5 Trends Reshaping the Lottery Industry 2020

Lotto Industry

A gush of sweet anxiety runs through our boy listening to any gambling stories or new introductions in the gambling world. Even though one is not interested in this world there can be barely any individual who would be deprived of listening about it. Since time immemorial, gambling has made its own to reach out to people. Once addicted, it gets tough to take a U-turn and at the same time not everyone gets easily attracted to it.

Over the years various facets of gambling consisting of sportsbooks, poker, bingo, lotteries and slots have found explicit ways of strengthening the whole sector with their happy ways of pleasing people and generating unstoppable income from generation to generation. Results put aside; certain ventures are always a deal to try at least once. It is a big deal to get involved in any gambling facets as it prevails uncertainty in the air.

In all these years the world of gambling has never been more affected as by the Internet. Gambling, especially lotteries have taken a plunge with digitalization leading to online betting, playing games, e-tickets for lotteries and it continues. Technological advancements in lottery has changed the lottery face as it involves major calculations, randomizations and the quick exchange of data, internet enabled devices have proved their worth in the industry significantly. Today the online lottery industry is worth $50 billion and the analysts expect the numbers to exceed up to $59 billion by 2020. With the internet penetration, lotteries are now accessible on your palm which very well exclaims the huge growth in the industry. 44% of the lottery income is generated from Europe and America. Players in the industry seem vigorous regarding the awareness of the latest tech trends in the lotteries. If they skip the current wave, they might skip on their luck too. The tech trends are ought to change the consumer behaviour affirmatively attracting more individuals to ruffle their luck in the lottery games. Let us take a look at a few techno based lottery patterns and their platinum features.

Blockchain lottery

BLOCKCHAIN- The players and techno savvy experts reveal their saviour and preferred platform for exchange in value and information i.e. the Blockchain. It is marked with three strong pillars- Decentralisation, transparency, Immutability. Utilising the strong aesthetics of Blockchain, operators can create a tight and reliable way to verify users. To ensure the real identity of the users, lottery operators can use the information stored in the blockchain profile to avoid any payment problems or gimmicks by the users. Instances of people entering fake information have been loud enough in the lottery system and to avoid suffering any such con cases, blockchain plays a vital role with its functions. A blockchain powered lottery can give players more control over their information by allowing only the approved parties to access it. Another impact of the blockchain is Decentralisation. The current gaming set-ups often use a third party for recognition of the results which might create an untrustworthy chain of holders. The blockchain system however uses a network of nodes consisting of players themselves to have direct connection with the game and the operators without any interference of the third party. Lotto Nation and First Lotto have been the new development in the decentralised lottery category powered by both artificial intelligence and blockchain technology. It allows any individual to develop their own lottery system. The youth craves for social interaction which the traditional lotteries lacked. The modern day lottery technology fulfils the agenda of social interaction as it permits to invite family, friends and all those you wish to and play together. The FIRST LOTTO is an international decentralised lottery platform managed by smart contracts not allowing any human interference. It serves lotteries into three categories- A draw lottery, instant win-game and a licensed crypto exchange lottery.

BlG DATA

•BIG DATA- Rural simplicity or urbane aspirations, every section has their set of dreams to fulfil which may lead them to get involved with lotteries. To optimise the human interest from varied areas, BIG DATA is one large support to the technological industry. From shaping the individual user experience to maximizing advertising, big data analytics plays a vital role in the online gaming industry. With passing time, online lotteries and casinos have become the trend in the gambling industry involving more and more people around the world. Lotteries have mass data in all sections but its exploration has not been boundless. It has been narrowed down to local collection only. The data is not gathered across the sector the way it is gathered in any other retail business or FMCG areas. With BIG DATA being implemented a huge landscape is fished around and data from multiple resources are gathered to form a channel at regional, district, national and international levels. To form such a huge chain, understanding of the current and prospective retail chains is important for which an equipped tool like BIG DATA plays the role to broaden the reach. BIG DATA sort of personalizes the lottery experience based on what kind of lottery sets you prefer to play. The data gathered does not only enlist the figures, names and location but it also draws the pattern of each individual which in result helps In curating and customising the tech lotteries. A company is showered with accurate data and enables them to customise the entire gambling attracting more customers. It is gradually becoming a whole new world with narrative consumer experience.

INTERNET OF THINGS

INTERNET OF THINGS- Lately, there has been a great buzz of IoT in the lottery industry. It has been captivating extensive attention for its fathomless approach in the technological lottery industry. With the increased number of IoT devices data collection points escalates acknowledging the operators with the latest trends, user preferences, and their experiences. The communication channels held by the IoT activates lucid connectivity between operators and users collecting feedback and creating new streams of data. Portable computing devices like mobile phones and tabs offer straightforward and quick experiences to gamers on the go. With the outburst of such tech lotteries and gadget connections, 2020 is assumed to mark 20 billion IoT gadgets widening the lottery horizon globally.

VIRTUAL REALITY- The buzz of all the above tech lotteries have been great but none of it has been shaking the lottery world as much as the Virtual Reality. The words virtual reality itself deciphers a lot of its base and components. Prior generations were satisfied with the routine of basic online gambling, but the millennials prefer the vast and immersive experiences as they have grown up surrounded with video games and realistic media. Virtual Reality brings up a promising face with an exciting and entertaining splash of experience with a full coverage game which can be played with friends also. Boundless push for the launch of the technology is given by Samsung and HTC. As the players adapting this technology rises, the operators will also have to fall in the same category of adaptation.

THE BOTTOM LINE- Accomplishing the expectations of the current and prospective lottery tech chains will become easier if all the people come together as a team giving a hand to this industry for its quick upbeat. The Lottery industry has tremendously evolved over the years gripping several innovations in the industry to make it an engaging world for the clients. With the introduction to BOTTOM LINE, operators will have to revise their strategies and methods to interact and captivate with their audience. A new horizon of online lottery systems will be built with luring amenities for all to create, build, play =, interact and win. The platform will be a space with opportunities to gamble with the best fit.

The dazzling world of games, cryptocurrency, gambling has been an almost inheritance to the current world. Innovation, creativity and technology have played vital roles in upgrading the standards and forms with specifications, but the ancient world was not naïve to the gambling world. Discovering the new, there has been no stoppage to the inventions that have been made in lotteries due to the advanced technology. Operators and users have multiplied in a blink and the taste of it has also been an addictive one. Thus, it is going to be no looking back in its expansion but only multiplication. Keep rolling the lottery figures till your luck gets lucky.