4 Best Lottery Startups of the Modern Age — Destined to Succeed Right from the Start
Every now and then an individual or a group of people will come up with an idea to start their own lottery. The process of establishing lottery operations is long and exhausting. Starting a lottery from scratch requires dealing with legislation, obtaining funding, and most importantly experience in the field. Personally, I’d never embarked on a journey of this kind. I don’t have the skills and the courage to get to the end. The lottery market is not a new one which means in order to succeed these lottery startups must be unique and have some competitive advantage.
Together we’ll take a look at the best lottery startups that were destined to succeed right from the start.
The Anonymous Mobile Lottery Startup – Free Tickets for Cash Prizes
Over the past 500 years, lottery operators have always tried to come up with a sustainable solution that will allow their players to pay less, but to keep the appealing prizes. Well, one successful startup which operates on the grounds of New York went further than anyone of us expected. Free Lottery! Yes, players pay 0 and they still win cash prizes.
So what’s the secret? How did they do it?
Ads. Remember how when you’re killing some time on your smartphone and an ad appears? Well, what’s this “anonymous” lottery operator did was they created an app where players will see appropriate ads in exchange for their ticket. The company that advertises itself pays for the prize pool. Yes, this lottery exists. Usually, the prizes are in the range of $30,000 to $50,000. Note that you don’t actually pay for the ticket. It’s a FREE lottery. A few years ago I could only dream of this. Today it’s more than just real, it’s available!
CrowdLottery – The Lottery Provider That Prides on Its Transparency
Without a doubt, lotteries are carefully controlled by regulators, but they’ve always had this lack of transparency. Where does all the money go? Well, a Dutch entrepreneur decided to do something about it, on his own! Jasper Versteege successfully started CrowdLottery. His objective was to keep the whole budget and financial thing as simple as possible.
Players can buy only one ticket costing a little over a dollar with a 10% commission that goes to CrowdLottery. The 10%’s purpose is for overhead costs, salaries, and maintenance of CrowdLottery. 50% of the profit is donated to carefully picked projects. Currently, there’s only one weekly draw on Thursday. The player base is constantly increasing with the majority of players coming from Finland, Greece, the UK, Sweden, Latvia, and the Netherlands.
CrowdLottery received more than $200,000 in injection in the early stages. Maybe this is the reason why It keeps moving forward. Nonetheless, Versteege’s idea was clear cut and he knew exactly what he wanted. It’s a transparent system that other lottery operators should look upon. We honestly hope we’ll see more lottery startups of this kind.
Every Ticket has a Second Chance – Schenectady, New York Lottery
Making a step away from the crowd or the competition usually attracts a lot of attention. This lottery startup can be described with two words, “second chance”. It was founded by a former New York Lottery director called Jeff Perlee. His final objective was to provide jobs for the local community. However, in order to have a successful lottery startup, he had to come up with a unique idea that will get the attention of the public, especially lottery players.
The secret behind the success of this lottery startup is so simple yet so attractive. Every lottery ticket gets a second chance. Yes, that’s right. It doesn’t matter how many numbers you’ve hit, you will still get another chance to play with it. It turns out this was a very lucrative approach to dealing with the competition. Obviously, it’s not a marketing stunt as players always come back for more.
Jeff Perlee managed to cope with the difficulties of company formation by using the services of a startup accelerator called BizLab. Sometimes we all need to bow to those who are greater than us. If you were ever thinking of starting your own lottery startup we recommend you get in touch with a startup accelerator.
AutoLotto – The Lotto with the Most Advanced Tech Solutions
Last, but by all means, not least is the AutoLotto. This is probably the biggest surprise in the lottery market. Now bear with me. It’s not a lottery, but rather a place where lottery players can network and play the lottery. Their platform is what intrigued me. It’s the sole purpose why AutoLotto is on this list. It may not be the best lottery startup, but from the standpoint, of a non-lottery player, it surely is an amazing project.
The easiest and probably the best way to describe AutoLotto is to consider it as a social network for lottery players. It’s like Facebook for lottery players. Players can buy tickets for various lotteries, buy tickets ahead, and many other things. For instance, players can pool their resources with one simple touch. Take it as a virtual lottery syndicate. Furthermore, AutoLotto allows players to adjust their profile settings to buy tickets when the jackpot is $300m+. In a way, AutoLotto fully automates playing the lottery.
All a player needs to do is carefully adjust all preferences and let AutoLotto fulfill its purpose. To get access to AutoLotto players need to download the app on their smartphone, verify their payment method and their numbers and they’re good to go.
If you’re busy working 9 to 5 and you have a tight schedule AutoLotto is a lifesaver.
