Lottery management software provides lottery operators with the ability to streamline every aspect of their business, from the player experience to back office reporting—and everything in between. The days of costly, time consuming custom software development are over. Today, choosing a purpose-built lottery management platform is one of the first (and most important) decisions when starting a lottery business.
But what exactly does lottery management software do? And how can you find the best lottery solution for your business? What should you look for in a provider? Is it easier to just develop your own lottery management software?
In this article, we’ll share decades of software development and lottery business expertise to answer these questions and more. Read on to learn how the right lottery management software can help launch and grow your lotto business.
What Does Lottery Management Software Do?
Lottery management software is designed to bring efficiency to all operations in a lottery business. Typical features include:
Omnichannel support – Reach players on the channels that matter to your business, from mobile devices to desktop computers, retail environments and more.
Back office management – Manage games, players, staff, and vendors, and monitor the health of your business with reporting features.
Integrations – Activate, disable, and manage 3rd party payments, games, features, and functionality.
Sales & marketing – Manage affiliates, loyalty programs and more; connect your CMS and marketing platforms.
Risk & compliance management – Simplify regulatory compliance, guard sensitive data and protect against fraud.
Minimum Requirements for Lottery Management Software
With most lottery management software platforms, you won’t need to hire a team of developers, invest in IT infrastructure, or satisfy other technical prerequisites. All you need is:
- A gaming license (if required in your jurisdiction)
- A payment processor
- The ability to market to an audience
Without a lottery platform provider to help, you will need to develop software, obtain servers, integrate payment processor(s), hire and manage IT staff, and more. A quality provider will act as a complete IT resource, so you can focus on growing your lottery, instead of managing technology.
How Much Does Lottery Management Software Cost?
Because it is pre-built, tested, and secure, lottery management software is a more cost-effective solution than developing your own platform when starting a lottery business. Custom development, in addition to being more expensive, is a considerably slower process. Furthermore, custom development will require an ongoing commitment to manage updates, staff, and equipment.
Once you’ve found a lottery management software provider who you trust, pricing will be structured in one, or both, of the following ways:
- Service fee – Setup charges, plus a recurring monthly or annual fee.
- Revenue share – A percentage of your Gross Gaming Revenue* each month.
Both agreements typically come with a minimum 1-year standard contract. Make sure to carefully review the items to see if maintenance fees, software updates, IT support, and backups are included.
* Gross Gaming Revenue for lottery is defined as customer sales minus wins, for all lottery transactions run through your platform.
Finding the Best Lottery Management Software
When starting a lottery business, the key to finding the best lottery management software is to plan for both current and future technology needs. Look for a lottery platform that will get your business launched quickly and profitably, but also consider the features that will matter down the road.
As your business enters each of the four stages of lottery growth, you’ll want a technology solution that evolves to meet changing demands.
The best place to start? Don’t just get a software demo. Schedule an introduction to 4 Leaf Lotto and get a free lottery growth plan to map your business’ success from launch to longevity.