NICOSIA, Cyprus, Nov. 16, 2017 /CNW/ - The two largest lottery jackpots ever recorded have both occurred within the last two years - the highest ever being the $1.5-billion US Powerball jackpot won in January 2016 and, more recently, a $758.7 million US Powerball jackpot won in August 2017. The combination of media coverage and the continued growth of the online lottery industry have resulted in a widespread consumer expectation for large lottery jackpots.
Online lottery operators offer customers from around the globe the ability to purchase tickets to a wide range of international lotteries. Practically speaking, this has resulted in a customer being able to participate in popular international lotteries not usually sold in their home countries. Lotteries like MegaMillions and Powerball (US), La Primitiva (Spain), SuperEnalotto (Italy), Mega-Sena (Brazil), France Loto (France), Lotto 6aus49 (Germany), Euro Millions (Europe), Oz Lotto (Australia) and many more are gaining global appeal.
Bigger is better
Previously, online secondary lottery providers had to simply play a waiting game in order to satisfy their customers' insatiable appetite for 'mega' jackpots, but the transition of many operators from a ticket buying service to an insurance model - in effect, a bet on the outcome of an existing lottery such as the US Powerball - has resulted in a truly unique online business opportunity that defies the lulls in traditional lottery prize pools.
Using established and credible third-party underwriters, these lottery game providers are now able to offer jackpots well in excess of their offline counterparts. They can extend rollovers or simply increase their first tier prize offering to create massive exclusive jackpots. The positive benefits for the customer are obvious, giving them more opportunities to win hundreds of millions more on a single draw.
A good example of this becomes apparent when comparing the official US Powerball estimated jackpot of $119-million with the US Powerball jackpot being offered by Lotto247. At the time of writing, their Powerball jackpot (drawing on November 18th) stands at $348-million - a boost of almost 200% over the official prize.
In the not too distant future, it is expected that secondary online lotteries will become more and more popular, particularly as the jackpots continue edging their way to stratospheric heights. The question in many industry followers' minds is how far will these lottery providers go to satisfy their customers' growing demand for larger, more regular jackpot draws? Only time will tell, it seems.