Lottery Business Models. What’s It Going to Be, Insured Lottery Tickets or Uninsured Lottery Tickets? Dig In!

Insured lottery tickets

The Love for Lottery – For the Love for Lottery

Nothing can ever begin without mentioning the love for the lottery, for love for the lottery. It has been a while since I purchased my last lottery ticket – precisely 18 hours ago, and I’m starting to think it has been forever. This happens for a lot of many reasons: 1. I can’t get enough or 2. I need to friggin’ win the jackpot! How many lottery tickets am I supposed to buy to win one day finally? I know I can’t give up and it’s not like I have too much money to spend, I make enough to purchase tickets for the love for the jackpot, but have I won anything yet? No. No, sir. Not yet. So you see where the frustration is coming from the right?

I buy tickets, more tickets, but I still end up with no jackpot. And I know I’m not alone. The Lady Luck is very smart – she has her own ways, and apart from the fact that she’s completely forgotten about me, she has her own secrets. Lucky charms, I’ve got about nine now because I believe nine will bring luck to me. These are all superstitions and mind you; I didn’t go out to buy them – they were gifted to me by ex-lottery winners. I chose to keep nine because hey, lucky numbers might matter one day! Did they matter up until now? No, sir. Enough ranting, I assume, let’s get down to business, shall we?

Lottery Business Models – Insured VS Uninsured Lottery Tickets

So what exactly is this all about, you wonder? Well, let’s get the simple one out of the agenda – the uninsured lottery ticket. Uninsured lottery tickets are those that you virtually buy through an agent like, for instance. Are we clear here? Let’s get to the more complex type of model – the insured lottery tickets. Now we all know that there are many, many sites where you can play the lottery online. The only difference is the payout system, which varies from one site to another. As a general rule of thumb players who manage to match all the winning numbers are paid first, followed by others who match some.

The person who matches all the numbers wins the jackpot, and if there’s a twist, he might be sharing it with a few others! Now once you hit the jackpot, you can’t just walk out with the full amount in one stroke. Lottery officials pay in parts for a period of up to 30 years or less. Assuming that you’re immortal, which I know you aren’t, you’d have to be either happy with your partial amount or wait as long as it takes to receive it. Now this payout system gave birth to the insured lottery ticket – a miraculous ability to claim the full amount at the wink of an eye. Now don’t get too excited here!

The Benefits of Insured Lottery Tickets

A friend of mine was talking about insuring his lottery ticket, and before I knew what it was all about, I thought he had literally lost his mind. Let me explain how this works. If you insure your lottery ticket, you receive the insured payout even if the winning numbers, matching those that you picked during the first draw, are drawn second time in the game. Suppose you haven’t purchased a lottery ticket for the second draw, you still get to bring home a portion of the actual reward amount. The biggest advantage of insured lottery tickets is that the player gets down payment of the entire prize money as soon as results are announced.

Is Insured Lottery Ticket a Smart Investment?

Before I answer this question, let me ask you one question. Are you playing the lottery for recreational purpose or for making some serious income? If it is for recreational purpose, insuring your lottery ticket makes no sense at all. Second of all, the numbers that you picked, have you done a background check? Do you believe that you picked the right winning numbers? If you are a cautious type, i.e. you like to plan your every move, then insured lottery tickets are definitely something you should consider. The last step is to consider the percentage of the jackpot amount you’re willing to invest to insure your lottery ticket. Once you have this checked out, you will be in a better position to determine whether insured lottery tickets are a smart investment.

My 2 Cents – Take It!

Take a look at the bigger picture here. I’m not sure about you, but I’ve always just bought tickets online i.e., uninsured tickets and no matter what numbers I pick, I’ve never managed to hit the jackpot. If you’re telling me that insured lottery tickets will gain me the supernatural powers of winning the jackpot, I kid you not; I wouldn’t believe it, and I don’t want it! That’s just me. About you, it depends on your individual likes and plans. If you truly believe that the lottery ticket you have today is the key to millions tomorrow, go ahead and insure it. Remember, it’s an investment, and like any investment, you can never guarantee 100% success. In the end, it all depends on the mysterious Lady Luck… doesn’t it?

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