Historically, state-sponsored lotteries have relied on the sheer volume of transactions, achieved through their monopoly status, to make the risk of paying big prizes reasonable. However, these advantages may be absent when a new game is started. Other businesses have developed risk-sharing mechanisms, including insurance against specific risks. ‘Synthetic’ lotteries like Lottoland have shown these can work in gaming. There maybe something to learn here, as I discuss in NASPL Insights August 2018.