As co-host of the VIP section at ICE 2017, Lottocore have a “ground-breaking” presentation planned for the show’s visitors.
[dropcap]F[/dropcap]or ICE 2017, Lottocore will be co-hosting the VIP section, which the company predicts will be “a stunning visual representation of the lottery concept.” Drawing on his experience based on over a decade in the sector, Lottocore’s CTO, Andrew von Hosslin, explains why lotteries could be on the cusp of revolutionising the gaming industry.
Could you give us a brief overview of your company? Lottocore builds bespoke products for the gambling industry. We target our products towards existing gaming providers who want to integrate additional content such as the lottery into their operations. We manage the full lottery aspect for them, introducing the biggest vertical, and increasing their player retention. You can look at our product offering as an extension of content for established gaming platform providers – these companies use multiple content sources and technically, we are one of those sources. But in the lottery industry there are a lot more details regarding management, insurance and ticket purchasing that happen in the background to ensure that everything runs smoothly. What’s unique about our product offering is that we offer tailored pricing strategies for each of our accounts. We’ve got syndication and bundles that can be tailor-made depending on what region or vertical you want to target.
There are a number of aspect to running a lottery, how does the process of putting together a solution work? Lottocore is unique in that it doesn’t bind itself to one ticket purchasing or service provider. We are transparent with our B2B partners, we’ll offer a solution and find multiple options for the client and tailor the package to suit their needs. This ensures they understand the costing, who is doing the underwriting, the ticket printing and we will be, in essence, the technology connector bringing together all these elements. In terms of risk, this industry has definitely come a long way over the last couple of years, I think there is a lot more understanding of that risk and how to manage it in a clear and concise way. These factors are helping bring this huge vertical into the gaming industry and making it accessible without that risk.
You mentioned that lottery content could help player retention? From that point of view, the retention of lottery players is six times greater than that of the gambling industry. On average, for the gambling industry player retention is about six months, while for the lottery industry it’s about two to three years. So that’s what we talk about as leveraging the lottery lifespan into the gambling industry and creating a retention strategy for this. Instead of promoting it as an additional content provider, if you’re clever about it you can start leveraging this and keeping your customers longer. It’s changing the way the gambling industry does business. A lot of this is pioneering, it has not been considered before because they’re two vastly different industries but the closer we get them tied together, the better for the whole.
What is the average turnaround time for a Lottocore project? We’ve already developed all the backend – the Lottocore engine – all the authentication modules, everything structurally for a B2B platform so it does not take us long to bring together a solution for a client, on average about three weeks, from beginning of concept to the end of build. It’s a very quick procedure, in general under a month. Since we are working with bespoke products, sometimes we have projects that do not fit the technical lottery application, for example we’re moving into a lot of the fixed odds betting Asian markets. But even there we’re finding that from sign-off to implementation takes just three to four weeks.
Could you give us a hint about what you have planned for the VIP section at this year’s ICE? At the moment I can say that what we and our co-hosts are doing is a little bit ground-breaking and that aspect is going to be extremely exciting. Certainly, it’s never been done before and we’ll be right there beside it with our stand.
Lottocore will be exhibiting from Stand: N1-481 at this year’s ICE Totally Gaming.