Topic: Can online gambling compete with national lotteries? - page 5. (Read 762 times)

If governments promoted online casinos, then yes but a lot of countries have laws against online gambling, but lotteries are very accessible all over the country and the results are even televised so it will be difficult to get online casino to compete with lotteries.
Well at the end of the day, it is still just gambling but considering how good of an investment crypto is nowadays then yes I would rather buy tickets for crypto lottery

I mean imagine if I win 1 btc or something that would be dream come true

I think a big part of the reason why national lotteries are so popular is because online gambling is new and not allowed everywhere, whereas national sponsored lotteries are obviously legal. I believe this will change as online gambling becomes more popular and offers better competition to traditional gambling options.

The first issue is if such a thing is legal at all, which I doubt because as you state lotteries are state monopolies and they are not going to like for a private corporation to try to compete with them.

And the second and most important problem is that such a lottery will take place over many different countries, so the casino that tried to do this will have to comply with all of those laws, something very difficult as I doubt any single country has the same standards for their lotteries.

I am pretty sure the people that play the state lotto are completely different people who go to a physical casinos and those are completely different people who do online gambling. I dont think online gambling is a risk for any national or state lotteries.

Usually its mostly old people who play state lotteries, whenever I see someone buying a ticket its usually some old gramma. If its a young person they usually buy those scratch off tickets instead. And if you go to a physical casino its a mix of pretty much everybody.

Online gambling casinos are mostly geared towards males towards the younger side, you need to have a knowledge of computer at least, which is something most seniors lack.

The advantage of national lotteries is that the ticket is very cheap and yet the prize is very huge. So, regardless of the extremely low probability of winning, bettors continue to buy. It's money they can afford wasting anyway. It has, therefore, become a self-sustaining cycle.

The problem with crypto lotteries is that for the prize to be big enough, the price per ticket will also have to big. Although it would also mean a higher winning probability, if entries are simply unaffordable, many wouldn't be betting. In your example, 0.01BTC for a chance to win 100BTC is simply too high for an ordinary bettor like me.

For me yes, since most days, there are more transparencies in the cryptocurrency market especially if the lottery is done.
The best thing is the provable fiar technology which crypto can utilize the blockchain technology. Next is lower transaction fees and faster transactions.

That's my opinion but it depends on individual comfort levels with technology and trust in the system.

I might buy tickets for crypto base lottery, however, still the question if it is provably fair? And that's why we haven't seen anyone even from big crypto based casino to have a lottery because it's not worth it and it will not gain traction from the community.

So I guess that's the main reason, as least for me that online lotteries will not be successful as compare to state base lotteries wherein it has been proven to give the winners as long as they can present the ticket without question.

Idk, it depends I guess? I'm basing this off of the current lottery buyers that we have. I'm assuming they're of around middle to older age? At least that's what I've seen from my nearby lotteries. You'd almost always see people above age 35s to 50s hanging around there buying lottery tickets after their grocery runs or something similar.

Still this doesn't mean online lotteries would have no customers, there's still most likely going to be a significant number buying them out. Just that if I were to be asked whether one can oust the other, I don't think so.

And I think that's OPs point? What people see are only limited to what the government shows them. There are tons of ways to fool the eye lol. Compare that to provably fair manner which can be verified from your(or anyone) side.

It can but the level of trust is always in lotteries handled by the state government, the government cannot make a mistake because the whole nation will lose trust in how the government manages their affairs so they will be as transparent as possible, and Besides the majority of the people in one's country are not online players they prefer to buy their ticket in a physical station.
The majority of people are used to lotteries to drawings used by the government people can see how they unfold and if they see anomalies it will harm the reputation of the government so when it comes to numbers, online lotteries cannot compete with state-run lotteries, they cannot make a mistake and must be 100% transparent and they have the means to pay the winners with whatever amount is at stake.

I would not mind to participate in a state sponsored lottery, it is very cheap and there are always a minimum chance to change one's life for good, but I am also compelled to participate on online Bitcoin lotteries, mostly because in most of the occasions, the process to select the winners is supposed to be verifiable and provably fair, the result can be easily derived from an algorithm of cryptographic digest / hash function, and the entropy can be verifiable as well. As a side note, if my local government decided to start a state sponsored lottery, I would not participate on it, because it had been already proven in countless times how corrupt they are, and their willingness to cheat to get all their way.
On the other hand, if I lived in the European Union, I would feel safer to buy tickets issued by the state, for now I will have to stick to the free tickets one can get by wagering at Stake's casino. They have got a weekly lottery.

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.

What a comparison here! Online gambling grants various access to different varieties of games which is more profitable to gamblers, lets also talk about the bonuses and vouchers that can never be found in traditional national lotteries. When it comes to offering full gambling services then I think online gambling is the best deal. Although I acknowledge National Lotteries for the long-standing reputation and government regulations that make it possible for people who are into gambling there to gamble responsibly. So national lotteries promote more responsible gambling while online gambling makes one more addicted because he has full control.

National lotteries have being in existence for a very long time and the huge amount to be won is also encouraging which makes it have more people on its side because you don't need to stress yourself when you want to play lottery as it is everywhere. You are in the mall for shopping supermarket and many more places, you can easily have access to them even when you don't plan on gambling. National/State lottery has built trust on the people and most people prefer it than online gambling because they see it as a norm. Online gambling just came out recently and the casinos are in business which will make them not give you a huge win with very little amount of money.

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. And for sure some of these crypto bettors will find their way to these traditional lotteries as well. Because of the regular drawing of numbers with large amount of money at stake, they can attract regular bettors.


One crypto lottery contest that I believe is a popular one among crypto gamblers here is the win a lambo contest of freebitco, where bettors are buying or earning those golden tickets to join this contest. Other than that, I don't know any other popular crypto lottery contest here.
With state lotteries, the chance of winning thousands of dollars is on a regular basis, like weekly for most of these lotteries. Hence, they are indeed attracting regular bettors. They can claim the prize in person as well.

Despite on having no transparency on how winners would really be drawn out specially on state lottery or simply doesnt know about its fairness but still there are really that tons who do prefer out on
buying up tickets despite of such thing. We've seen here on crypto space that lottery based betting isnt something that do get that much attention. IF we do really tend to look around then
i dont see that much or its quite obvious that it isnt really that getting too much traction. Yes, there might be still some known sites that does have that lottery game but if you do base
up with the interest been shown then it isnt really that could be compared into those typical casino games like slots when it comes into overall interest.

For me, i would be still sticking on picking up or buying state lottery tickets despite of those issues or cons that it do have.
Odds would only differ on how many digits that you do need to guess on.

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?