting. This means that even more traditional lotto operators will jump on the online bandwagon as the reach of cyberspace expands and draws in more prospective gamers and gamblers.

The primary driver mechanism for this change is the mobile device, which is being used more and more over desktop pcs. In gigantic regions such as Africa, for example, there are more mobile phone users than ever, with upwards of 90% of all wagers placed using a smartphone or tablet. This huge percentage is driven primarily by the relative lack of versatility in payments options available in nearly two dozen African countries, with the mobile wallet being the chief option.

Additionally, the rate at which this mobile phone use in Africa is exploding – with no sign of letting down. It appears clear that this is the next frontier into which traditional lottery will make the transition to lotto betting. You should know that Africa is not new to traditional gambling, with several prominent countries having long-since allowed online gaming and gambling within their jurisdictions.

Ultimately, Lottoland has been able to successfully pivot the old way of doing things into a new paradigm – one with as many new benefits and advantages to the consumer, as it has to the lottery providers. With the online betting format bringing in ever more applicants, state and country lotteries can reap the benefits.


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