Are you dreaming of having your own online lottery business but unsure about how to start? There are two main options for building an online lottery:
- Custom development of your own platform
- Pre-built online lottery software
Both can turn that dream into a reality, and each has its advantages and disadvantages. So, which method is right for you?
Here, we run through all the considerations to help you answer that question. By the end of this article, you’ll know which is the best avenue for you to start an online lottery.
What is Online Lottery Software?
Online lottery software is the technology that powers lottery businesses online. This can take many forms and all online lottery software is not the same. With some, you may simply add your logo and branding to a basic collection of games. With others, you’ll have access to a full suite of back-office tools to manage all of your lottery business operations more efficiently. Many of these solutions can be placed into two categories: white label lottery software and full-service lottery software, respectively.
White Label Lottery Software
White label lottery platform providers are a great solution for new operators with limited resources that want to launch their lottery business quickly. The software is ready to use and has a selection of games and features. Simply add your branding and logo and you can have a basic online lottery website in very little time. The one caveat is that you will be operating under the license of the white label provider and are limited to the markets they serve. The selection of games and other offerings you can provide players will also be limited—and those same games may be offered by other operators in your market.
Full-Service Lottery Management Software
Full-service lottery management software offers greater control and flexibility over your online lottery business. Unlike white label providers, the best full-service lottery software is fully customizable and allows you to integrate third-party games, multiple payment processors, loyalty and rewards programs, and other advanced features. A full-service lottery management platform can be the perfect middle ground between designing a lottery from scratch and being stuck with a limited white label online lottery software.
Pros & Cons of Lottery Management Software
The biggest advantage of using a full-service lottery platform provider is that they allow unlimited integrations and constantly update their offerings. This means you’ll have a powerful competitive advantage by always being first to market with the latest games and features. Working with a provider who prioritizes innovation will allow your business to constantly adapt in the rapidly evolving gaming market. Innovation is an essential part of lottery growth and is the key to long-term success for an online lottery business.
However, not all lottery management software is the same. Those with fully-customizable platforms and an array of advanced features make some of the best lottery sites on the internet. However, others can restrict your growth through limited features, support, or updates. When you’re in a lengthy contract with a lottery platform provider, that translates into less control over your business. With the wrong platform provider, it will be difficult to carry out your lottery business plan.
Developing Your Own Online Lottery Platform
On the other hand, you can start an online lottery by building your own lottery platform from scratch—also known as custom development. You’ll have the ability to tailor the games, player experience, and all front- and back-end features to your preferences. Yet it places the responsibility for all technology development and maintenance on you, without the help of a software provider that has years of experience in the industry.
Pros and Cons of Custom Development
The main advantage of custom development is that you can make your online lottery business into whatever you want, no matter how new or unique. If successful, you’ll build an online lottery that is hard for competitors to copy. You become the go-to online lottery within your target market. However, this level of customization does come with several drawbacks.
Creating your own online lottery platform is extremely time-consuming and expensive. You are responsible for managing all aspects of technology, from hardware, ongoing updates, site testing, and more! And the work is never-ending. You constantly need to update your website, check for bugs, and implement new technologies. You’re essentially running a software development company in addition to your online lottery business. For operators who choose to start an online lottery with custom development, there is little time to focus on marketing your business, increasing revenue, managing staff, and growing the company.
Choosing the Best Lottery Platform Provider
Working with an online lottery software provider is arguably the best way to start an online lottery. Unless you are a technology genius, you might struggle with the requirements of custom development. And even if you are an experienced developer, the process takes up a substantial amount of time; time that you could be spending on growing your online lottery business.
However, don’t make the mistake of assuming all lottery platforms are equal. Below are two important factors to consider, along with questions to ask when choosing a lottery software provider to work with.
Site Features & Customization
The features available on any lottery platform are key considerations. Ensure any provider you speak with has the capability to produce the vision outlined in your lottery business plan. You should also ask what level of customization they offer. While you may not be building a custom site, you still need your online lottery to be differentiated from competitors. Here, full-service lottery management software often provides the best options.
Reputation & Commitment
Great website features are essential, but the provider behind the software is equally as important. Trust a lottery provider with a stellar reputation and a true commitment to helping your business grow. Without profitable growth and continuous innovation, most lottery businesses will fail. An online lottery software provider becomes your business partner, so don’t leap into an agreement with a company you don’t know or trust.
Final Thoughts on Online Lottery Software
Utilizing online lottery software makes launching and maintaining a lottery business straightforward. However, not all lottery platform providers are equal. When choosing, conduct thorough research and don’t just settle for a software demo. Instead, opt for a free, customized lottery growth plan that maps your lottery business needs every step of the way. Schedule your introduction with 4 Leaf Lotto today and set your lottery business up to win from the start.
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