Less room to play? Go for an offshore lottery
Less Room to Play? Go for an Offshore Lottery
Given the booming lottery business in the U.S., the competition is getting larger and admittedly, the chances of getting ahead of the lotto industry is getting narrower, a reasonable move would be getting an offshore lottery. Next move, how can you actually set up one?
Get a licenseLogically, you need to get a business to license in order to operate a offshore lottery business. You can get the aid of an offshore lottery provider to be able to set up a lottery business offshore. This providers have an established contact with foreign governments to let you operate all kinds of lottery such as the traditional lottery ticket sales, online lottery, and the infamous bingo. Through an offshore lottery, you can:
- attract players from all over the world
- process a high volume of credit card transactions from customers
What you need to keep in mind is that the process of getting the license for an offshore lottery may take a few days longer than usual. Seizing the offshore lottery license may take two to four weeks.
Offshore lottery equals a lottery merchant account offshoreWhen you open up an offshore lottery business, then you'll definitely need to get a lottery merchant account. A lottery merchant is also ideally set up offshore mainly because it belongs to the high risk business category. With this type of account, you can process a high volume of credit card transactions in multiple currencies from your customer from every inch of the globe.