Lotto betting has been popular in Europe for decades as a way for smaller organisations to crowdfund , and is now taking off in the UK as a fundraising technique. As lotto betting is considered gambling, only those aged 18 or over can enter to win, while the lottery is open to everyone aged 16 or over. The prize money is not paid out by the official lottery Winners of the National Lottery will usually have their prize paid for by the official lottery operator. However, as lotto betting is played through an independent company, prize winnings are paid a little differently.
Lotto betting websites operate an insurance model which means that each bet someone makes is insured. Smaller prizes are paid for directly using the revenue received from sales. This business model enables lotto betting sites to offer huge prize sums, often matching the major jackpots offered by official lottery operators around the world. Why not just buy a National Lottery ticket? Many lotto betting models offer unique games and features, such as special offers and double jackpots that are not available on the National Lottery.
Players can also take advantage of playing the numbers on the lottery , and then betting on those numbers, giving an even bigger total winnings if the numbers won. Much like the National Lottery, players can easily take part in lotto betting online through various betting websites and companies. Because of this, entrants are not restricted to betting on the domestic National Lottery and can choose to bet on other lotteries from around the world.
This opens up your options, and, as a betting man knows, more options means more chances of winning. Players in the UK can enter the German Lotto or EuroJackpot for example, meaning any winnings would come in the form of euros — a currency now almost equally valuable as the pound.
Finance What is the difference between the lottery and lotto betting? Share Tweet. Dean Shaw. Finance Gifts for the Modern Confirmation Kid.
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