European Lotto Betting Association Says Lottery Sector Needs to Embrace Innovation
LONDON, U.K. (February 4, 2020) – Ed Mouton, Chair of the European Lotto Betting Association (eLBA), told the Modernising Lotteries Conference in London that the sector, like events betting, needs to embrace innovation to remain competitive.
Speaking as part of a panel on the future of the lottery, Mr. Mouton laid out his vision for a competitive and modern lottery market. “The lottery sector faces a number of challenges and needs to revise its business model if it is to appeal to a younger and increasingly demanding digital audience,” he said.
“Boosting competition is the only way to ensure innovation and allow for a constant improvement in customer experience, this is what we have seen in the events betting sector. Failing to do that, lotteries will struggle to remain competitive and reverse their image of an ultimately aging product category.”
The conference was part of the ICE VOX Conference Series, one of the biggest industry events of the year, and examined the challenges and opportunities facing the lottery sector. Panels debated topics related to consumer demand and protection and regulatory issues as well as the possibilities for harmonious existence between private and national lotteries. Speakers also debated the future of lotteries and the trends transforming the sector.
Mr. Mouton also reiterated eLBA’s commitment to aligning with best practices when it comes to ensuring a safe gambling experience for customers. He was vocal about eLBA members’ readiness to comply with all necessary player protection measures applied to the events betting sector and stressed that the same protection standards should indeed also apply to lotteries.
Lotto betting, which is an innovative product within the events betting sector, has become increasingly popular amongst customers in Europe. Rising demand, as well as growing recognition of lotto betting products, has led to the development of thriving, competitive markets in countries such as the United Kingdom, Ireland and Sweden.
eLBA gives a collective voice to five of the biggest companies in the fast-growing lottery betting sector. The Association strives to achieve a sustainable and coherent regulatory environment in Europe that provides a level-playing field for operators and ensures adequate consumer protection.
For more information, please visit: www.lottobetting.org,
SOURCE: European Lotto Betting Association.Tags: European Lotto Betting Association