Why it is the Perfect Time to Digitize Your Lottery Operation
The unfortunate Covid-19 pandemic has made every operator realize that online gaming is the way forward, and the lottery sector has not been an exception to this. Some lotteries had some decent online gaming platforms before the pandemic, but in the last 18 months, the improvement of those platforms has been immense.
The lotteries industry is a bit more specific than the other gambling sectors, so it is widely agreed by experts worldwide that the improvement of the digital channels should not come at the expense of the relationship lotteries have with their customers. At the very least, the online platforms and the retail operations should co-exist and enhance each other.
Impact of Covid-19 on the Retail Business
The sudden outburst of the Covid-19 pandemic has put a stop to many industries across the world, and the retail lottery sector was badly hit. Lotteries are something that will always be popular, but with no one visiting the retail shops, and no online site for the players to enjoy, the operators had to bear huge losses.
Retail lotteries started cooperating and exchanging information on what is the best way forward. The revenue they lost due to the closure of their retail shops set an alarm for what the future may bring for the whole industry. Facts speak for themselves. You cannot be sure what modern times will bring you, so you have to be well-prepared for any scenario, and you must have a Plan B. That plan B is creating fully functional online gaming platforms.
The Digital Channels Survived and They Did Good
Even before the pandemic, it was evident that most of the gambling started to shift online, so many operators realized it and started working on their new online gaming platforms. However, there were certain companies that refused to take the risks, as they were quite happy at how their retail shops were functioning. It is safe to assume that those companies would now give everything to go back in time and re-think their strategy.
The lottery businesses that had an active digital marketing strategy, together with a strong online presence and apps where people can gamble, have driven the industry forward during the pandemic. Non-essential businesses were closed, and it added to people spending more money on gambling.
Having an online platform means that the operational costs of the lottery business are reduced, together with some other expenses that physical gambling brings. The human resources needed to run the business are decreasing, making governance much more simple and easy, and it also makes dealing with different regulators or agencies more straightforward.
How This is Changing the Customer Behaviour
The benefits of the digitization process of the lottery industry go both ways. As mentioned above, the operators get to reduce their operational costs, and the players get to enjoy an even better gaming experience, no matter the time or the place. So, the whole process not only improves the sales percentage, but the player-experience perspective is growing.
Players have realized that by gambling online they can interact with the operator at any time using just the mobile app they have downloaded on their mobile device The winnings they've made can be withdrawn instantly, and they can be deposited directly into their bank account. This process is now in full motion, and the results are excellent, players have the ultimate gaming experience, and they can enjoy gambling at any time of the day.
How Digitization Will Help in the Future
The good news regarding digitization is that it is not something that you make to fix a short-term problem. The results of the whole process will have a significant impact on the lotteries sector in long term. The online gambling trend is now winning over the retail sector, meaning that companies now will fight to offer a better solution to their players.
These developments will create some big opportunities for the lottery market to grow even more. As said before, the lottery industry is something that will never lose its appeal, so imagine what the future might hold if you make it even better. The results of the operators that have created solid online gaming platforms are there to be seen, so as the technology gets better, we can expect some sensational results in the future.
Let's Digitize Lotteries
The increasing popularity of the lottery market is exceptional. Despite the closure of the retail shops for over a year in most places over the world, the strength of the sector has increased even more. This just illustrates the need for more improvements to be made in the digitization process. New technologies and innovations are expected to help the market grow even more in the near future.
There hasn't been a better time to start digitizing the lottery industry, and it seems like a no-brainer. You wouldn't dive into the unknown with a step like this. All the data collected during the Covid-19 pandemic shows one thing - the digital world will survive anything, the retail sector is very vulnerable.
How to start Digitization of your lottery Business?
For a transformation to a new Digital medium, it is essential one partners with an established technology partner which understands your business and can help take it to the next level through tailor-made solutions. Skilrock doesn't just digitize your lottery platform but we go above and beyond to solve all your problem while digitizing by providing your players an ultimate experience whether it is the gameplay, registration process, KYC, ease of payment, player journey, etc. Our unique Lottery & iGaming contents are capable of creating unmatched engagement and bring new players to your platform. We hold a niche position as a Lottery & iGaming platform solutions provider, our services are ROI-driven and comes with the highest level of customization. Skilrock is a technology arm of the $2.4 billion Sugal & Damani Group, who are leaders of Indian lottery & gaming operations, with over 50 years of experience. Skilrock's omni-channel platform “INFINITI” is designed to help lottery operators meet the requirements of any market, anywhere with ease and at the same time, it supports a wide variety of games and Slots. More than 200,000 retail touchpoints and over 5 million iGaming players across 27+ jurisdictions have been serviced by Skilrock.