Lottery games are the hottest topic in iGaming industry recently. Do you know the history of lottery development?
The lottery has been existing in many ancient and strong civilizations such as the Roman Empire, Greek, and China Han Dynasty for two thousand years. Those Governments offered lottery system for people to purchase because they wanted to increase their revenue other than taxation, so they came up with that approach to raise funds. A lot of people who belong to the bottom of society tried to get rich overnight through the lottery, so they buy lottery actively. Government just allocates part of the lottery turnover for lottery bonus for people, then the remaining huge sums can all turn over to the treasury. Since then, the lottery becomes a regular means of governments funds.
There are various ways to play the lottery, the most popular being numbers game, lotto, and scratch card. It can be a ticket with a printed number string for the draw, or a group two-digit numbers picked by buyers and waiting for winning numbers to be drawn. Scratch card just like a slot machine on paper, the reward will be revealed when the surface of the ticket is scratched.
Low probability of winning and low pay-out of the ratio is two distinctive features lottery have. Do you know the probability of 6/49 lotto is only one in 14 million? It is comparable to the probability of a person who got hit by lightning! you may not be able to get a jackpot in your whole life even if you buy lottery every week! Obviously, the RTP of the lottery is much lower than other kinds of gambling. However, it is a bit confusing that people are still passionate about buying a lottery ticket.
According to previous findings, people do not exercise rationality in the lottery. They desire to win. And they are confident that their luck is far outweighing the others. So they neglect to calculate the expected value in the lottery and refuse to believe that this is not a good deal.
There is one more crucial reason for the reason why people love the lottery, that is people have not viewed the lottery as gambling!
Most lotteries are operated by government agencies, it gives a considerable degree of trust for people. Moreover, buying lottery just requires a very little cost. So everybody thinks of the lottery is not a bad thing. Therefore, these gamblers neither worry about they will lose all their asset nor consider for others condemnation. It even can become a common topic to bring social effects!
However, are these elements still exist when lottery games are ported to online betting?
In fact, those websites which provide online betting for the lottery, they also provided other gambling games usually. Such as slot machine game, poker, live game and so on. So if a person who wants to buy a lottery through a website, he will realize that this is a gambling website, and he will also realize he probably is doing gambling behavior. It may cause some guilt in his mind.
If there is a way to allow people to buy lottery tickets without feeling gambling, maybe we can boldly predict that the way of operation will receive good results.
