11 Common Terminologies Used in Lottery Games

Lotteries have been a common pastime and plaything for people well over centuries. No wonder it still remains one of the most popular gambling activities that people partake in all over the world.

Even though various types of lotteries are very popular and even non-gamblers enjoy it from time to time, most of the terminologies associated with the activity aren’t public knowledge. Online casinos offer bonuses like this BetMGM bonus offer that draws in more players. More casual players might also be the reason.

Let’s educate you about some of the common lottery terminologies.

lottery games

1. Bonus Ball in Lottery Games

Also known as the bonus number or supplementary number, is the number that gets drawn along with the lottery’s main draw. It affects the winner’s potential prize amount. It can be drawn either from the main draw’s pool or player’s own unique number pool.

2. Box Bet Used in Lottery Games

Box bet facilitates players to have huge winnings where the player’s selected number must match the drawn numbers by following any order. 

3. Cash Lotto Lottery Game

The Cash lotto lottery game gives massive amounts to the winners against some annuity payments.

4. Lottery Cash Option

Winners will be offered annuity jackpots by the cash option in the lottery games. This makes winners settle for amounts lesser than the original jackpot amounts, which can be up to or even less than 50% of the original jackpot amount.

5. Daily Lottery Games and Drawing

These lottery games take place every day. They have a minimum one draw each day on a certain occasion.

Drawing in lottery games is where the winning numbers are revealed and are usually broadcasted live on TV

6. Exact Order in Lottery Games

Exact order or straight refers to a wager option where player’s numbers exactly match the drawn number and that too in the same order for collecting the winning payout.

7. Fixed Payout in Lottery Games

Fixed payouts are the crash prizes that do not change regardless of the number of, or the lack of participating players.

8. Multi-Draw in Lottery Games

Multi-draw is based on a single ticket and is used to play lottery draws in large numbers.

9. Lottery Agent

The lottery agent is basically the agent or the retail vendor from whom lottery tickets are purchased. They are the middlemen between the players and the companies.

9. Payout of Lottery Game

Payout is the most common term that every bettor and gambler knows. It is basically the cash prize that a player wins and is entitled to cash out.

10. Pairs in Lottery Games

The chance of winning in 3 or 4 digit daily lotto games is referred to as Paris in Lottery games. The number selected by the player should either match the first two numbers, the last two numbers or should match first and last alternatively. The match earns massive cash pay-off.

11. Terminology of Pari-Mutuel

If two punters share the same winning number, they belong to the same prize tier, and they end up sharing a massive cash prize. This prize system is called Pari-mutuel. In this system, the jackpot grows with a growing number of lottery tickets being sold.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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