Lottery Glossary of Terms
- GammaStack
- Lottery
Table of Contents
The lottery industry has become one of the most lucrative and profitable industries in recent times. And the Covid-19 Pandemic has accelerated the growth and opened up new opportunities for players as well as investors. But even after the massive popularity, people stay unaware of certain lottery terms. Lottery slang can leave anyone confused. So whether you are a noob, a professional, or an investor wanting to know more about the online lottery terminology, we are here to help you out. In order to help you understand the lottery better, we have created the most comprehensive glossary of lottery terms to help you brush up on your lottery vocabulary.
But before we jump right into it, let’s understand what exactly lottery is.
But before we jump right into it, let’s understand what exactly lottery is.
What is an Online lottery?
Some people place bets on sports, some form their virtual sports teams, while some simply buy tickets. No fuss, no hassle, and no technicalities. Lottery is one of the oldest yet simplest forms of gambling which involves drawing numbers. When the drawn number matches the number on the ticket buyer’s ticket, the buyer wins a jackpot! There are several games that differ in concept as well as the payout amount. Some offer a little while some offer cash for a lifetime. No wonder, this form of gambling is popular among all age groups.
Lottery games can be played offline as well as online. People buy tickets from vendors or they simply register on online lottery platforms to try their luck. There are several online lottery platforms that allow customers to play their favorite games. In recent times, during the pandemic, the online lottery industry rose to new heights. Since land-based outlets witnessed a complete shutdown, online lottery platforms came to the rescue. Today, the online lottery has become one of the safest as well as most cost-effective ways of having fun from the comfort of home.
Lottery games can be played offline as well as online. People buy tickets from vendors or they simply register on online lottery platforms to try their luck. There are several online lottery platforms that allow customers to play their favorite games. In recent times, during the pandemic, the online lottery industry rose to new heights. Since land-based outlets witnessed a complete shutdown, online lottery platforms came to the rescue. Today, the online lottery has become one of the safest as well as most cost-effective ways of having fun from the comfort of home.
Lottery Glossary of Terms
- Advertised Jackpot: One of the most used terms in Lottery. The minimum jackpot amount that will be paid to the winner of the draw by the lottery is called the advertised jackpot.
- Annuity: Lotteries enable winners to collect their winnings in the form of installments. This is known as an annuity.
- Any Order: When players choose to match-winning digits in any order.
- Ball Draw Machine: A device that randomly draws balls that contain the winning numbers of the game.
- Bonus Ball: Another common lottery term. When the ball gets drawn from the second machine of the lotto game, it’s known as the bonus ball.
- Beneficiary: The heir who receives the lottery jackpot after the passing of the winner.
- Bonus Money: Also known as promotional money, this money can be used for participating in lottery events but not for withdrawing.
- Bonus Number: When a number is drawn in bonus to regularly drawn numbers, it’s known as the bonus number.
- Boxing: Some three-four digit lottery games render the opportunity to players to play more digits than the usual.
- Box Bet: Box bet is one of the common lottery phrases that’s used widely. It is a type of bet that gives an opportunity to players to place bets and win by matching digits in any possible order instead of the exact order.
- Bundle: The bundle includes personal entry as well as shares in the syndicate.
- Cash for Life: Cash for life is a lottery game that involves prize payments that are made yearly, monthly as well as weekly in installments.
- Cash Option: The cash option enables players to take the jackpot in a single one-time payment instead of an annuity.
- Claim Center: A place where all the lottery players can get their tickets checked and collect the prize.
- Claim Process: The paperwork or procedure that's carried out when a player wins the jackpot.
- Cold Numbers: Numbers that get selected rarely are known as cold numbers.
- Combination Bet: When a player selects straight bet and boxed bet, it's known as combination bet.
- Daily Game: Lottery games in which a draw takes place every single day are called daily games.
- Digit Games: The number games are also known as digit games.
- Double: Three to four digit numbers containing the same number pair are known as double.
- Double-Double: When a four digit number comes with two doubles or with two pairs of the same numbers.
- Draw: One of the most common words associated with Lottery. Lottery results are known as draws.
- Entry: A lottery ticket is also known as an entry.
- Estimated Jackpot: The jackpot that could be less or even more than the jackpot that has been advertised. The value could fluctuate depending on the sales of tickets.
- Exact Order: As the name suggests, exact order is a betting option in which the player is required to match his numbers with the winning numbers in exact order.
- Exotic Game: The lottery games that use non-standard winning conditions.
- Exotic Numbers: A combination of unusual, strange or uncommon numbers is known as exotic numbers.
- Fixed Jackpot: The jackpots that cannot be changed or altered in size are known as fixed jackpots.
- Fixed payouts: Another common term in the lottery glossary The prize amounts that do not change irrespective of the number of tickets sold.
- Guess Range: Players are provided a series of numbers from which players can select the lottery numbers. This is known as guess range.
- Group Play: A syndicate or a pool is also known as a group play.
- Hot Numbers: Numbers that are frequently drawn over a particular period of time.
- Instant Games: Games where players get to know their results instantly.
- Jackpot: The final prize in lottery games is also known as a jackpot.
- Jackpot Cap: The maximum amount of the total jackpot is known as the jackpot cap.
- Lottery: Game, where winning numbers are drawn on a random basis for various prizes of diverse amounts, is known as a lottery.
- Lottery Draw: The process through which the winning numbers are drawn is known as a lottery draw.
- Lottery Messenger Services: The third-party service that operates independently that buys lottery tickets on the behalf of the player.
- Lottery Operators: The organization that administers or operates lottery games. These organizations are either governmental or corporations that are licensed by the government.
- Lump Sum: The large amount of money that's paid to the winner in one single payment is known as lump sum.
- Lotto: Lotto is a type of lottery game.
- Match: When the drawn number matches the number on the player's ticket, it is known as a match.
- Multiplier: Multiplier is an extra feature in which an extra number gets drawn to increase the payout and the number is added to the ticket of the player.
- Multi-Draw: Lotteries consisting of a number of draws is known as multi-draw.
- Multi-draw Packages: The packages that contain a set of lottery tickets that can be pre-ordered.
- Multi-jurisdictional: Lottery games that are played in more than one jurisdiction are known as multi-jurisdictional.
- No Match Numbers: A number consisting of 3- digits, without any doubles, triples, or doubles-doubles.
- Outstanding Numbers: Another common term in the lottery terminology. The numbers have not been drawn for a long time. These are also known as overdue numbers.
- Pari-Mutuel: When the prize is divided among the players that hold tickets with the same numbers.
- Progressive Jackpot: As the name suggests, the jackpot, the value of which increases when no player comes forth with the winning ticket.
- Payout: The total cash prize received by the player is known as payout. This can include non-monetary as well as monetary awards.
- Prize Pool: The prize that's shared by the lottery winners is known as the prize pool.
- Quick Pick: A feature in which a computer terminal randomly generates a player’s lottery ticket numbers.
- Random Number Generator: A computer software or program that draws number sequences for lottery draws.
- Reintegro: Spanish lotteries consist of refund numbers that are also known as reintegro.
- Responsible Gamblings: Lottery operators are required to educate their customers about the amount of money and time they should be spending on the online lottery platform. This is known as responsible gambling.
- Rollover: Common term in the list of lottery terminology. When the jackpot is rolled over when numbers on the tickets do not match the drawn numbers.
- Scratched Card: The numbers are concealed with a layer that must be scratched off to reveal them.
- Secondary Prize: All prizes that are below the main jackpot are known as secondary prizes.
- Shares: The equal parts of the jackpot that are divided among the syndicate members are known as shares.
- Subscription: The option that's provided to the player that allows him to enter various lottery draws.
- Syndicate: A group of players that play the lottery together while sharing the cost. When the syndicate wins, the prize is divided among the players equally.
- System: System is a formal method that's used by players to buy several tickets at once to increase their chances of winning.
- Terminal: The electronic devices used for printing tickets, managing payouts and checking results.
- Triple: When the same digit gets repeated three times in a three-four digit number is known as a triple.
- Unclaimed Numbers: The winning ticket that has not been claimed by any player.
- Underdrawn Numbers: The cold numbers or overdue numbers are also known as underdrawn numbers.
- Validation: When any player wins a lottery, the tickets are validated to confirm the winnings. This process is known as validation.
- Wager: A bet is also known as a wager.
Want to Know More?
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FAQs on Online Lottery Platform
Yes. We at GammaStack provide you API integrations of all the major lotteries such as Cash 5, Texas two-step, SuperLotto, Mega Million, PowerBall, and many more.
Yes, we provide feature-packed hybrids as well as native apps that align with your business needs and goals.
Mobile apps are great for your customers as they provide 24/7 access to lottery games and jackpots. In addition to this, these also provide an outstanding user experience on smaller screens which allows users to play their favorite games on the go, from anywhere, anytime.
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Yes, the online lottery platforms we provide are RNG certified by iTech Labs.
Sources
- https://www.jackpotfinder.com/guides/guide/lottery-glossary/
- https://www.thelotter.com/lottery-glossary/
- https://www.thelotterylab.com/blog-detail/a-glossary-of-popular-lottery-terms
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