Starting a lottery online can be a profitable business venture, as long as you have a solid management plan. While you can launch your own lottery just about anywhere, your online lottery business will need a “platform” to serve customers through a website and/or mobile app.
Building your own lottery platform is a costly, time consuming process filled with unknowns. That’s why most operators choose a lottery platform provider to deliver all of the technology needed to start their online lottery business. But all lottery management platforms are not created equal. How do you choose the best platform provider for your lotto business?
To start answering this question, we’ll look at the most important parts of a lottery management plan:
- Average length of time to launch a lottery
- Lottery technology required to launch
- Who to hire to start a lottery business
Choosing the right lottery platform provider for your needs is essential. By the end of this article, you will know what steps to take to get started with the best lottery platform provider, so you can launch a successful lottery business.
How Long Does It Take to Launch a Lottery Business?
Starting a lottery with a platform provider can take anywhere from 30 - 180 days. The best lottery platform providers will make sure your lottery management software has the right features and integrations, but the more features your platform has, the more time may be required.
Key questions to ask when developing a lottery platform:
- Which devices are most players in the region using to go online? Webshops? Laptops? Smartphones? Cell phones?
- Are results determined by a random number generator (RNG) with lottery management software, numbers feed, or physical drawing equipment?
- What features are competitors using, and what about them can be improved?
When choosing a lottery platform, there are other important considerations as well. Operational needs, such as staffing and support solutions, data security, and payment processing must be addressed. If you are starting a lottery in a new country, there may be regional compliance requirements. The best platform providers will help identify any issues specific to your jurisdiction.
A lottery platform provider can help your plan stay on track by providing valuable business contacts for acquiring bookkeeping, financial backing, payment processing, server hosting, and customer support staff – all of which you’ll need to secure prior to launch. A platform provider should be able to help answer questions about gaming licenses and regulations in your jurisdiction.
What Technology is Required for Starting a Lottery Business Online?
Starting a lottery business online requires front-end and back-end technology solutions. A full-service lottery platform provider will offer front-end services like game presentation and UI/UX design, and will offer complete back-end solutions for:
- Game & draw management
- Player account management
- Vendor management
- Data management & business intelligence
- Scheduled alerts & reporting
- 24/7 technical support
- And more
To start a lottery, you will also need server hosting. An experienced lottery platform provider will have solutions that deliver the speed, security, and scalability your business will need as it grows. Depending on your jurisdiction, you may be required to use a regional data center. In this case, a quality lottery technology provider will guide you to the best local options.
Integrations are at the heart of every online lottery business. Both your platform and provider must be able to easily integrate core features like payment processors during setup, and quickly add new features to help you stay competitive in your market. Getting stuck in a contract with a provider who doesn’t keep up with the pace of the industry is why many lotteries fail.
Backups & redundancies are also essential lottery technology needs. A provider must keep your lottery business available and running on reserve servers in the case of an outage or other emergency situation
Lottery marketing technology is another key element your platform must incorporate. Be sure to ask about features that support affiliates, loyalty programs, customer rewards, and special promotions, as well as marketing platform integrations—all part of a high-growth lottery business.
Starting Your Own Lottery Online with a Platform Provider
Starting an online lottery with a platform provider has a number of business advantages. Partnering with the right platform provider will ensure you are developing a streamlined operation that is compliant, competitive, and scalable. Even the most experienced lottery businesses will contact a platform provider when starting a lottery in new areas to take advantage of their regional connections and industry expertise.
A lottery software provider must be able to grow with your company and keep you ahead of competitors. By identifying the right lottery technology features and asking the right questions, you’ll be able to find the best partner to help you win at all four stages of lottery growth.
The best place to start? Schedule an introduction to 4 Leaf Lotto and get a free lottery growth plan tailored to your lottery needs.