LOTTERY BETTING
If lottery betting is on your mind, this is the only comprehensive guide article you would ever need. Read on to know more.
Show the best lottery betting sitesWhat Is Lottery Betting?
Lottery betting is placing a bet on the result of a draw instead of buying an official ticket to it. Bets are placed on the lottery numbers that could be possibly drawn. Entry fees and prizes are usually matched to those of the original draw, with prizes being paid out using a third-party insurance company.
For instance, if you want to play the US Powerball from India, you can either buy an official lottery ticket through a concierge service (local lotto agents) or choose a lottery betting site (an independent company) to place a bet on the outcome. Either way, the odds of winning as well as the prizes remain the same.
If you want to bet on lotteries, do not stress yourself out looking for that perfect legit site. Check out our page about playing the lottery online where we guide you to the best lotto sites in India.
How Does It Work?
Placing a bet on lottery results is similar to participating in the official draw. You pick a specified set of numbers, which you think will be drawn. If your guess is correct, you win. Since the prizes are almost always matched, the process of lottery betting compared to playing the lottery “for real” would not make much difference to you as a player.
However, keep in mind that instead of purchasing a real lotto ticket online or offline, you would buy an ‘entry’ that enables you to bet on the outcome of the official draw. So, instead of a scanned copy of the ticket, you would receive an email confirming your purchase.
Also, prizes would be paid out by the lottery betting site instead of the original organizers of the lottery draw. Please note that although licensed by reputable organizations, such lottery betting sites are not connected in any way to the official lottery operator. They act as independent companies and are fully responsible for paying out winners.
Types of Lottery Bets
A lottery bet can be of the following types:
1. Draw Bet
This is the form of lottery bet you would be able to place on all the sites we recommend here at OnlineLottoBaba. A draw bet follows all the rules of the official draw. Players must choose all the required lottery numbers (main and bonus). The prizes are matched to those of the official draw in an exact manner.
2. Number Bet
A number bet slightly deviates from the rules of the official draw. Players can choose the numbers on which they can place a bet. It can be one or more of the main and bonus numbers, only the main numbers, or only the bonus numbers. The prizes are usually different from those of the official draw. Lottery betting sites enabling number bets are few and far between.
How Are the Prizes Paid Out?
Unlike lottery draw operators, lottery betting sites use an insurance-backed business model to pay out prizes to the winners. Such companies purchase policies from specialized insurers that cover the prizes and keep them safe from financial risks.
In the event of a player hitting the jackpot, the flexible coverage offered by the insurers enables the lotto betting sites to pay out players with confidence. The insurers first hand out the money to the concerned site operators in return for a premium. The site operators, in turn, forward the money to the winners.
In simple words, every lottery bet you place is insured. Smaller wins are paid directly by the site operators from the revenue generated via sales. Bigger wins such as jackpots are paid via the insurance companies. Winnings via lottery betting are usually commission-free because the fee is adjusted in the ‘ticket price’ charged by the site.
Also read: Top 10 Keys to Winning the Lottery
Lottery Betting vs. Lottery Ticket Messenger
We have highlighted the major differences between lottery betting and lottery ticket messenger in the table below. A lottery ticket messenger is a lottery site that provides you with real tickets.
| Lottery Betting | Lottery Ticket Messenger | |
|---|---|---|
| Draw | Players bet on the results of the official lottery draw | Players buy a ticket to enter the official draw |
| Rules | Rules are determined by the betting company and might or might not be based on the original lottery | Rules are determined by the organizers of the lottery |
| Timings, Prize Tiers and Odds | Timing, prize tiers, and winning odds are usually matched to those of the original draw | Timing, prize tiers, and winning odds are determined by the organizers |
| Tickets | No local lottery agents are involved because no paper tickets are purchased | Local lottery agents are involved in purchasing paper tickets on your behalf |
| Proof of Purchase | Email notifications about the purchase of entries are sent to players entering the draw online | Scanned copies of the paper tickets are sent to players entering the draw online |
| Payout | Prizes are paid out by the lottery betting company via a third-party insurance company | Prizes are paid out by the organizers of the original draw via the ticket messenger |
| Syndicate Betting | If syndicate betting is allowed, the groups bet on the result of the original draw | If syndicate betting is allowed, the groups enter the official draw |
| Name of Lotteries | Lotteries might or might not bear the same name as that of the original draw | Everything about the official draw remains unchanged |
| Jackpot | Jackpot winners are paid like everyone else – via insurance companies | Jackpot winners might need to travel abroad to claim the prize |
| Earnings | The lottery betting company earns all the revenue from the sale of tickets | The lottery messenger company earns part of the revenue from the sale of tickets |
| Example | Lottoland | TheLotter |
Why Is Lottery Betting Convenient for Indian Players?
Betting on the lottery result instead of buying an official ticket to the draw helps Indian players partake in popular international lotteries that go beyond the country’s jurisdiction.
No matter to which State a player belongs, this way of participating in lotteries is safe, legit, and free from any ban on local government lotteries.
While international lotteries can be played through a ticket messenger service as well, lottery betting sites tend to offer more affordable tickets. Bonuses, discounts, and free tickets aside, the price that you pay at a lottery betting site is much lower than the price you pay for a real ticket as the entire process is simpler.
In the event of winning a big jackpot, claiming the prize is also more convenient as you wouldn't have to travel to the country where the lottery is held to pick up your cheque. The lottery betting site would simply transfer the money to you.
Is Lottery Betting Legal in India?
There is no ban on lottery betting in India. Although lotteries are legal in 13 States and banned in the rest, the concept of betting on the outcome is limited to playing world lotteries from India. It makes lotto betting a legal and easy way of playing international lotteries online.
Also read: Is Online Lottery Legal in India?
Is It Safe to Bet on the Outcome?
Betting on the outcome of a lotto draw is safe as long as you choose a legit site. Due to their insurance-backed business model and the criteria set by their licensers, such sites are bound to pay up winners.
Which Sites Offer Lottery Betting?
The 3 best lottery betting sites for Indian players are listed below.
