Here at CryptoMillionsLotto, we believe that there is a significant market opportunity for cryptocurrency-based lotteries. With the growing interest in cryptocurrency adoption across the world and the concept of lotteries (which are thousands of years old), it seems like a no brainer to combine the two into a thriving business.
As mentioned in previous posts, we're already deep into the lottery game as our parent company already runs AfroMillionsLotto - a major lottery provider for Nigerian football clubs.
So why cryptocurrency?
Simple: using crypto for our lottery system will enable us to reach underserved markets where jackpots are small and/or lotto play has been minimally adopted. Add the cross-border payments enabled by crypto and you suddenly you have a rapidly growing global lotto platform. Bigger platforms mean bigger jackpots. And bigger jackpots mean more attention, which in turn leads to greater adoption and buzz around the platform itself.
A report by Research and Markets (2) forecasts that the global lotto market will grow at a compound annual growth rate (“CAGR”) of 8.85% over the period 2014-2019, whilst another report by Technavio (3) predicts the CAGR for lottery at 9.44% from 2017 to 2021. (Source)
While there are some naysayers who claim that cryptocurrency is simply a fad that will die out in a few years, the trend in adoption continues to rise despite the market correction of the first half of 2018. As the two graphs of crypto and lotto jackpot growth move up and to the right, it only makes sense to create a business that takes advantage of these two growing trends.
Some ICOs have pie-in-the-sky dreams where they make all kinds of mistakes trying to create markets where there aren't any and solve problems that aren't there. Not us. We're going for the sure thing by focusing on our strengths.
And on that note, our revenue model couldn't be simpler: our income will be derived from ticket sales. Users will purchase tickets, a portion of which will go towards operating costs, company expenses and the dividend for our security token, while the rest will go to the jackpot. These are not revolutionary concepts, but as with any business, it is the execution that matters most. And with our experience in the industry, we're confident that we can execute this plan much like we've done with the 30 successful lotteries that we already run via AfroMillionsLotto.
To learn more about our upcoming ICO/STO, head over to http://cryptomillionslotto.io
Have questions? Feel free to leave a comment below!