Innovation is critical to keeping lotteries profitable, and finding new ways to innovate is just as important. Finland’s Veikkaus tackled the challenge head-on by inviting collaboration through their new Innovation Challenge Week.
Like any company offering consumer products, lotteries can get caught up in a rut. “New” games may just be variations on old games that have no interest to today’s young adults. What’s a lottery to do to change the mindset of product creation and game development?
How about staging a hackathon?
These intense design sprints focus on exploratory programming and attract bright young minds to think differently, in an all-out effort to create functional products or services in a short period of time. Teams are often made up of a mix of artists, graphic designers, product or service designers, engineers, programmers and business people. The Atlantic Lottery started using hackathons in the fall of 2016, partnering with companies that focus on startup incubation to encourage innovation.
WLA members have been slow to embrace esports but it is the fastest growing category in sports betting.
Market research analyst Newzoo predicts global esports revenue from sponsorship, media rights and more to top USD 1 billion during 2019. More interesting still, betting on esports could reap USD 13 billion by 2020, according to gambling research firm Eilers & Krejcik. The opportunity is vast.
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