Sign up for news

Lotteries Need to Raise the Level of Compliance and Be Transparent

9 May 2020, 10:33
Votes: 2

The lottery market news show how the business is trying to survive in new conditions. Operators have faced the necessity of innovations that can substantially change an old pattern.

Lotteries Need to Raise the Level of Compliance and Be Transparent

Speakers of the SBC Digital Summit have told its attendees about their cases and how they see the process of adaptation. Sami Kauhanen, a vice president of betting at Veikkaus, said the following:

“We try to improve our competitiveness and it is the most important thing our company can do now. Basically, we have a lot of customers but we see a slight decrease in the retail of lottery products and it motivates us to develop. The online sector is a big competition. So, we try to improve our position in this market – transform our betting platforms, online casino libraries, introduce new features to libraries, work on customer experience, and a user interface.”

Arno de Jong, a CMO at Nederlandse Loterij, has also provided information on how his company is surviving during the lockdown: “Online lottery has been really growing for the last 2 months. We still run the business successfully and do pretty well. We have been offering online orders of scratch tickets for already three weeks. We deliver them directly to customers’ homes and it is very convenient for them. In addition to this, our company decided to continue marketing campaigns to prepare for the future.”

Lotteries

Speakers have said that there are a lot of opportunities for the gambling industry on the whole, and the lottery segment, in particular, to improve and increase revenues. Of course, only if lottery businesses finally decide to go digital because the reality is changing. At the same time, regulators will tighten the responsible gaming principles to increase consumer confidence in digital transactions and all experts embrace the idea that the industry needs to increase it.

Speakers have also emphasized that support from the government is very important. A tax deduction, special business programs, and loans can help lottery operators to continue developing in the post-COVID-19 world. However, speaking about sports betting, experts have noted that companies may change their approach to social responsibility.

“It is acceptable to run a business now and ask for fundraising because sports have been damaged. The governments of many countries demand finances from it to fight against the pandemic. Betting companies should raise money to help sports. We can change the marketing communication strategy to make it acceptable and continue working. For example, our company underlines its social impact on the country and role in sports and charities,” said Arno de Jong.

Speakers are sure that the future of the lottery market is uncertain now but they should continue working. After the quarantine, lottery shops will need to adapt to new conditions: retail operations will need to have special devices, sanitizers, masks, and people will be required to keep to social distancing. Nonetheless, the industry will be invested and operators should optimize their business to succeed.

Read more: How to claim lottery winnings anonymously in Texas?

Read more: A story about Eddie Tipton

Comments:

No comments

Now read
5 Jun
Up