things to know before you start a lottery business
TRANSCRIPT
Things to know before you start a lottery business
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Licensing For Lottery Business
To run a lottery you require a valid license
For license requirement - consult with your local/national lottery board
You can also hire experts/external consultants for fast processing in order to get a valid license for your lottery business
License – A ticket to lotterybusiness
It is mandatory to have a valid license before you start a lottery
business
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Right Market For Your Lottery
Location plays a crucial role in lottery business as it is a primary gateway to your customers
The location of a business should be convenient to the customers and employees
You may not want to miss out on the rapidly growing USSD and SMS betting as part of your mobile lottery offering
Target the niche market in order to penetrate and establish
foothold of your lottery business sooner than the later
Identify right location
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Lottery being a big profit making business, it has to be well
managed. The best way to do is by selecting the right technology
partner.
Select the right technology
Select Appropriate Lottery Technology
Platform quality and dependability – Ensure that the technology platform is reliable, efficient and does not warrant you for high capital investment
Compatibility – technology platform should easily adopt to local infrastructure and limitations
Accessibility – Should be easy to understand for agents and help you in quick decision making
Security and Trust – A robust lottery platform like LocusPlay provides highly secure environment for the ticket transactions and helps prevent fraud
Risk analysis and management – A user-friendly back office system provides you detailed reports and analytics to review the performance of your lottery
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Pick your target audience and identify the most efficient communication channel to reach them
For SMS and USSD based lottery you should maintain a customer database and have right promotion strategy
Mobile agents are crucial to increase lottery reach that gives you freedom to explore new markets
Let the existing players as well potential players know about
your lottery offering.
Know your customers
4Marketing Strategy
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Hiring The Right People
You can take help of staffing consultant and have an on-the-job training model, since hiring right staff is the key
Professional lottery solution providers like LocusPlay help with onsite training for your staff
We also help you with experienced professionals in the industry who can help in operations
Recruiting and staffing
The most challenging part lottery business is to find the right staff,
hire them with a long-‐term perspective.
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About LocusPlayLocusPlay helps transform lotteries globally. Our back office system provides you access to detailed reports and analytics for quick decision making. LocusPlay Mobile Lottery solution assists lottery to operate effectively and efficiently.
Lotteries across 3 continents are already using LocusPlay platform. Some of our customers from emerging market have experienced 4X growth in sales. 50% of our customers have switched from their existing technology providers to LocusPlay. With over 100 million tickets sold using LocusPlay and we helped save up to 80% in capital investment.
www.LocusPlay.com [email protected] | +1-‐401-‐400-‐1183