Types of Lottery Business

Types of Lottery Business

What is Lottery?

A tool for raising cash, by trading varied sets of numbers, and distributing rewards to the bearer for the set of number drawn at random. It is a game whose victory or failure is lead by probability.

Essential Ingredients of Lottery are:

Ingredients of lottery

Grounds for starting a Lottery are either of the two “F”:

Factors of lottery

Lottery is a business of Chance & Probability, if one wants to experiment with their fortune, one of the most interesting platforms is this. It does not only pool in money to award the winner, but also acts as a support for the social causes around.

So, lottery is a game to be enjoyed and to be made enjoyable.

Usually one always goes for what comes first and handy. If one fails to understand the layout, they step back. And so, starting a lottery is not that difficult a task. There exists various models, one just needs to look which suits their needs best and go ahead with it.

“Variety creates choices, choices create enthusiasm and finally enthusiasm creates greater involvement.”

Models of lottery

  1. SOCIETAL LOTTERY
    • Societal lottery can be conducted by any group, institution, corporation or association of person and any separate section of any such entities.
    • It is boosted to uplift funds for various Non-Profit organizations.
    • Societal lottery is categorized into three types:
      1. Small Societal Lotteries
        Has a maximum limit for the tickets that can be sold and can function without a Gambling Commission License.
      2. Large Societal Lotteries
        Has a minimum limit for the tickets to be sold and necessarily need a license to function.
      3. Private Societal Lotteries
        Only a member can publicize private lotteries, and market the lottery only to members of the same society and those who are present at the site.
  2. WORK LOTTERY
    • Such lotteries are just for pleasure and can only be conducted and played by co-workers at a certain workplace.
    • All the earnings should be utilized for rewards or expenditures done to organize the lottery.
    • No license or registration is required to conduct Work Lottery, except when the workplace does not allow such activities then registration is required.
  3. RESIDENT’S LOTTERY
    • The campaigner of lottery must be an inhabitant and lottery tickets can be sold to only the other residents of the same habitat.
    • Such lottery does not require any permission to function.
  4. CUSTOMER LOTTERY
    • This lottery can only be run by a particular venture at its own site, just for its own consumers.
    • There has to be a limit for the prize that will be awarded.
    • No licensing is required to run Customer Lottery.
    • No promotions can be generated or publicized.
    • The tickets provided to customers should be non-transferable.
  5. INCIDENTAL NON-COMMERCIAL LOTTERY
    • Such lottery can be conducted during some specific event. Lottery tickets must be sold while the event is on and the results should be declared during the event.
    • Does not require any licensing or registration to function.
    • No rollover of prizes should take place.
  6. LOCAL AUTHORITY LOTTERY
    • Conducted by local authorities about a place.
    • To function, an operating license is necessary.
    • The earning can be used for any purpose related to incurring the expenditures.
“Teaching helps to memorize, but involvement supports learning and generates a feeling of belongingness.”

This is how the Digital world has transformed the Lottery Industry. The buzz being:

Online Lottery Business

Online Lottery has created a platform, that has made gaming accessible and more exciting.
It is a platform which enhances the system productivity by enhancing the reliability factor and creating a streamlined system.

Yes, the magic of technology, different features, but still connected.

“A good example is always better than a good percept.”

Case Study: SOUTH AFRICA

Lottery Models that operate in South Africa:

Lottery types in south africa

  1. PRIVATE LOTTERY
    • Regulated by the Lotteries Act.
    • Self-regulated
    • Any written intimations are not allowed to be displayed, except for the lottery ticket and the premises lottery is being held at.
    • The maximum number of lotteries that can be run in a year are 12.
    • No administrative fee or expense share would be deducted from the lottery earnings.
    • The price of a single ticket would range from R10 to R10,000.
    • The gross value of the prizes must not exceed R10,000.
    • The promoter or initiator of the lottery should be an authorized member of the private Organization that is conducting the lottery.
  2. ENTERTAINMENT LOTTERY
    • Regulated by the Lotteries Act.
    • Basically it is self-regulated, but needs to observe a few rules to stay within the legal boundary:
    • All proceeds must be utilized for the benefit of the public welfare.
    • None of the prizes should be monetary and the complete value of the prizes should not exceed R5000.
    • Pricing for the tickets should range between R10 to R10,000.
  3. SOCIETY LOTTERY
    • These are lotteries conducted to uplift reserves for various non-profit ventures.
    • Regulated by the Lotteries Act
    • Society lottery must be organized completely within South Africa.
    • Organizations gaining from the lottery should in no way be related to gambling, betting and lotteries.
    • Entire proceedings after the deduction of expenditures should be consumed for charitable purposes, promotion of cultural and sports activities etc.
    • Society lottery should be compulsorily be licensed by the NLB (National Lotteries Board).
    • No extra than 6 lotteries can be organized in a year on behalf of a particular society.
  4. PROMOTIONAL COMPETITIONS
    • Administered by the Consumer Protection Act.
    • Basic rules laid are:
      1. Ban on misleading communication.
      2. Prohibition of payment to participate.
      3. Restriction on prize winners.
      4. Responsibility to publish rules and other details.
      5. Rights of participants.

** For more details visit : http://www.nlb.org.za/competitions/types-of-lotteries-and-regulation.html

“LOTTERY may seem a small word, but it has a lot of opportunities attached to it. Want to start one yourself, check what best suits you. Don’t just make it a business to fill currencies, but make it one that uses currency to generate well-being. There are many sides to a single subject, change the face of lottery to one that includes fun and faith. ”

** For more details visit : http://www.nlb.org.za/competitions/types-of-lotteries-and-regulation.html

By | 2017-06-02T15:38:40+00:00 June 4th, 2015|Online Lottery Software|