Scratch Off Lottery Tickets

[Do3r17]

Hi, my name is Eric and I'm a young entreprenur looking for my next venture in the world. SCRATCH OFF TICKETS! I have done some research and I know a bit about it. However, I cant seem to find any information about what the general start up cost would be, how to promote the tickets to gas stations, grocery stores, etc..., and the rules and regulations here in Indiana.

I've tried searching google, but really, I didn't expect to find anything; and I didn't. Now, I was wondering if anyone by some odd chance happened to know anything at all about the scratch off ticket industry. Please, if you do, anything will help. I'm also very open to new ideas.

Thanks,



Eric

[3ntrepreneur]

Wow that would be a very hard startup in my eyes. There will be a lot of licesnes that will probably need to be attained. But the sky is the limit! Try calling the state and figuring out what laws pertain to this business. It could be potentially very successful.

[Do3r17]

I looked through the websites of the scratch off tickets, and after all the winnings are taken out, they all average about $10,000,000. Now, thats after they sell all the tickets, which may not happen if all potential winning tickets are won. I know some of the advertising slogans that must be used to protect against false advertising. I know high winning percentages are important in selling the tickets. I will try calling the state and actual scratch off ticket companies to try and obtain information. However, I think it will be very limited. It almost seems that you have to have connections in order for this to start.

[turbocivic16]

OR you could take a 100 bucks and buy alot of scratch offs and i bet you would more than double your investment...lady used to do it mcdonalds when i worked there cuz her check sucked...yes it involves some luck but with purchasing htat much i bet you could do it

[youngmoneyblog]

are scratch-offs a private business? I thought the lottery and such was run by the states

[nado]

are scratch-offs a private business? I thought the lottery and such was run by the states

I think the government do have a major involvement in it and the lottery/gambling.

I suggest looking at another industry, as even if you could privately setup and run it... where will you get the money from to cover winnings? It would be a massive risk to assume that you will sell more than enough tickets to cover potential winnings, and pay for the licenses and whatever the % is that the government takes.

cheers
nathan

[Do3r17]

I think the government do have a major involvement in it and the lottery/gambling.

I suggest looking at another industry, as even if you could privately setup and run it... where will you get the money from to cover winnings? It would be a massive risk to assume that you will sell more than enough tickets to cover potential winnings, and pay for the licenses and whatever the % is that the government takes.

cheers
nathan

I'm not sure if it is run by the state, thats why I'm calling them today. I'm pretty sure the state of Indiana takes 26%. I understand you think its very risky, and it can be. However, I still feel theres is money to be made if it can be run by individual firms.

[nado]

I'm not sure if it is run by the state, thats why I'm calling them today. I'm pretty sure the state of Indiana takes 26%. I understand you think its very risky, and it can be. However, I still feel theres is money to be made if it can be run by individual firms.

Oh ok great, gambling is a mutli-mutli-billion dollar industry... so if you setup and prepare yourself for the possibility of an early scratchie win (do you guys call them scratchie's in the US?).. then go for it!

[Do3r17]

Scratch off Tickets

edit: I called the state and discovered they do run the entire lottery corporation. However, they do not manufacturer the scratch off tickets. Although it is an opportunity to manufacturer these scratch off tickets, its not what I was looking for. I decided that its just not me, and I wouldn't enjoy it.

[lisa1979]

How about doing a flash banner with a scratch ticket on. Once created it will be much cheaper to maintain!

My lottery company have done something similar with a free go to win a cash prize.

Lisa

[Cobrainside]

That already exist.. google it

[YPAL]

OR you could take a 100 bucks and buy alot of scratch offs and i bet you would more than double your investment...lady used to do it mcdonalds when i worked there cuz her check sucked...yes it involves some luck but with purchasing htat much i bet you could do it

If you think about what you just said I hope you would realise how stupid it is. So if we all go round buying 100 tickets were all going to double our money. Then the lottery goes bust.

You stand just as much chance winning on that one scratch card as you do if you buy 1 or 101 of them.