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Lottery betting (also known as lotto betting) is a form of online gambling, run by licensed betting firms, where players place bets on the outcome of lottery draws instead of buying physical or online tickets via official lottery operators.
[1] For example, a resident of the United Kingdom could place a bet on the outcome of an American lottery drawing, such as Mega Millions or Powerball, even though they would not be eligible to buy official tickets.
Companies using this model are not required to purchase tickets from official lottery operators.
Types of bets [ edit ]
The cost of betting on a lottery can differ from the cost of purchasing an official lottery ticket.
Lottery betting is legal in parts of the world where online gambling is permitted, including most European nations, although it is heavily regulated.
[4] Following a year of consultation, the British Government banned third-party betting on the EuroMillions lottery in April 2018.
This was, in part, due to its violation of the Gambling Act 2005, and "closed the loophole" used by betting companies to allow gamblers to bet on international lotteries in the UK.
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