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Online lotteries fall into a different league of gambling when compared with casino games, poker, or bingo. Primarily because online lotteries are government organizations instead of private individuals or businesses. It is important to have a basic idea of how the lottery industry works. For this reason, an online lottery guide for beginners always comes in handy. However worry not, we are here to provide you with an ultimate guide to online lotteries.
Many governments have passed new laws and regulations that have provided greater security to their lotteries and have outlawed private institutions in this market. This all came due to the appealing monopoly on the lottery markets; along with the possibility of generating huge and taxable cash inflows. Lottery players do not have to fear any legal ramifications as long as they follow some rules. One of these rules is to confine themselves to official lottery websites with a valid license. This is due to the fact that most private lottery sites are scam attempts.
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How Online Lotteries Work
First things first on our ultimate guide to online lotteries is how do online lotteries work. Online lottery sites allow you to purchase tickets for popular live lottery games such as PowerBall or lotto. Since online lottery sites aren’t a separate entity, this means that there won’t be a separate, online-only player pool. Consequently, you will be able there will be an opportunity for you to win huge prizes and jackpots that make lotteries so exciting.
Most countries and state regions have their own online lottery regulations which push different sets of rules, banking methods, prices, and game selections through different sites. If you want to avoid these regulations then you need to consult with the third party websites that allow you to purchase live lottery tickets from anywhere in the world through one of their local offices residing in your country.
The third-party institution acts as a proxy between you and the government that governs the lottery. Such an approach might be a risky one. Hence you should approach reputable third-party companies or confine your purchases to the aforementioned licensed government sites.
Fairness and Security
Official government-licensed lottery sites are regarded as considerably safe to use by the ordinary citizen. However, they do have a drawback which requires the player to be physically present in the country that is hosting the lottery. Failing to meet this requirement would render your lottery ticket useless. Third-party institutions doge this inefficiency by buying the lottery tickets on your behalf and settling the winnings with you if you manage to secure any.
As you would suspect that if you use these third party websites then you are opting out of the legal protection offered by the hosting government. Stick to the proxy lottery services that have been in the business for a considerable amount of time.
Tickets and prizes
Online lottery sites can be compared to brick and mortar distribution grids. This analogy means that the price of the ticket solely depends on the types of lottery games you want to play. There are several lottery ticket types which one needs to keep in mind before indulging. Generally, the price of a lottery ticket would amount to less than 15$ with some as low as 50 cents. However, you have to bear in mind that the third party institutions will charge you a slightly higher ticket price since they have to cover their operational costs and generate revenue.
Similarly, the prize payouts follow the same rules, where government-licensed websites will not charge you any additional fees. While the third-party services would claim up to 10% of your winning payouts.
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Payment Methods
Most online lottery websites don’t offer a range of payment methods to pick from. You might have to fund each of your tickets with your bank account or might have to transfer a big amount of money to your on-site wallet. The second method is quite similar to funding your account on poker or any of the casino sites with the difference being that you won’t be able to redeem any bonuses. The third-party services require you to make a traditional deposit and might welcome you with one of their promotions. Additionally, they also provide you with numerous payment options that compromise reputable e-wallet services like Neteller, MasterCard/Visa credit and debit cards, prepaid cards, GiroPay, WebMoney, etc. However, The availability of these payment options varies from place to place, consequently, e-wallet payments will not be available to the American citizens.
Payout Receiving Options
The payment methods you initially choose and the amount of money you win are the two factors that account for the way that official lottery sites handle your payouts. Usually wins up to $500 will transfer to your bank account directly or to the on-site account. Wins in the range of $501 to $5000 will require payment through a check or a bank transfer. Wins over $5000 are generally handled exclusively by check. Payouts that are over $50,000 require you to get in contact with the organizer.
By now you would have an idea that the third-party services operate differently compared to the official lottery sites. Their local staff collect the winnings on your behalf and then transfers them to your on-site account. To get hold of your prize money, you will have to wait and file a withdrawal request. However, bear in mind that most of these third-party services don’t have the liquidity to easily process payouts exceeding $5000. Consequently, if you bank big prize money then the customer services will contact you. This in-person contact for the purpose of arranging a more personalized payout. The banking withdrawal options available are similar to the ones used for making a deposit. As for the American players, they will have to choose from the limited number of options available. For instance, a wire transfer can take up to 10 business days.
Universal Principles of Online Lottery Games
An ultimate guide to online lotteries won’t be complete without presenting you with its core principles. When considering playing online lottery games, one should adhere to three universal rules that apply to every lottery game. Regardless of the prize, the following rules can always be relied upon.
Lottery numbers are completely random
Contrary to what some might believe, online lottery numbers are randomly generated numbers. Each draws consists of a completely new set of numbers. It is impossible to predict the exact numbers that will be generated in the draw, even if you believe in fairies.
One should accept that there is no unique strategy or system that will help you predict the numbers. You should keep a straight head and consider the online lottery as a game of pure luck.
Every lottery game you play may bring you prizes – including the jackpot.
This principle works along the same lines as the first one portrayed above. In every online lottery, whether it be the Euro Millions, Powerball, or the Mega Millions, the set of numbers that you draw and whether you play the games once a week or spend a couple of grand a week playing, will have the same chance of being drawn.
A theoretically unlikely set of numbers like 1,2,3,4 has the same probability of being drawn as any other combination of numbers. There is no such thing as impossible when it comes to the lottery world. Everything is totally random and hence pertains to equal possibility.
It is ill-advised to believe that there would be a strategy that would help you eliminate the ‘unlikely’ set of numbers; consequently increasing your chances statistically. This would be in a vain effort since it’s all random.
Playing more lottery games increases your chances to win a prize
We can all agree that playing more than one lottery game will boost your chances to grab a win. It’s all due to statistics, as the probability of you winning a prize gets replicated when you play another lottery game whilst choosing a different set of numbers.
With this online lottery guide for beginners in your pocket, you can now venture into the world of lotto. We are sure the industry does not seem as intimidating as it did in the beginning. With the tips and trips learned from the ultimate guide to online lotteries, you can get a headstart with this form of gambling.
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