When starting a lottery business online, one of the most important decisions you’ll make is choosing the technology that will power it all. A lottery solution can be equipped to host games, accept payments, integrate with other platforms, and manage every other aspect of your operation. But, not all lottery solutions are the same. Choosing the right lottery solution will ultimately depend on the goals of your business.
In this article, we’ll explore 3 different lottery solutions, and consider the benefits of each. Whether you’re looking to start your own lottery business on a lean budget, take the market by storm, or build a foundation for long-term growth, you’ll have a clear understanding of your options—so you can choose the best lottery solution for your needs.
1. White Label Lottery Solutions
For new operators looking to get into the lottery business quickly, and with minimal investment, a white label lottery solution could be the right fit. A white label lottery solution can be thought of as “off-the-shelf” software that’s ready to use right away. Different white label solutions will have a selection of games and features to choose from and, in many cases, all you need to do is add your logo and branding. An added benefit for those in need of a quick launch: operators typically aren’t required to carry their own gaming license with white label lottery solutions.
While white label lottery solutions offer attractive benefits, however, they do come at a significant cost. You’ll be operating under the provider’s license, so your lottery business will be limited to the markets they serve. And, so will all of their other clients—with the same set of games and features. In these conditions it will be hard to differentiate your business and gain market share.
To make matters worse, many white label providers operate their own lotteries that will be competing with you in the same market. A good reason to exercise caution when selecting a white label lottery solution, as they will have access to all of your marketing, sales and operations data. Not exactly a fair playing field.
Last, and perhaps most important, white label providers will typically require a sizable commission. This will eat into your profits and your ability to grow the business, or even to sustain it.
For some new operators, a while label solution can be an easy way to get started with limited resources, gain valuable industry experience, and level up when they are ready. For others, it can be a challenging path that places severe limitations on business growth.
2. Building Your Own Lottery Solution
For entrepreneurs looking to create a unique offering in the market, custom development is the lottery solution of choice. With a custom lottery solution, an operator will have complete control over the design of games, the functionality of the platform, the types of integrations available, and more.
Of course, custom lottery solutions come at a cost as well. Here, the currency is both time and money. Custom software development is a slow process that is never really complete. Every feature must be developed from scratch and thoroughly tested before deploying—and between updates and troubleshooting existing features, it’s a continuous effort. Custom lottery solutions are also an expensive undertaking, between hiring skilled developers, investing in servers and other IT infrastructure, and possible launch delays.
For experienced operators who know exactly how their lottery platform should be planned, developed, and deployed—and who have significant capital to invest—a custom solution can be the right path. Those looking to start an online lottery with minimal risk and a fixed time frame, however, should consider other options.
3. Full-Service Lottery Solutions
For those who need the ease of a white label solution and the flexibility of custom development, a full-service lottery solution can be the perfect choice. A full-service lottery solution offers lottery management software rich with built-in games and features, along with a comprehensive suite of customization options.
Operators can launch quickly with a catalog of existing games, or have their own online lottery customized to their needs. Unlimited integrations add the ability to offer players 3rd party games, lottery syndicates, advanced features, multiple payment options, and more reasons to keep coming back, including loyalty and rewards programs.
The best full-service lottery solutions know that player habits and preferences are constantly evolving. They will continuously update their lottery platform, so you can be first to market with the latest games and playing options, and benefit from the latest back office capabilities that will help you better manage all aspects of your business.
More than anything, full-service lottery solutions are designed to help operators launch smoothly and grow profitably. The providers behind them are partners in your success, who know what it takes to adapt to all of the changes that come with growth in a rapidly changing industry. Lottery businesses are a great fit for full-service lottery solutions if they are looking to benefit from powerful tools that will support long-term growth and scale with it.
Choosing the Right Lottery Solution for Your Business Goals
Whether you’re a first-time lottery entrepreneur eager to start an online lottery business as quickly as possible, or a seasoned operator with plans to start a lottery in a new country, the right lottery solution will be a key ingredient to your success. Choosing the right solution starts with understanding your options and matching them to your goals. You’ll also need to know all the right questions to ask before starting a lottery business, as the answers will help determine many of your needs.
When it comes to researching the lottery solutions on your list, don’t just get a software demo. Instead, get a free, customized lottery growth plan that maps your management needs from launch through all 4 stages of lottery growth. How? Schedule your introduction to 4 Leaf Lotto today—and set your lottery business up to win from the start.