Things to Consider Before Choosing Your Online Lottery Software Provider
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Choosing an online lottery software provider is one of the most crucial decisions you’ll make in your entrepreneurial journey. It’s one of the decisions that can play a major role in deciding the fate of your business.
Since it’s a long-term partnership, it requires loads and loads of research on your part. Though doing a simple google search will render you innumerable results, how would know the one you are choosing is right for you? How do you know that the vendor will be able to understand your business goals as a lottery operator?
Well, there are a few things you must consider before finalizing your online lottery software partner. These will help you know if the online lottery technology partner is right for your business for the long run.
But before we take a look at those, let’s take a look at all the things you should do before you start looking for your online lottery platform provider to start your online lottery business.
Things To Do Before Starting your Online Lottery Platform
Starting a business is no easy task. It takes a lot of work, resources and investment. No wonder, several dream of doing it right the first time. And that requires a lot of groundwork. Having knowledge about the field you want to invest in helps you build a strong foundation and keeps you prepared.
Hence, below are a few things you must do before you start looking for an online lottery software partner.
It doesn’t matter how unique your offerings are or how high-end a product you are planning to launch, doing research helps you understand the industry better. It helps you know what you are getting into, what the industry already has, and how your offerings will set you apart from the rest.
- Know Your Customers
Remember, you are not building the online lottery platform for yourself, but for your customers. Your software solution will be used by them, not you. Hence understanding who they are, what they like, what they don’t like and what they already have access to will help you create effective business strategies. Know your target audience, know their age, their geographical locations, their preferences, their expectations etc.
- Study Your Competitors
The internet is already filled with several online lottery platforms. But you can use this to your advantage. You can create a list of all the online lottery platforms to study them, understand what they are doing right to retain their customers, areas where they are lacking, their strategies to enhance their user base, how they are positioning their product, how they are marketing themselves etc. Your competitors can be a goldmine of knowledge and data.
- Outline Challenges
Every single business faces it’s fair share of ups and downs. Hurdles and roadblocks slow everyone down. But, this can be minimized by being prepared. Recognising possible challenges in the start can help you prepare in advance.
- Think About Branding
Your branding will make you memorable. It will allow you to create powerful first impressions on your potential customers. Over time, it will help you establish credibility among your audiences. Importance of branding cannot be emphasized enough. While creating your brand guidelines, make sure you follow the guidelines of modern design. You can also hire professionals to do this for you.
- Map Out Jurisdictions
There are alot of jurisdictions where the lottery is immensely popular. But, different jurisdictions come with diverse regulatory terms. Make sure you understand all the laws, jurisdictional requirements and terms of business operations before you finalize the region where you want to operate in.
- Know the Latest Features
This is another important aspect that will play a massive role in the success of your online lottery software solution. The features. Features enable your customers to do more, make the platform user friendly, help you meet expectations and most importantly, keep you ahead of your competitors. Make sure you study your competitors as well as the market and create a list of all the latest and most useful features to include into your online lottery platform.
- Know the Types of Solutions
Custom or white label? That’s one question that makes every entrepreneur scratch his head. After all, it can get really confusing. It basically depends on your requirements and how soon you want to launch your online lottery business. If you are in a hurry, you can go for white label software solutions, if you want every single element on your online lottery platform to be customized as per your wishes, custom online lottery software solutions would be perfect.
- Create Budgets
Creating budgets is always tricky. Especially when it has to be done beforehand. But there are a few areas that are always clear. Some of these are online lottery platform development costs, maintenance costs, branding, marketing, office rent/mortgage costs, loads, insurance, office equipment, employee salaries, etc. Outlining the areas will help you plan ahead and manage your budgets seamlessly.
- Outline Short Term and Long-term Goals
Creating short-term and long-term goals will not only help you with budgeting but will also allow you to plan better. Outlining these will also help you understand the resources you’ll need. Give a lot of thought about where you want to reach in the long-run, and your goals will help you stay focused.
- Create Marketing Strategies
The sooner you start working on this aspect, the better. Make sure you’ve created hype among your target audiences before launch so they are eager to try your new lottery platform. After the launch, think about ways to reach more audiences, acquiring new customers and retaining others. Sign up bonuses and loyalty programs can help you in this area immensely.
- Start Building Networks
Last but not the least. Network. As much as you can. You never know where the next opportunity, your next big idea, your most needed resource or advice can come from.
Now that we know about all the groundwork that’s required, let’s jump to the traits you must look for in your online lottery software provider.
Traits to Look for In your Online Lottery Technology Provider
Finding an online lottery software provider is easy. But finding an ideal one is tough as well as a daunting job. Hence, we have created a list of all the things you must look for into your potential online lottery technology provider before finalizing one.
- Look for Stability And Credibility
According to InformationAge, stability and credibility are the most important traits to look for in your online lottery solution vendor. Number of years they have spent in the industry, their clientele, their testimonials and their goodwill in the industry. Make sure they have been in the industry for a long time and have enough experience in building online lottery software solutions.
- Working Demo
A few lottery technology providers provide you a working demo. The meeting could be arranged on Skype or Zoom. Seeing a working demo will give you a clear understanding about the kind of expectations you can have with the provider and the scope of enhancement.
- Licensing Support
Licensing can be a lot of hassle. Your online lottery solution must meet the criteria, it must have a self-exclusion policy, must promote responsible gambling and so much more. On top of these, it also requires a lot of paperwork. Hence, choosing an online lottery software partner that provides licensing assistance makes the complete process a mere cakewalk.
- Lottery Games Integration
Lottery games will be the heart and soul of your online lottery platform. They are the reason why people have started moving towards online lottery platforms. Having a wide selection of engaging games on your platform will allow you to bring in more audiences and will also enable you to enhance customer participation. While finalizing your vendor, make sure they provide integration of all the top lottery games.
- International Lottery Integration
For players who play the lottery religiously, compromising on international lotteries is a big no no. Hence, while talking to your lottery software vendor, make sure you ask about all the international lotteries for which they provide integration services.
- Check the Features
Remember we had created the list of all the latest features? Now is the time to enquire about them. Make sure you get all the crucial features into your lottery solution such as random number generator, performance monitoring tools, player management tools, P2P referrals, secure payment modes, player stats, multiple lottery ticket formats, agent management systems, wallet systems, real-time notifications and updates, back-office tools, multiple lottery pools/contests etc.
- Payment Gateway of Choice
Though all the iGaming software providers have tie ups with third-party payment gateway providers, but is that enough? When it comes to security of your customer’s data, transaction speed, chargebacks, etc, you cannot compromise. Hence the option of getting the payment method of your choice must always be open to you as it gives you a lot of freedom and control.
- Sole User Data Ownership
Several vendors share the ownership of the user data. This data can be used in several ways, which can take a toll on your customers’ security and your platform’s credibility. Hence having complete ownership of customer data is crucial.
- Opt for Scalable Lottery Solutions
Your user base will grow. It can start from hundreds and reach thousands! Hence, it’s important that your lottery platform also grows with your users in order to accommodate them. Ask your vendor about the scalability of the platform before finalizing.
- Maintenance Services
Your lottery platform will require maintenance. That’s inevitable. You’ll need someone to fix the bugs, install updates, deal with the outages etc. Hence, instead of searching for a maintenance provider, for whom your whole lottery platform would be new, it is always advisable to choose your platform provider as your maintenance service provider.
- Marketing Services
You know who understands your business the most besides you? Your lottery software vendor. They understand your challenges, your budgets, your requirements and your goals. Always ask the potential online lottery solution provider about the marketing services.
- Customer Support
When you run into troubles with your online lottery software, you seek support. Hence, having 24/7 customer support allows you to get your queries resolved, get support and ensures your business runs smoothly without any disruptions.
- On-demand Customizations
You must get everything you paid for. Hence, on-demand customizations are a must. From design schemes to tools, from features to APIs, on-demand customizations enable you to get all the changes done as per your desire.
- User Manuals and Training
Last but not the least, user manuals and training. Receiving the training and user manuals not only help you get familiar with the software solution but also allow you to use it fluently and effortlessly. Always ask your vendor if you’ll be receiving complete training as well as user manuals for your lottery platform.
Want to Know More?
Want State-of-the-art Online Lottery Platform Solutions? GammaStack can Help!
GammaStack specializes in providing next-generation online lottery solutions that come with a myriad of latest features and tools. Each feature and each tool gets incorporated into the solution to help you do more, simplify management, generate more traffic, enhance engagement, increase participation while maximizing your ROI as well as profits.
In addition to providing cutting edge solutions, we also provide you with a working demo to get started with, on-demand customization services, marketing support, 24/7 customer support, sole ownership of data, lottery games integration services, international lotteries API integrations, licensing support, maintenance services, and much more. Want to know more? Contact us today!
FAQs On Choosing Your Online Lottery Software Partner
Yes, when our customers get in touch with us, we show them the complete working demo so that they know what they can expect. Once they are satisfied, we make all the features as well as tool enhancements, software integrations, games integrations, API integrations, front-end as well as backend customizations to ensure all the needs of our clients are met.
Yes, we do. To ensure you get maximum value out of your investment, we provide you on-demand customizations and make all the changes as well as enhancements as per your requirements.
We provide marketing services, 24/7 customer support, games and API integrations, payment gateway integrations, licence support etc.
Yes. At GammaStack, we provide you with a ready to launch online lottery solution that gets ready to go live in a few weeks.
Yes, we provide integrations for major lotteries such as Texas Two-step, SuperLotto Plus. Fantasy 5, Cash 5, PowerBall and much more.