CrownBet, the digital arm of Crown Resorts announced that it will be jumping on the secondary lotto bandwagon with a recently launched product, Crownlotto.
Sometimes, the lottery is the best move to keep an online casino business going. This is especially when new and disruptive forces such as gambling laws enter the fray. So, will the all-time favourites such as Tatts handle the competition from secondary lotteries such as CrownBet? Read on and learn more below.
This move that CrownBet is taking will result in a change in the dominance of Lottoland and how they give online casino players a chance to bet on the possible outcome of the lottery online and still stand a chance to win the huge jackpot. Lottoland has been referred to as the ‘Uber’ of the online lottery industry. This is because of how it poses a similar threat to the ‘click and ride’ lottery app that was implemented in Taxis.
However, because secondary lotteries do not have enough liquidity compared to the traditional lotteries, they use the insurance so that they can safeguard their business. This is an example of the insurance policies that governments take out against unlikely by horrible situations such as hurricanes and earthquakes.
The Way Forward
Crownlotto serves as a reaction to the Planet Lottery launched by William Hill. It’s important to note that all these online lottery sites will be competing against the semi-monopolised sovereign, Tatts.
Furthermore, CrownBet mentioned to the media that they would be donating a part of their profits to community claims. One of the reasons why they will be doing this is to challenge the claims that secondary lotteries cut into the traditional lotteries’ revenue that funnel funds into the real causes.
Lotto has been making huge waves in the online gambling industry globally, especially in New Zealand. So register at any of the top NZ lottery sites and stand a chance to change your life today!