Challenges
on the Global
Lotto Industry

Issues and challenges in industry have not only hurt the industry, but have also hindered its growth. We look at the more pressing reasons why today’s traditional lotteries need to evolve.

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  Lack Fairness Transparency

  A recent study went into how exactly a lottery can be rigged, tampered and cheated – arising questions such us the validity and “realness” of the winning ticket; fair allocation of ticket proceeds to the prize pool; is the winning number drawn in a random and secure manner; and does someone really win it and not just go to a handful operators. A lottery based on smart contracts should address each and one of these concerns.

• 

  Lack of Innovation

  Traditional Lotteries have not shown any innovation and don’t have much room for variety in game development. Mitoshi cryptolotto will offer fresh and winnable draws without compromising on fairness and on its entertainment value.

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  Regulatory Setbacks

  Traditional lotteries today are hindered with regulations – from territorial limits that prevent audiences from other countries in participating into the big jackpot draws to taxes and extra charges. Centralized or monopolized operators bring about regulations, to include even state controlled ones. These regulations hurt the prize money that should be going to the players.

• 

  Long Payouts

  Spanning anywhere from weeks to months after the results, traditional lotteries have been notorious to distributing prize winnings extremely late with a lot of verification checks in the identity and the ticket. This is a major inconvenience to the players, and a practice that shouldn’t be tolerated.

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  Stunted Growth

  Expanding markets is a formidable challenge in the industry because of the difficulty in attracting new players or retaining existing ones, which not only makes it likely to be reliant on addiction. This makes it somewhat reprehensible, but this also makes it more difficult to pursue and implement new sales channels.