The Future of Online Lotteries
The lottery has drastically evolved from the era of the Chinese Han Dynasty (205 – 187 B.C), who used lottery takings, collected from Keno slips, to fund the building of the Great Wall of China. Some of us have memories as children being sent by our parents to play the lotto at the nearest garage or convenient store.
Since its earliest days, the lottery has been popular as may have tried their lucky hoping to bag the jackpot. Yet, the advent of online lotteries has increased its popularity, not because of its obvious convenience, but because of an increase in the income capital.
Continuous investment and advancement of innovative technology have significantly impacted the lottery industry. Instead of standing in long queues for hours, you can pay the lottery in comforts. Advanced draw mechanisms have been developed, and websites selling lottery tickets online make use of random number generators.
Besides, one cannot help but ask what the online lotteries future is? The internet is transforming the centuries-old industry by changing the distribution model of the lottery dismantling geographical barriers.
Despite the declining numbers in lotto ticket sales amongst the millennials, blockchain technology has provided a much-needed lifeline to online lotteries. The blockchain technology began as the foundation of the digital currency known as Bitcoin but has slowly crept into other industries, including the lottery industry.
Integrating blockchain technology in the lottery industry increased the number of players using cryptocurrency to place their bets. The use of this technology, also, has solved significant problems faced by the lottery industry such as lack of fairness, decentralisation and lack of innovation.
The following advantages aid the popularity and growth of online lotteries;
- Online lotteries enable players to play in the comfort of their own home.
With a few clicks on a page, users can mark their tickets or let random number generator pick the numbers.
- The transactions are secure, enabling for payments to be conducted via credit/debit cards and other alternative payment methods.
- Online lotteries allow for players to view previous results for the games that want to play.
- Players are informed via email should they have won.
- New players receive discounts and multi-draw purchases, allowing for the purchase of multiple tickets for less money.
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