Lottery Ticket Purchasing Behavior
A rational thought of how to earn money above your fixed income? Every individual is greedy at some point of their life for varied reasons. Perceptions and chase for the money would vary, Vitamin M does play a vital role for all. An affirmatively secure and legal thought could be lottery winning and scratch cards. Who would not like to try lucks for incurring more money without any hard work. Rewards in the form of economic appraisal or appreciation are all a combination of hard work and luck. Well, lotteries do not ask for hard work, it all depends on how lucky you can get with numbers. Lotteries are part of the boundless gambling world which consists of poker, slots, pinball etc. The agenda to play any of the gambling games is only to incur more money. Consumers are divided into rural and urban categories and the lotteries are divided into regional, state and central categories. Lately, the lotteries have got a virtual platform where the boundaries have been eradicated and all can get involved into their preferred lotteries with online play.
Consumers die to participate in lotteries with a daydream of generating mass economic value to make their dreams come true. The thought of buying lottery tickets depends on varied factors. The mixed feelings to buy or not to buy the lottery ticket reflects when certain factors are fulfilled. Let us study a few criterias regarding consumer behavior on purchasing lottery tickets.
TYPE OF GAME– A huge mass relies on what type of game it is. A longed game or a quick result game. Lotteries are always a matter of luck and not always consumers want to play a big hand in it for which they choose to play the immediate games. Draw-based games attract more consumers compared to sports games. Draw based games demand small investment and less time to give. Sports games demand more investment and more time to give. Believe the unbelievable is the rule in lottery gambling so always have patience and keep driving to grab your luck. Consumer attraction keeps evolving depending on what they are receiving or an external drive to win something anxiously. As per the stats from a survey, 7% people purchase instant win based games and 4% people purchase the time consuming games. The gamble ride of lotteries is enjoyed with choice.
THE AMOUNT OF THE PRIZE– Lotteries are played because they generate money. Had it not been for money or special rewards, it wouldn’t have been that an attraction for people to keep resuming buying lottery tickets. All jackpots and lotteries do not stand the same prize value. Higher the prize, more the buyers. Consumers calibrate the prize amount with the ticket amount and only then decide to buy or not buy the ticket. The sudden influx in the purchase lottery is observed when the prize money is huge or the prizes are great. Human psychology remains stagnant be it any country and the body acts our mental state functions. Our mental status is ought to get attracted to such instant catch of money hence, lotteries are fantasies.
THE TICKET VALUE– If the prize is worthy, ticket amount does not matter but if the prize is low then the ticket amount is to be considered. Consumers tend to skip
buying lottery tickets if the winning amount isn’t that great as it turns out to be a waste of money. Consumers tend to get attracted to expensive lottery tickets also if the prize is huge. Speaking of the ticket value, online tickets are getting cheaper with the involvement of huge mass globally. Individuals pay the ticket value from the household budget which cannot extend a surplus more than a level. Looking at the rural areas, the ticket amount has to be extremely low for the consumers to get attracted and for the urban areas, it has to be cautiously charged as they are aware of its worth precisely and can have abundant alternatives. Dealers and players are smart enough to understand and manipulate at the same time, after all it is all about gambling at the end.
AVAILABILITY OF THE TICKET- Ticket selling is now being notified on the devices which makes it easy and feasible for the consumers to purchase. Waiting in the queue, finding the right store, holding onto tokens have all been pushed away with the introduction of online/digital lotteries. On your finger tips you get to know about lotteries being played worldwide and you can sign up as per your choice. Everything does have a cost and its worth varies for each individual. With invasion of BIG DATA and DATA SCIENCE, the operators are getting a closer insight of the players which involves the operators to give articulate categories to the players based on their prior choices. Attractive prizes with categorised selection in digital lottery has made the ticket scale vulnerably high.
While purchasing, prime importance is given to the factors discussed above. There are a few more criteria that consumers ponder upon and get more or less attracted to lotteries. There are practices that drive loyalty in customers for the purchase of the tickets.
– Offering VIP Prizes
– Group Play option
– Running promotions
Considering the mentioned discussion a few charms and fancies that every individual consists which would drive them to win more money and try their lucks are-
• To tackle acute poverty
• To satisfy gambling instinct
• Out of curiosity
• Tempted by seeing others win
• Supplementing family income
• Safest avenue to gamble with legalised permission
• Gambling is one big gig that humans would be interested in experiencing. The emotion during gambling is always impulsive, the impulse to win more or to try more, never a planned one. Majority consumers have the agenda to earn wealth and be happier than their current status and the rest of the consumers tend to feel the whole drama. Lotteries are played as a reflection of innumerable mental thoughts. Human psychology has an immense effect in the game of lottery and it is that psychological drive that makes a human strive for more.Consumer behaviour in lottery ticket purchase rotates the same mental unit as in any other retail sector.The difference is only the level of urge and choice.
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