What does betting lotto mean?

There are two ways to offer an online lotto ticket service

When you are looking for a way to play lotto online, you will find that there are two kinds of services. Most of the time, the site offering their online ticket service will not tell you which model their service is based upon. But it is a good idea to check and then decide which type of service you want.

The “ticket-buying” model

real lottery ticket

This is the model that RedFoxLotto uses. It means that for all the lotteries, we buy real tickets. We work with agencies in various countries where the lotteries are located. After you order your ticket, we pass the info on to that agency, and they buy the ticket with your numbers on it. Depending on the country, the agency will scan the ticket and upload it so that you can see it in your account.

In some countries, the agents or agencies we work with do not offer the scanning service though. Also, please bear in mind that it may take a few hours before the scanned ticket shows in your account. The scanning process for hundreds or thousands of tickets takes a little time.

The “lotto betting” model

lotto betting

Most online lotto services do not buy real tickets. So how can they make sure they do not go bankrupt if a client wins a large amount of money? It is quite simple – they have an insurance policy in place that will pay the winnings.

In such a case, you will often find a disclaimer somewhere on their website telling you that you are actually “betting on the lottery results“. But some websites simply do not mention that fact at all, although they are using the “lotto betting” model.

The “mixed” model

In some cases, the site uses a mixed model. That means that the smallest prices and the largest jackpots are left uninsured. In this scenario, the site pays the smaller prices directly out of their revenues. At the same time, whenever any of the jackpots reach an amount higher than, let’s say, €100 million, they do buy real tickets for those lotteries. The reason for that is the fact that their insurance does not cover amounts of over €100 million. Having unlimited insurance would simply be too expensive.

For you as a customer, the most important thing is that get paid if you win. So you have to decide whether you prefer to be betting on the lottery, or whether you get a real ticket with a scan uploaded to your account.

We at RedFoxLotto have decided to go for the business model of buying actual tickets, instead of having our customers bet on the lottery. We consider this to be the safest method, and we also want your lottery experience to be as close as possible to the traditional way of participating in a lottery.