Lottery sales worldwide are experiencing growth with more than half of Americans playing the lottery at least once per year. While lotteries have been played since Medieval times, the online and digital lottery is a relatively new and promising trend, that attracts many entrepreneurs around the globe.
And this is no wonder: lottery offers an easy way to tap into riches while the online version is an easy way to do so from comfort of your own home. But how easy is it to develop and launch your own online lottery platform?
Online Lottery Platform Development
There are not too many industries out there that offer a quick projected growth, return on investments and not too many regulations prohibiting the initiative like online lotteries. But what is required to get started and how much time and money do you need to invest?
The basic online lottery platform has two components: the website and the management software. Lottery management software allows players to purchase tickets, sends notifications, facilitates payouts. Additionally the platform has to allow users to manage their accounts. Some platforms offer extra marketing tools, customer service portals and the blocking mechanism for those countries that prohibit the online ticket sales.
You can either opt to develop your own software or purchase already developed out-of-the-box product. Regardless of what choice you make, below are the components that are essential for any lottery software:
Plenty Of Access Channels
In order to succeed in any online venture, the adoptive user-friendly website is a must-have. With more than half of online traffic coming from mobile and tablet users, the website must be equally convenient on desktop, laptop and mobile devices. Additionally lottery software would benefit from SMS and USSD betting.
Therefore if you choose to go with the pre-made software, make sure to check whether these options are included or can possibly be added at an extra cost. While these will cost you more in initial investments, the ability to easily make bets via SMS is appealing to many lottery players, thus resulting in more profits for you in the long-run.
Payments Processing & Security
Any online entity that deals with payments must develop their online software and website with security in mind. Therefore when designing or purchasing software you must keep the vulnerabilities in mind: server, software, network and payment security.
Careful development and design with these issues in mind is crucial for your success. So be weary of ‘free’ or cheap lottery platforms as these will more often than not have certain security issues that can end up being a disaster for your venture.
Well thought-out management system will help you avoid a lot of headache down the road, so make sure to do your research before purchasing or developing the platform management system. The quality management system will allow the users to track payouts, provide auto-responses, easily check the lottery results, select the ticket agent, insurance certificate. On the other hand it will let you as the owner to manage the lottery portfolio with ease and launch additional products without encountering any downtime.
Security & Ease of Payment Processing
When users purchase the tickets on your website there are two things that matter to them: security and accessibility. Therefore you must be very careful when designing the payment processing as this can be a break or make part of your entire venture.
The payments have to be secure, to ward off attacks of hackers or cyber criminals. At the same time, your visitors have to be aware of the fact that you are using the most up-to-date security measures on your website to reassure them that it is safe to enter their details thus increasing the conversion rates. On the other hand, the process cannot be too complicated. Your payment processing system has to accommodate all the devices without any bugs and has to offer all the payment options out there, even some of the local country-specific ones.
Finally the payment portal has to be compliant with PCI DSS, easily integrated with your system, automatically send out receipts and of course you have to have efficient customer support to back it all up.
Mobile applications, when done right, can be a definite asset to your venture with its easy access from mobile user’s device and ability to send notifications. However a lot of applications are not on par with the best practices of online lottery industry, therefore to ensure that you rip the benefits of this investments, it is best to develop your own app rather than use third-party applications.