Australian lottery loses popularity

The Australian lottery needs to reinvent itself.
The Australian lottery needs to reinvent itself.

The Australian lottery seems to have fallen in disgrace as the local population lost interest in buying tickets over small prizes.

Australia.- The Australian lottery is experiencing a ‘jackpot fatigue’. Potential buyers have lost interest in acquiring tickets as jackpot prizes are considered too small.

J.P. Morgan analyst Donald Carducci explained the jackpot needs to nearly double to excite players. That way, the fear of missing out (FOMO) increases.

“Record-breaking jackpots significantly move the FOMO point higher. That requires increasingly larger prizes to lure non-frequent players to purchase tickets,” he said. “While there was an increase in ticket sales for larger jackpots, this was not enough to compensate for the decrease in sales for lower-mid size jackpots due to jackpot fatigue.”

New markets

The Emporium mall in Melbourne, Australia, is set to feature what will become the largest eSports venue in the southern hemisphere. Fortress Esports will take up to 2,700 square meters across two floors once it opens in 2020.

The eSports venue will feature 160 gaming PCs, gaming suites, dedicated steamer pods, a tabletop gameplay arena and RPG. It will also have function rooms, along with a full-service restaurant, two bars and a 200-seat arena.

To develop the facility, Fortress partnered with US-based Allied Esports, which will also offer its expertise in global event programming, development and operation. The venue will also work with global architectural design firm Populous, which has built stadiums like the new Tottenham Hotspur Stadium in London.

“Melbourne has become the epicentre for video gaming and esports culture with major events like Melbourne Esports Open and PAX Australia,” said Jon Satterley, CEO at Fortress Esports. “So we’re excited to be opening our first flagship venue there and offer Australians a unique entertainment space that they can enjoy all year round.

In this article:
australia business