ONLINE LOTTERY TICKET COMPANY JACKPOT CLOSES $35 MILLION SERIES A

0

The cycle was co-directed by Partner in crime and Courtside Ventureswith the participation of Kraft Group, Michael Rubin, Haslam Sports Group, Elysian Park Ventures, Arctos Sports Partners, Sports Sapphire, Theo EpsteinPresident of Fenway Sports Group mike gordonco-founder and CEO of DraftKings Jason Robin, NBA Stars James Harden and Joel Embid, NHL legend Martin Brodeurmusical artist Little babyand President and CEO of the Boston Red Sox Sam Kennedyamong others.

Jackpot is a digital platform that makes it easy to buy official lottery tickets online. Customers will finally have the ability to purchase lottery tickets through a mobile app or desktop experience that allows them to shop from the comfort of their own home. The new capital will enable Jackpot to launch its product in United States and to transform the lottery industry through aggressive hiring, strategic acquisitions, partnerships with state lotteries and local market expansion.

In United Statesthe $100 billion per year, lottery business has been mostly offline and cash-based, with very little technology and data integration. In 2021, about half of all Americans purchased lottery tickets, but only ~5% of those sales came from online transactions.

As more states allow lottery tickets to be sold online, Jackpot’s highly developed proprietary technology provides a top-notch experience for customers. This new experience will help facilitate an increase in lottery ticket sales for states where the service is permitted, driving traffic to the lottery as a form of entertainment and bringing the lottery experience to younger audiences who don’t never bought lottery tickets before. . And with up 95 cents of every dollar spent on lottery games returning to the community through contributions to education, healthcare, prizes and other public initiatives, Jackpot’s mission to create the most is seen as a growth accelerator for positive public spending.

Jackpot’s seasoned management team has a proven track record in the technology, gaming and licensing industries. The team is led by Akshay K. Khannaco-founder and CEO of Jackpot – North Americaan accomplished sports and licensing executive who previously ran StubHub’s North America business and Harris Blitzer Sports & entertainment strategy group; co-founder Roi More, the co-founder of Gett; and co-founder Yariv Rona veteran of the real money gambling industry.

“As long-time investors in the real-money gaming space, we seek companies with the vision, expertise and experience to deliver real, tangible value. Jackpot has it all, which positions him perfectly to reinvent the lottery market,” said ryan moorepartner at Partner in crime.

“Jackpot fits naturally into our portfolio,” said Deepen Parikhpartner at Courtside Ventures. “Millions of Americans play the lottery every day, and Jackpot will now make the experience even better for consumers. We’re excited to work with the Jackpot team to revolutionize this massive industry.”

“More states across the country are now open to selling lottery tickets online, creating a huge opportunity to digitize the industry and provide a better, more convenient experience for the hundreds of millions of Americans who buy lottery tickets every year,” said Akshay K. Khanna, Co-Founder and CEO, Jackpot North America. “Jackpot’s goal is to become the leading online lottery ticket provider in United States. We are grateful for the support of our investors who will help us accelerate our mission to transform the lottery industry.”

Jackpot plans to launch US operations in select states this year. For updates on when it will be live in your state, visit jackpot.com.

About the jackpot

Jackpot is on a mission to fundamentally change the hundred billion dollar lottery industry by United States through innovation and variety. Jackpot brings official, verified state lottery tickets online by leveraging its digital platform and proprietary technology to give customers the ability to play anytime, anywhere via a user-friendly mobile app or desktop experience. To learn more, visit jackpot.com.

SOURCE Jackpot

Share.

Comments are closed.