Lotto B2B Services: Another Fraud in Disguise?
In business, there are two types of industries, business to business (B2B) and business to consumer (B2C). If you don’t know what these two business models mean, you aren’t alone. I didn’t have a clue either. That is, until Nick did a story about Lotto365 and he mentioned a company I’ve never heard before—Lottotech. I know, it sounds like a hybrid of a lottery agency and a technology company. Well, it sort of is. Lottotech is a company that sells “innovative” lottery software to companies so the company can increase their revenue. This makes Lottotech a lotto B2B company.
Now, you’re probably wondering what the big deal is. After all, there is a demand and Lottotech is giving companies an opportunity to fill that demand. Well, let’s explore what these two business models really entail.
Businesses Briefly Explained
The concept of B2B isn’t difficult to understand. Simply put, it is the relationship a business has with another business. This means Business A provides a service or sells a product to Business B, to which Business B will sell to us, the consumer. Think of it this way; wholesaler sells to retailer sells to consumer. The relationship between the wholesaler and the retailer is B2B and then the relationship between retailer and consumer is B2C. I guess that would make the retailer B2B and B2C.
One of the most noticeable ways B2Bs and B2Cs differ is what they pay for the products they sell. As a consumer, you are purchasing a product or a service for your own consumption. As a business owner, you are purchasing products and services to sell to consumers. So, of course you are going to jack up the price on these goods so you not only make back your money, but so you gain a profit.
B2B Lottery Services: What Is the Problem?
If you’ve been reading our site for a while, you’ve probably seen a surge of reviews on new lottery agencies popping up. Why, we barely scrape the tip of the iceberg! There are new lottery sites popping up daily and it can be overwhelming for individuals who are just testing the waters when it comes to online lotteries. It’s unfortunate because many of these people aren’t familiar with how online agencies work and what agencies are to be trusted. Companies like Lottotech make it easy for businesses to become an online lottery retailer and prey on the unaware players and essentially rip them off.
Of course, there are lotto B2Bs that offer a lottery platform usually offer all the other essentials one needs to become a lottery retailer. These services include payment methods, a license, lotto feeds, tickets insurance, tools, and management systems. In essence, these B2B lottery sites are a one stop shop. Now you see where this could become a problem? If a company can sell just anyone everything they need to create their own lottery service site, who knows what kind of shady (and greedy) characters are purchasing and ultimately running these sites!
Keep Reading Lotto Exposed and Play Safe
It’s no secret that there are dishonest people out there who are trying to make a quick buck—regardless who they have to step on to get there. If you are thinking about playing an online lottery, you want to do your research. Sure, there are good and safe lottery sites out there, but they are easily outnumbered by the amateur sites they keep cropping up. All in all, you should avoid lottery sites that feel sketchy and stick to the sites that have positive reviews.