When starting a lottery business online, choosing the best software to manage your gaming platform is one of the most important decisions you’ll make. While many operators are tempted to develop their own custom lottery platform from scratch, most quickly find that pre-built lottery management software is a more cost-effective solution. But, not all lottery software providers are the same. How will you decide which solution is best for your lottery business?
With some lottery software providers, you’ll simply add your logo to a selection of ready-made games and enjoy a predetermined set of features. With others, you will have varying levels of customization and integrations available to differentiate from competitors and exercise more control over your business operations. With all of them, you’ll want to be confident that the provider behind the lottery software will deliver the level of service you need, by offering ongoing support, maintenance, upgrades, and more.
This guide will help you to better understand not only what a lottery software provider is, but also what questions to ask about lotto management systems before committing to one.
Lottery management software is the technology that powers the operations within your lottery business. Also called a “lottery platform,” lottery management software is responsible for delivering the customer experience—including games, features, payment processing, payouts, and more.
For lottery business owners, these platforms also provide back office capabilities. The best lottery solutions will allow operators to manage and report on operations ranging from player and game controls to sales, marketing, staffing, security, and other business functions.
Ask this question to learn about the features a lottery software provider offers. Even if you are starting a new lottery business with minimal options, you’ll want to know what games, features and management capabilities will be available as it grows. If you’re looking to establish long-term profitability, a full-featured lottery platform is highly recommended.
Not every lottery software provider will have every game and feature you need. That’s where integrations come in. Lottery platform integrations allow you to add 3rd party games and features, as well as connect with other networks to reach a wider audience.
In the rapidly evolving gaming industry, player habits and preferences are constantly changing. A lottery platform with unlimited integrations will ensure that you’re able to respond to the latest trends with ease, instead of being stuck with outdated offerings while the competition passes you by.
For example, integrating with multiple payment processors will make it easier for customers with different payment methods to do business with you. It will also allow you to choose processors with the lowest fees, so you can keep more of your profits.
Payment processors make it possible to conduct transactions and deliver lottery payouts to customers. Some lottery software providers will integrate with a wide selection of payment processors, while others may offer a limited few.
When it comes to payment processors, more is better. Merchant accounts and payment gateways can come with high-fees and limited options, so you’ll want to have the freedom to choose those with the most benefits and the fewest drawbacks. Getting stuck with the wrong payment processor will have a negative impact on your bottom line.
Your customers will appreciate more options as well. When you can offer multi-currency payments, accept a variety of payment methods, and deliver payouts in several ways, they will have more reasons to do business with you.
Before committing to a lottery software provider, you’ll want to consider the most popular channels for reaching your target audience. If a lottery platform isn’t designed around the playing habits of your customers, or the technology they use most, you’ll have a hard time marketing and growing your business.
Will you need a website to host your lottery games for desktop users? Will your audience purchase tickets in a retail environment? Through a kiosk? With a smartphone? Are you planning to develop a mobile app, or will players in your market rely on USSD to purchase lottery tickets online? The better you know the market, the easier it will be to identify the best lottery software provider to reach your audience. Just be prepared with the right questions to ask before starting your lottery business.
There are a lot of steps involved in making your own lottery business. A turnkey solution refers to a lottery software provider that streamlines the process, so all you have to do is complete a brief onboarding phase to get up and running.
Turnkey platforms can be a great way for launching quickly with limited resources, but they are not all created equal. Be sure to confirm whether any lottery software provider offers the capabilities you need, not just for the short-term, but as your business grows. This may include:
The best lottery software providers know that solid back-office capabilities are essential to running a profitable lotto business. A full-featured lottery platform will provide operators with complete control over the management of games, features, personnel, players, vendors, and other integral aspects of their business. From setting prize tables and security alerts to monitoring performance metrics with real-time reporting, access to a rich toolset will provide a significant advantage. Before committing to a lottery software provider, determine what back-office functions you’ll need and request a demo to better understand how you will use them.
The most successful lotteries not only attract customers, they retain them. Lottery management software that provides your business with robust sales, marketing, and promotional tools is a must. This includes seamless customer wallets, loyalty and rewards systems, affiliate & referral tracking, and integrations with third-party marketing systems and CMS platforms.
For many years, only the biggest lotteries with custom-built technology could conduct marketing and sales operations from a single platform. Today, the best platform providers are truly leveling the playing field by bringing these powerful tools to lottery startups of all sizes.
Gaming Laboratories International (GLI®) is a world-class organization dedicated to providing risk mitigation for lottery businesses through independent testing and evaluation of technology.
From ticket security, durability, and alterability to services focused on core operational areas in risk management, GLI is the gold standard for validating safe and secure practices for lotteries around the world. A lottery software provider that has been independently certified by GLI will provide valuable peace of mind.
Starting a lottery business has enough risks already. You’ll want a lottery platform that provides protection against threats before they manage to become a problem. This means GLI-certified platforms with strong verification systems and Know Your Customer (KYC) verification to prevent fraud and other vulnerabilities.
In the high-risk lotto industry, strict adherence to anti-money laundering practices like Know Your Customer (KYC) are required for lottery businesses, but not all providers may place the same level of importance on them. You will also want to have real-time visibility into player activity to detect suspicious credit card activity, set up fraud alerts, and catch any form of fraud or misuse before it becomes a threat. Additional features for protecting your lottery business from excess losses include jackpot insurance and exposure limits. Be sure to ask about all of these risk mitigation features when researching lottery software providers.
Every lottery business should prioritize 24/7 technical support from their lottery software provider. Downtime can be extremely costly, but even routine technical needs can have a major impact on your business if they aren’t promptly addressed. To be certain that your provider will respond quickly to issues, ask how long it typically takes to resolve support requests. Ask what types of support are available—phone, chat, email? Don’t be tempted by low-priced providers if they don’t have a demonstrated track record of excellent customer service. Too many lottery businesses find out the hard way that a software provider’s technology is only as good as their reputation for standing behind it.
As an entrepreneur looking to start a lottery business, you need a lottery software provider to power it. However, all lottery platform providers are not the same. When choosing, do your homework, ask the right questions, and don’t just settle for a software demo.
Instead, get a free, customized lottery growth plan that maps your lottery business needs from launch through all of the stages of lottery growth. Schedule your introduction with 4 Leaf Lotto today and set your lottery business up to win.