1. A method of administering a lottery, comprising the steps of: (a) receiving from a user a communication identifying a unique identification code associated with a first lottery card and a monetary amount; (b) establishing a user account associated with the unique identification code for said first lottery card, said user account having a balance equivalent to the monetary amount; (c) receiving from the user a communication identifying a first chosen play for a lottery game, said first chosen play being associated with said user account; (d) deducting a cost of the first chosen play from the balance of said user account, a remaining balance in said user account after said deduction being available for making at least one subsequent play; and (e) if it is verified that said first chosen play is a winner, crediting a winning monetary amount for said first chosen play to said user account, wherein said winning monetary amount may be redeemed upon presentation of said first lottery card to an authorized lottery agent.