Sportsbook operators can capitalise on the global popularity of lottery betting thanks to a lottery vertical provided by Altenar.
A weekly gamble on the national lottery is a popular betting activity in many countries around the world as casual bettors look to win large prizes for small stakes.
The routine of picking favourite numbers based on birthdays and anniversaries carries widespread appeal and Altenar’s lottery product takes this one step further by allowing bettors to choose from a range of fixed-odds markets based on the numbers drawn.
The most common lottery bet involves picking five numbers, for example, with payouts increasing in size depending on how many of the selections are drawn. Other available markets include whether the smallest or highest drawn numbers will be odd or even, which number will be the bonus ball, or over/under spreads on the sum of all the drawn numbers.
Operators have the flexibility to structure their payouts and odds can be offered on a variety of lotteries from different countries.
Providing a lottery vertical to sportsbook users allows them to place lottery bets without leaving the site and needing to buy an official lottery ticket, while payouts can be structured to be more generous than the official draw.
Lottery betting allows operators to diversify revenue streams and provides year-round engagement away from the more volatile sporting calendar. This vertical can also be used to attract a different demographic of bettors who prefer games of chance and may have previously been put off by the complexities of sports betting.
The unique advantages of lottery betting can encourage more regular interactions with the platform and provide cross-sell opportunities for operators who also offer other games of chance such as instant wins, online scratch cards and casino games.
Altenar Sales Director Diego Salas said:
Sportsbook operators are often looking for ways to attract new customers and diversify revenue streams with more stable income levels. Lottery betting offers these advantages and we are able to offer odds on lottery draws in various markets to ensure a sportsbook becomes a one-stop shop for all gambling activities.
