The concepts of lotteries and betting are nothing new, in fact they’ve both been around for far longer than you would imagine. However, the rise of lottery betting has breathed new life into lottery, and sparked a radical change.
The lottery remains the most popular form of gambling in the world, with national draws regularly seeing upwards of ¼ of the population getting involved.
However, lottery has remained relatively unchanged for many decades, and the rise of the internet made little alterations to the concept, bar the arrival of online ticket purchases.
Lottery betting is different, players don’t buy a ticket for a draw, instead they bet on the outcome of upcoming lottery draws. The bets are done in an identical manner to selecting a normal ticket, you pick your numbers, select how many draws you want and pay.
So why is lottery betting different?
Unlike traditional lotteries, with lottery betting there are no location restrictions. Traditionally the MegaMillions draw would be exclusive to those living in the United States, but now it can be entered outside the USA in a whole host of countries thanks to Lottoland, a lottery betting website.
With American jackpots regularly eclipsing their European counterparts, these draws are far more appealing than the ones previously available.
That’s not all, not every lottery has the same odds. For example, the Swedish Lotto has jackpot odds of 1 in 6,724,520, compared to 1 in 622,614,630 for Italy’s SuperEnaLotto. So it makes sense that many Italian players would prefer to enter a draw from a different nation.
Lottery betting isn’t funded by ticket sales, instead prizes are paid out from a mix of internal revenue, and insurance policies taken out against each draw. This means players are guaranteed their payouts, but also there can be much more flexibility when it comes to promotions and jackpots.
Lottoland, the forerunner in the lottery betting concept, often boost their jackpots far higher than the main draw, meaning their players can win far more than anyone taking part in the main draw.
While the concept might not be for everyone, more and more people are embracing lottery betting, and the advantages it passes onto its customers.