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Blockchain & Apps: the Digital Strategies Keeping the Draw Alive

Just as technology has transformed how we communicate, listen to music, or go shopping, the lottery has also gone digital. With physical tickets no longer the sole way to enter a draw, lottery companies are moving with the times to come up with new strategies to attract a new generation of players. Furthermore, the proliferation of alternative gambling trends like online casinos and betting apps—which offer users new ways to win big—has forced lottery companies to significantly step up their game to remain relevant.

Online lottery syndicates make communal playing simple and secure

Playing in a syndicate has long been a popular way to enter lottery draws. By buying tickets together as part of a group and collectively sharing any winnings, the increased number of tickets in play gives individuals a much greater chance of winning prizes. While this was traditionally an offline activity enjoyed among friends, family, and colleagues, the internet has opened up a world of new opportunities for syndicate playing.

A major downside of traditional lottery syndicates is the amount of organization they require. From convincing people to join the group and creating a syndicate agreement, to collecting contributions and actually purchasing the tickets, they aren’t the easiest way to play the lottery, despite the increased potential for a payout. There is also the chance for fellow syndicate members to deceive one another, with many instances of groups refusing to share prizes with the rest of their group.

With online lottery syndicates, players don’t have to worry about these issues, as they are automatically entered into a group with others, with tickets bought on their behalf. The winnings are then distributed in line with the group’s terms and conditions, allowing players to sit back and relax, knowing their winnings will be safe should they get lucky.

Blockchain lotteries have revolutionized lottery playing

Digital innovation means that you no longer have to rely on centralized companies to play the lottery nowadays. The advances in blockchain technology—which is synonymous with cryptocurrency—means there is a way to play the lottery in an entirely private and transparent manner.

Blockchain is essentially a collection of records, known as blocks, linked via cryptography, which is the practice of using encryption to protect data. As an open, distributed ledger, it is essentially a digital database that records transactions without needing a centralized administrator, or any human intervention at all. This makes it transparent and difficult to modify, meaning blockchain lotteries are superior to conventional lotteries by virtue of being more verifiable and private.

What’s more, players are much more likely to take home big prizes. For example, the chances of winning the Fire Lotto are 1 in 8 million, which are significantly higher odds than most other national lotteries. Furthermore, 70% of the Fire Lotto’s jackpot is given to winners, whereas high taxation on traditional lotteries means winners only stand to bag around 25% of the overall prize money. Consequently, blockchain lotteries are not just safer than traditional lotteries, but easier to win, and more lucrative.

Apps make playing the lottery more convenient

Want to buy a lottery ticket? There’s an app for that. With more lottery companies launching apps for players to download and use to play the lottery, they can have tickets automatically bought for them, as well as numbers generated on their behalf. This makes it easier than ever to play the lottery. Though perhaps the most useful feature of these apps is their ability to inform players whether they have won any prizes, regardless of the amount. Winnings are regularly overlooked—take the $1.5 billion unclaimed Mega Millions prize in early 2019 alone as a particularly unfortunate example of this. However, those using lottery apps never have to face this problem again, as they’re immediately notified upon winning a prize.

One of the most popular lottery apps out there is the Powerball’s AutoLotto app, which received over $17 million in venture funding in 2017. Specifically aimed at encouraging a younger demographic to play the lottery, over half of the app’s customer base are millennials, so it appears to have done the trick. This came after the company behind the app conducted a survey that discovered that 60% of lottery players wanted mobile lottery access, a market desire that the AutoLotto app fulfils. As put by founders Matt Clemenson and Tony DiMatteo: “Mobile just makes sense. Millennials shop and play games on their phones a lot. And they don’t make up a lot of the foot traffic to the traditional retailers that sell lottery tickets.”

Written By

Ryan Kh is a big data and analytic expert, marketing digital products on Amazon's Envato. He is not just passionate about latest buzz and tech stuff but in fact he's totally into it. Follow Ryan’s daily posts on WordPress / Clear World Finance / Forumsmix

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