Lottofy CEO Fernando Ortega caught up with SBC at the SBC Summit Latinoamérica to discuss the region’s current lottery market and what the company is doing to develop it.
Speaking about the opportunities the lottery has to find in order to seize new audiences, Ortega commented: “The main thing that lotteries can do is what they have always done and that is to offer real life change.
“That is why what we were saying, the prizes that are in the lottery cannot be seen in any other type of vertical. In other verticals you can get an important prize. Let’s say you can buy a car. If you win a relevant and important prize in the lottery, what you can do is change your life completely and that of your entire family.
“In addition, the advantage of lotteries is that there doesn’t tend to be a problem of compulsive gambling, so let’s say that it is easier to market without the fear of generating certain compulsive gambling.”
Ortega also commented on the obstacles that Lottofy goes through when trying to attract a new audience in Latin America, one of which is security. He said: “The main obstacles are what we have mentioned about security, because the user in general in Latin America is more distrustful.
“So you have to take it one step further. As for trust, explaining a little more that if they win a prize, they will receive it, that you are going to take care of managing everything and that everything will be fine.”
Another problem Ortega noted that does not happen much outside of Latin America is payments.
“For example, in Europe almost everyone works with a credit or debit card and with some APM’s,” he explained. “In Latin America practically everything is a local and sometimes micro-local APM, which makes it much more difficult and you have to have many more providers or a provider that covers more things.”