We all like a good bet or wager every now and then, be it on horses, football or the next Doctor Who. Bookies take odds on almost anything these days, helped along by the internet and ease of access to information. But there’s one thing in particular you might be surprised to find is on the list: lotteries. Consumers can, in fact, place bets on the result of official lottery draws, picking the numbers they think will be drawn in hopes of earning a prize. It’s not quite buying a ticket. Rather, it’s buying a ticket to bet on the winning ticket, so to speak. And it’s a much bigger franchise than you might think!
As it Stands
As of now, numerous companies, casinos and betting sites offer this kind of service. Some, like Lottoland, focus their entire business on it. Should a player choose a lottery, put in their numbers and guess correctly then they win, just like normal, but the pay-out process is a little different. The money comes not from the particular lottery concerned, but from the company that hosts the bet. Prize tiers are usually matched to the given lottery, meaning that if you guess the correct numbers on the golden ticket, you’ll earn just as much as the holder of the ticket itself, way down to the bottom set of rewards. Kind of nifty, but odd when you think about it. After all, why wouldn’t a consumer just buy a lottery ticket with those numbers to begin with?
Well, there are a few key differences between official lotteries and services which bet on their results. The latter’s betting model means consumers can have access to free bets, offers or unique events (such as a Double Jackpot or the like), things entirely separate from most lotteries. Then there’s the matter of international rulings: you can only play the US lottery whilst in the country, for example, either permanently or on a visit. Lotto betting sites mean consumers can take part no matter where they are in the world, picking the same numbers they would have otherwise. A neat workaround to a frustrating bar for entry.
Going Forwards with Lotto Betting
Companies have since come up with other methods of promoting their games, by offering profit share to newsagents and shops that will host their product. These corner stores, those that typically offer national or local lotteries in the first place, would then be able to distribute bets on tickets and lotteries all over the world, not just in Oz or Japan or Spain, for example.
The possibility of retailers selling lotto bets is certainly a strange one, but it’s a very real one, too. We could all soon have access to a global network of lotteries, buying pseudo tickets when the jackpot is just right. Whether consumers, governments and the retail stores themselves will take to the idea, however, remains to be seen. Only time and a whole lot of tickets will tell.