The emergence of new online lottery products and the popularity of betting on lotteries has re-invigorated the vertical in recent times, providing sportsbooks and casinos with the opportunity to diversify their products portfolios.
In many cases around the world it is also challenging the monopolies of state-run operations, with many claiming that it is having a negative effect on revenues and money going to good causes.
Yet, Mifsud, who is CEO of alternative provider Helio Gaming, believes these traditional operators – and regulators – have the opportunity to embrace the innovations companies like his are bringing to the market.
He said: “There has been a lot of negative talk about the new lotteries and in particular betting on lotteries, and I can see why those who have enjoyed a dominant position until now feel threatened by their rise.
“But I think they could embrace the technology and innovation behind them in order to revitalise their revenues and reclaim lost market share.
“Many of the traditional lotteries are yet to embrace the potential of online - and mobile in particular - yet and are still reliant on their land-based revenues
“But they can take the alternative lotteries on at their own game by being more flexible with their product portfolio and introducing new games and forms of delivery. Emerging markets specifically have a great opportunity.
Helio Gaming offers a number of tailored jackpot games to its clients, including its flagship Lotto Hero game which offers a guaranteed Euros 1,000,000 prize on the hour every hour.
Requiring no skill or pre-existing knowledge, the games widen the operator’s portfolio, boost acquisition, retention and enhance the ability to cross-sell to players by offering high-frequency, life-changing prizes.
Hosted on a multi-tenant platform, which enables it to be provided to players around the world through operator websites, Lotto Hero guarantees operators risk-free distribution with an attractive commission structure that offers higher returns than products such as slots.
The product is one of a number of customisable new games devised by the Malta-based provider, including daily, weekly, and event-based draws, which can be branded by individual operators to appeal to a large number of customer demographics.
The Alternative Lottery Forum takes place at Amsterdam’s Novotel on Tuesday 17th July. The Disruptive Lottery session takes place between 11:30am and 12:00pm.
