Can online gambling compete with national lotteries? - page 3.

Questat

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Quote from: famososMuertos on July 03, 2024, 04:19:47 PM

I'm lost in your idea, what's the point of...?

Lotteries in most countries are non-profit foundations, these allow them to generate additional income so that these companies can build and program goods and services for the community.

Casinos have their lotteries, so in reality it is not about competition, it is about profitable businesses, that's all, you don't have to put apples and pears in competition... even if they are fruits.

I think what the OP is trying to ask is if online casinos could compete with national lotteries, potentially surpassing them in terms of the number of bettors. Yes, national lotteries are nonprofit, with proceeds going to government projects, but let's consider the competition aspect.

National lotteries don't innovate much; they typically run the game in an old-school manner. Despite this, private lotteries still can't beat them because people are more confident in risking their money with national lotteries. They see their bets as almost a donation due to the slim chance of winning, knowing that they are also helping the country.

EarnOnVictor

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Quote from: alani123 on July 02, 2024, 04:39:14 PM

For example most countries have a national lottery where tickets can start from 1$/€ etc. In Europe one of the biggest lotteries has prizes of up to 120 million EUR for a minimum ticket price of 2.5 EUR.
In the US several lotteries such as Powerball and Mega Millions have hit jack pots of above 1 billion USD!

This makes me wonder if any online Casino could ever compete with these levels of gambling rewards and pots.

-snip-

What do you think? Would you buy tickets in a crypto lottery yourself? And would you prefer it over a state lottery?

We shouldn't compare the national lottery and casino lottery together, they are structured and planned differently, so the outcome and people's expectations about them can't be the same. As huge as the national lottery is rewarding, are people winning often through it? And as low as the casino lottery are people not winning rampantly? That is how we should view it, the national lottery will always have fewer winners while the casino lottery will always have many winners.

Also, we should look at it in the range of how quick is the outcome. There must have been many lotteries concluded with the casino lotteries in one year compared to the national lotteries, this alone means that the two are not mechanised the same way, so the outcome can be the same. For this, it is better we do not differentiate but patronise the two, after all, the national lottery is often cheap to be an alternative at any time.

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I'm lost in your idea, what's the point of...?

Lotteries in most countries are non-profit foundations, these allow them to generate additional income so that these companies can build and program goods and services for the community.

Casinos have their lotteries, so in reality it is not about competition, it is about profitable businesses, that's all, you don't have to put apples and pears in competition... even if they are fruits.

carlfebz2

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Quote from: Forsyth Jones on July 03, 2024, 03:24:58 PM

This is one of the key points of crypto over the legacy system based on monopolies and governments.

Although I have never looked into the subject, crypto lotteries are an interesting idea, as they can be done in a more transparent way, casinos can compete with each other (more prize options for customers), not financing the state mafia and its extensions (public banks, lotteries, etc.).

Not to mention that in a crypto casino, it can prove that the results are truly random by showing the code of his games in a probably fair game.

I don't know if there is actually any obstacle that prevents casinos from wanting to compete directly with state lotteries, perhaps they are not looking at it now because it may not be as profitable.

The only issue with crypto lotteries is that it isnt really that getting attention here on this crypto space as we can see that there's no much or even that it is existing which simply means that interest and demand isnt there on which we could really be able to assume up with those things just because it isnt really that too much in terms of existence.Yes, we do know that state lotteries are really that something that could be assured that it would really be totally fair and transparent on which there could really be that anomalies that could happen behind and as a citizen or bettor then there's no way that you could do something about that. This is why it cant be blamed out that there would really be those tons of people who do have that doubts but still basing up on the interest and views about state lotteries then it isnt really that still being
avoided but rather they do continue on purchasing with those tickets despite of those probabilities but well lets just accept that fact.

KTChampions

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I think for those who understand mathematics there is no choice. In the lottery, the RTP is initially less than 50%, plus if you win a significant amount, you will pay taxes (catastrophically high in some countries). In crypto, in the worst slots, the RTP will be more than 90%, plus if you win a serious amount, you will have a chance to evade taxes (quite officially - depending on how crypto is legalized in your country and at what point is considered making a profit, in some countries this is the moment exchanging crypto for fiat).

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Quote from: alani123 on July 02, 2024, 04:39:14 PM

What do you think? Would you buy tickets in a crypto lottery yourself? And would you prefer it over a state lottery?

The view of OP on lotteries and the future competition from online casinos is indeed intriguing. In particular, crypto-supported online casinos have several advantages such as transparency through "provably fair" technology plus easily accessible from personal devices. This can draw interest from players seeking alternatives to typical lotteries.

I concur that online casinos have great opportunity for large lotteries to be run as Primedice once did. But there are significant obstacles to realize this vision, particularly regulation and political threats since the emergence of competition with state lotteries could provoke a government response.

Would I purchase a crypto lottery ticket at your query? It would depend on the trustworthiness level of the platform and the visibility of the process. If crypto lotteries were able to provide better security and transparency, compared to state lotteries, it could pique more interest from people, myself included.

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This is one of the key points of crypto over the legacy system based on monopolies and governments.

Although I have never looked into the subject, crypto lotteries are an interesting idea, as they can be done in a more transparent way, casinos can compete with each other (more prize options for customers), not financing the state mafia and its extensions (public banks, lotteries, etc.).

Not to mention that in a crypto casino, it can prove that the results are truly random by showing the code of his games in a probably fair game.

I don't know if there is actually any obstacle that prevents casinos from wanting to compete directly with state lotteries, perhaps they are not looking at it now because it may not be as profitable.

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Quote from: alani123 on July 02, 2024, 04:39:14 PM

National lotteries are one of the very few ways someone could win millions by gambling. While the odds of winning are astronomically low, there's generally a sentiment that it might be worth it given how low the stakes can be.

For example most countries have a national lottery where tickets can start from 1$/€ etc. In Europe one of the biggest lotteries has prizes of up to 120 million EUR for a minimum ticket price of 2.5 EUR.
In the US several lotteries such as Powerball and Mega Millions have hit jack pots of above 1 billion USD!

This makes me wonder if any online Casino could ever compete with these levels of gambling rewards and pots.

For one usually the national or state lotteries are usually monopolies so there can't be competition. Which allows them to get huge. Also there's supposedly strict regulation and they have very long histories so people tend to trust them. So this might make it difficult to compete with national lotteries. The demand for these games is also a problem because they're mostly sold through physical stores.

The good thing with lotteries is that on the face of huge rewards, players tolerate a very low RTP. Many lotteries have an RTP of 50% even which is crazy low compared to online gambling which tends to have RTPs no lower than 95% usually.

I think online gambling might have hopes to compete with lotteries given how huge and international it's becoming. In fact, I don't know what's holding some of the large casinos back. Maybe they see it as a political threat to their existence if they compete with state lotteries? Could be...

But I'm sure that at least to some extent there is the possibility for a large casino to run a lottery. For instance I remember Primedice used to run a lottery of over 100 BTC. With current prices that would be over 6m USD! Ofc to win all the pot you required bets of over 0.01 BTC so the entry barrier was pretty high. I'm not sure if that lottery is still running actually. But the potential is surely there.

A lottery running by a crypto enabled casino would have a technological advantage in having the possibility to run on a provably fair manner whereas national lotteries these days are often ran with virtual draws that can't be verified to be random. That along with the ease of use of accessing the purchase of tickets from your personal device could also be considered an added benefit.

What do you think? Would you buy tickets in a crypto lottery yourself? And would you prefer it over a state lottery?

In most national lotteries that I know they tend to run once or even twice a week and they are able to raise millions because there are millions of tickets sold. It is remotely theoretically possible that a crypto lottery could reach this level, however it requires reaching that "critical mass" on a regular basis and I'm not sure there are enough people on to crypto scene to give it the required scale. However, if people were content with smaller numbers, say hundreds of thousands of dollars in bitcoin per win, on a slightly less frequent basis, then it is more achievable. You'd have to put a lot of money into advertising it though and I'm not sure it could keep up enough traction over time or we might have seen someone break out into this field already.

uneng

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Quote from: alani123 on July 02, 2024, 04:39:14 PM

What do you think? Would you buy tickets in a crypto lottery yourself? And would you prefer it over a state lottery?

Lottery isn't my favorite gambling category. The chances are too low and there isn't too much excitement when playing on them, because you don't play in real time. You just purchase a ticket and wait for the result day. And regards crypto lotteries, the chances of winning are too low, because the tendency is that there is a much larger number of participants on the draw compared to local national lotteries. Maybe to participate minor draws, like the ones we have at casinos' chats, where some portions of cryptocurrencies are shared every hour for the active members it's more entertaining, because winning chances are pretty decent, considering there is a small number of active people on the chat.

However, when we talk about more popular lottery draws which involve larger groups of people from different countries, I think it doesn't worth at all. As an example, we have freebitco.in's lottery, which I have been participating for several years already and never won anything from it. The winning chances are tiny.

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Quote from: alani123 on July 02, 2024, 04:39:14 PM

National lotteries are one of the very few ways someone could win millions by gambling. While the odds of winning are astronomically low, there's generally a sentiment that it might be worth it given how low the stakes can be.

For example most countries have a national lottery where tickets can start from 1$/€ etc. In Europe one of the biggest lotteries has prizes of up to 120 million EUR for a minimum ticket price of 2.5 EUR.
In the US several lotteries such as Powerball and Mega Millions have hit jack pots of above 1 billion USD!

This makes me wonder if any online Casino could ever compete with these levels of gambling rewards and pots.

For one usually the national or state lotteries are usually monopolies so there can't be competition. Which allows them to get huge. Also there's supposedly strict regulation and they have very long histories so people tend to trust them. So this might make it difficult to compete with national lotteries. The demand for these games is also a problem because they're mostly sold through physical stores.

The good thing with lotteries is that on the face of huge rewards, players tolerate a very low RTP. Many lotteries have an RTP of 50% even which is crazy low compared to online gambling which tends to have RTPs no lower than 95% usually.

I think online gambling might have hopes to compete with lotteries given how huge and international it's becoming. In fact, I don't know what's holding some of the large casinos back. Maybe they see it as a political threat to their existence if they compete with state lotteries? Could be...

But I'm sure that at least to some extent there is the possibility for a large casino to run a lottery. For instance I remember Primedice used to run a lottery of over 100 BTC. With current prices that would be over 6m USD! Ofc to win all the pot you required bets of over 0.01 BTC so the entry barrier was pretty high. I'm not sure if that lottery is still running actually. But the potential is surely there.

A lottery running by a crypto enabled casino would have a technological advantage in having the possibility to run on a provably fair manner whereas national lotteries these days are often ran with virtual draws that can't be verified to be random. That along with the ease of use of accessing the purchase of tickets from your personal device could also be considered an added benefit.

What do you think? Would you buy tickets in a crypto lottery yourself? And would you prefer it over a state lottery?

it's not everyone who knows about crypto lottery and those who knows about it, do preferd it more than state lottery why because you can't compare crypto lottery to state lottery the income while betting on crypto lottery it 100% profitable more than state lottery. And state lottery it's well known to all country and it's regulated in all areas of the world, and buying tickets in crypto lottery it's more preferable than any.

So for the crypto lottery can't make someone to get addicted so easily but the state lottery makes people to get more addicted so fast.

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Quote from: Rruchi man on July 02, 2024, 05:31:11 PM

Quote from: AmoreJaz on July 02, 2024, 04:54:20 PM

I believe there's no competition on this type of gambling, state/national lotteries have their local loyal patrons. Whereas, when it comes to online lotteries specifically crypto lotteries, they have their audience also.

Crypto lotteries will attract people who have more knowledge about cryptocurrency; people with no knowledge about cryptocurrency would not even want to try it out, so just as you have said, national lotteries will always have their own audience and relevance, maybe up until the time when everyone has knowledge about crypto or when the number of people with knowledge about crypto and crypto lotteries becomes more than the number without knowledge of it.

Most people who gamble or involve in lotteries do not even know what it is they are getting into. Motivation for them is the winning they hope to get and the cash incentives, nothing else. If those who gamble know they will loose, none of them will be gambling despite any form of knowledge they have on it. My first crypto gambling I took part in was at a time I did not even know what cryptocurrency was. What attracted me was the prize that I will win and that was how I got involved and lost that. Many people are like that, knowledge or not.

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I don't remember any casino that allows their user to win up to a billion dollars but there are casinos that allow users to win up to a few hundred BTC.

But you are seeing it in completely wrong way, lotteries or casino are gambling in general so whoever is running that is not doing that for service just only for profits so does the national lottery as well so there are not really competing against each other in any way while the chances of winning national lottery will be thin according to how much people are participating so casino lottos are actually much better comparing those in terms of winning percentage but anyways those are negligible amount.

bering

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Lotteries offering huge money for the prize but the percentages to win those prizes is less than 1% but we all know Lotteries will never been lack of interest especially for National Lotteries because people always be excited to boughts the tickets for everyday and hoping to gets the jackpot although they know their chances to gets the prizes is very small and for online gambling which usually online casinos and this type of gambling is offering various games to satisfied the gamblers and the percentages to win for each bets is higher compared to Lotteries

Regarding the question i think yes that online gambling can compete against the Lotteries but only from the popularities because we all know currently almost every countries in the world know online gambling and the development of online gambling is very rapid even i am sure online gambling users are far more than lottery users but indeed some of old fashion gamblers are more likely to used the Lotteries rather than online gambling so that's why in the some countries some Lotteries users are dominated by older people

aioc

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It can compete, but bettors will always prefer the national lotteries; here in our country, people have already betting on a lottery long before the inception of the internet or online casinos, and you cannot break the tradition even if these online casinos are well marketed.
Lottery bettors do not want to deviate from something they have been so familiar with for so many years, especially the old lottery bettors, and it's hard for these people to leave their traditions.

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If it won't be too much of a hassle then of course I would prefer betting personally. However, this will be resting between individual's preference; some would of course be choosing convenience which is to bet online but some would be more into outlet betting. Eitherway would be fine but I think legitimacy is most likely with outlets than with online platforms which are prone to hacking.

Quote from: moneystery on July 03, 2024, 08:33:05 AM

maybe because the national lottery is supported by the government and more accessible to people even in remote areas, it makes the national lottery more users compared to online casinos. the rewards they offer are also usually very large and people can bet with just a few dollars. while online casinos, people need a cellphone, and not everyone understands to navigate online casinos from their devices, especially for the older generation, they are too lazy to use their devices just to play the lottery. so that might be the reason why the national lottery has more users and is more in demand by many people.

It has more people because many are used of doing such thing even as part of their routine especially the elders and I agree that not all people are tech savvy to bet casually on betting sites. People are also afraid of fines if they would be caught

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I think that the ideology you have about the State, and the nation where you live, can be another key to prefer national lotteries versus online gambling. I mean, if someone is an anarchist or ultraliberal chances are that they wouldn't want to contribute to the wealth/power of the state by principle, and especially in the second case be more prone to favor a private company. On the other hand, if you live in an authoritarian country the effect could be the same.

On the other hand, in a country where a majority thinks that the government is doing things right (the paradigm of that feeling would be the one from Nordic countries), in addition to the increased safety about getting paid and last, but not least, bigger prizes, the effect would be the contrary.

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Quote from: alani123 on July 02, 2024, 04:39:14 PM

Can online gambling compete with national lotteries?

Online gambling and lottery gambling Both are competitive, but that doesn't mean one will lose, both compete professionally and give each other a good chance for their users to win high amounts of money.
I've read about online gambling vs. lottery gambling, as far as I know, lottery is often played by those aged 50 and over, while online gambling is mostly visited by people in their 20s and over, such as sports betting, poker, slots and so on, Likewise, the jackpot offered is not half-hearted for those who are really lucky in ring gambling games, although lottery gambling also promises big money for one ticket, for those who are lucky.

My understanding is that both have their own appeal in terms of gambling, for the betting public, no matter the RTP available for both, what is clear is that competition between the two is normal and a natural thing to show their respective advantages.

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Quote from: moneystery on July 03, 2024, 08:33:05 AM

maybe because the national lottery is supported by the government and more accessible to people even in remote areas, it makes the national lottery more users compared to online casinos. the rewards they offer are also usually very large and people can bet with just a few dollars. while online casinos, people need a cellphone, and not everyone understands to navigate online casinos from their devices, especially for the older generation, they are too lazy to use their devices just to play the lottery. so that might be the reason why the national lottery has more users and is more in demand by many people.

The government are also supporting online gambling. Also that there are many people that are gambling online. In my country, you will see betting agents for people that do not have browsing phone to use agents to bet. You do not a phone or laptop or computer to gamble before you can have access to the gambling site. You can just use a betting agent. It is rear to see a street that will not have more than 1 betting agents.

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Quote from: alani123 on July 02, 2024, 04:39:14 PM

This makes me wonder if any online Casino could ever compete with these levels of gambling rewards and pots.

I don't think so because casinos offer many different games while the Euromillions lottery has a marketing that makes it possible without much effort: the jackpot. The chances of winning the Euromillions jackpot are so low that on average if you lived a thousand years and played 2,5€ twice a week you wouldn't win. The maximum prize of the Euromillions, without jackpot, is 17 million euros, but as usually nobody wins, the jackpot is accumulated for the next one, and if you don't win, it is accumulated again. As the figures of the first prize become astronomical, people go crazy buying to get out of their shitty lives.

Casinos can't compete against that.

moneystery

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maybe because the national lottery is supported by the government and more accessible to people even in remote areas, it makes the national lottery more users compared to online casinos. the rewards they offer are also usually very large and people can bet with just a few dollars. while online casinos, people need a cellphone, and not everyone understands to navigate online casinos from their devices, especially for the older generation, they are too lazy to use their devices just to play the lottery. so that might be the reason why the national lottery has more users and is more in demand by many people.

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