06.04.2020

Online Lottery: Past, Present, and Future

The Past

Lotteries, in the way we know them today, are a result of many years of humankind evolution. But before we can start to talk about the online lottery as a phenomenon, we need to recall all its rich history. A blueprint for lotteries is first mentioned in ancient Greek mythology. Soldiers drew stones out of a special helmet for the right to take on Zeus. These first lotteries appeared in ancient Rome and China and for many centuries associated with not just entertainment, but also charity.

With the contribution from the purchase of lottery tickets during the Han dynasty, China financed the defense of the country and the building of the Great Wall of China. The late Roman Republic, partly during the time of Julius Caesar, spent the money raised on renovating buildings and other sites in the city.

In the European Middle Ages, lotteries helped the disadvantaged: for their cost, the city built canals and addressed social needs. For example, England reconstructed its ports, strengthened its army, and, over many years of lotteries maintenance, constructed a multitude of important buildings.

In the New World, America also used lotteries to finance army, pay for social and cultural projects, build settlements, schools, universities, and so on. In England alike, important buildings appeared only thanks to money raised from lotteries, held over the course of 250 years.

As such, lotteries contributed greatly to the development of infrastructure, military strength, and cultural heritage of many modern-day countries. National lotteries drew in large audiences and prizes were always generous: the lucky winners would be awarded money or high-value prizes, such as tapestries or even gold bullion.

The Present

Nowadays, lotteries oblige to very different reasons than through the previous centuries. Today’s lotteries are a form of entertainment without the fundraising. Rather than that, certain types of auctions and charity evenings took on this task. Lotteries now serve to provide another form of entertainment and give people reason to celebrate.

According to estimations, over $120bn is spent on the lotteries each year in the US, Canada, UK, and the rest of the world. Almost all countries have large-scale national lotteries with jackpots worth millions. The current capabilities of technologies allow players to be not limited to the lotteries in their own countries. Players can branch out and bet on the outcome of national lotteries all over the world.

Online Lottery Solution Designed by BetIvest

BetInvest, a provider of gambling solutions, gives its clients access to about 100 national lotteries from around the world. This number includes 12,000,000- plus bets per month, 10,000-plus bets per minute, and 700-plus rounds every five minutes on a daily basis.

BetInvest’s Lottery solution is easily integrateable into any platform. On our part, we provide product that suits the needs of the region of operation, automated and multilevel bets, seamless wallet solutions, real-time notifications, 24/7 support, bet monitoring, etc.

The BetInvest lottery platform gained the certification of one of the UK’s most reputable laboratories – Gaming Associates Europe, a reputable entity both in the EU zone and free zones such as the Isle of Man, Gibraltar, etc. The certification allows our company to supply our in-house lottery solutions to both online and retail gaming operators in EU countries where local regulators do not allow companies to carry out their own activities.

The requirements of Gaming Associates Europe are some of the most stringent and elaborate. This, therefore, confirms the fairness and quality of our product, its security and compliance to the standards. Our partners can leave all concerns regarding the lotteries organization and enjoy the guaranteed profit.

The Future of Online Lottery

Lotteries might give way to other forms of gambling since new technological solutions have more advanced graphics, appealing storylines, added gamification, elements of virtual and augmented reality. For example, eSports are also finding firm footing, drawing huge traction with the younger generations who practically grew up playing videogames.

But despite all of this, we believe that lotteries as a form of entertainment have one key advantage that will mean they remain forever popular: they are a simple game involving minimal financial input, but with the possibility of getting instant results.

By comparison, to play poker or any other card game, you need to understand the rules & hand combinations and keep up with the actions on the playing table. When betting on sports, players have to be familiar with statistics on athletes, their teams, and the news outside of their sports careers.

Lotteries, on the other hand, are accessible for every customer to play here and now. This is the entertainment industry after all and it has a great selection of services on offer. Even professional poker players or sports fans enjoy trying their luck now and again, by buying a lottery ticket, online or offline.

Summing Up

Society has always preferred lotteries to other forms of gambling. In fact, many do not see lotteries as gambling at all. It seems to us that this is mainly to do with the fact that national lotteries are a key form of entertainment in almost every country, permitted by law.

We should also mention mass culture, which associates classical lotteries with cultural traditions and family entertainment, whereas poker or card games, for example, are seen as risky, dangerous endeavours and a game for opportunists.

In the future, national lotteries could remain part of the cultural code for the population of many countries and a form of entertainment for them. But online betting on lotteries will continue to create a globalised experience and allow players to take part in lotteries in any country, from the comfort of their own home. And they will continue to draw in new players with their simple and accessible local gaming solutions.

What South Africa, Nigeria, and Kenya Can Offer To an Online Betting Business

Africa is a highly underappreciated market where betting and gambling businesses can truly evolve. BetInvest shares some insights from three African regions – South Africa, Nigeria, and Kenya – to prove the point about the abundance of the local market.

This market research covers three essential aspects of each scenery: legislation, restrictions, and taxation. Read it to learn the challenges and possibilities the African market possesses.

Read More

Ukraine Government Legalized Gambling & Betting

Following the example of countries that have successfully implemented gaming businesses into their economy, Ukraine is ready to pass a law that would decriminalize casinos, lotto, betting, and gambling in general.

Read More

Cybersports: Where to Invest to Strike a Bargain

To give a definite answer for all the investors who search for a possibility to put their money in the most promising cybersport niche, we’ve conducted a thorough eSports market research. Here we unveil the market insides for you.

Read More

Betinvest.com uses cookies. We remember and store information about how you use our website in order to deliver a better browsing experience – both for you and for others – and for marketing purposes. To accept cookies, continue browsing as normal. For more information, please refer to Betinvest’s Privacy Policy.

I ACCEPT