Lottery Now CEO Says DraftKings’ Acquisition of Jackpocket is a Watershed Moment in Lottery Innovation

ENNIS, MONTANA (February 20, 2024) – DraftKings, a leading provider of sports betting and daily fantasy sports, announced its acquisition of Lottery courier service Jackpocket. This strategic move underscores the online sports betting industry’s commitment to driving innovation in the gaming space and recognizes Lottery couriers’ opportunity to bring that same innovation to state and international Lotteries.

Lottery Now CEO Kevin Kramer commented on the significance of the acquisition, stating, “We congratulate DraftKings on their vision in the space and are thrilled to see their validation of the hard work that companies like Lottery Now, Jackpocket, and others have done to bring consumer convenience and innovation to the Lottery industry. We’re also happy for Jackpocket’s CEO, Pete Sullivan, and his team for the progress they’ve made and the visibility they’ve brought to the courier space.”

Lottery Now operates the popular Mido Lotto courier app boasting more than 32,000 5-star reviews in the Apple App Store and available in nine states.

“The innovation opportunities provided by Lottery couriers can provide State Lotteries much-needed tools for moving Lottery games into the 21st century and reducing the regressiveness of this crucial state funding tool,” continued Kramer. “This acquisition can lend the courier space the technical strengths that have fueled sports betting since its federal legalization and give legitimacy to the new experiences we’ve created. Given the comparative size of Lottery at $108 billion in the U.S. and Sports Betting at $7.5 billion, there’s a massive opportunity to impact many more American consumers and the good causes that Lottery supports by bringing Lottery courier services into the modern age.”

Legalization, innovation around the user experience, and other new business opportunities have all been factors driving growth in the sports betting industry. In 2022, the sports betting market showed the fastest growth in all commercial gaming segments, with a staggering 75% increase in revenue year-on-year [Source: American Gaming Association, 2023].

Innovative technologies, including frictionless user experiences, automated bet placing, AI and machine learning tools that increase the accuracy of bet predictions, mobile applications, and live streaming, have fueled the growth of online sports betting since the federal ban was lifted in 2018.

Order Lottery Tickets on Mido Lotto

The market size of sports betting at $7.5 billion, however, is dwarfed by the $108 billion dollar revenue of state Lotteries. Despite that huge number, Lottery innovation is decades behind. As a result, growth of the Lottery industry is only 2.5% year over year. Whereas sports betting has placed significant investment into modern technology, Lotteries are largely still brick and mortar, cash-based businesses. Mobile technology, blockchain strategies, and implementation of AI in the space are significantly changing the Lottery landscape and bringing younger, more affluent players, as well as significant global opportunities, to the space.

DraftKings’ acquisition of Jackpocket represents a pivotal moment in the convergence of traditional Lottery gaming and innovative technology. By leveraging Jackpocket’s expertise in Lottery courier services and DraftKings’ track record of technological innovation, the combined entity aims to revolutionize the Lottery industry, ushering in a new era of convenience, accessibility, and excitement for players across the nation.

Lottery Now, along with its Mido Lotto app, is strategically positioned to capitalize on the market opportunities presented by this acquisition.

For more information about Lottery Now, and their Mido Lotto Lottery courier app and its latest developments, visit midolotto.com or email investors@lottery-now.com.

About Lottery Now and Mido Lotto  

Lottery Now increases good cause contributions by bringing Lottery into the mobile, social, and convenience age. Our app, Mido Lotto, is an accessible, trusted and exciting new way for people to conveniently and safely play the Lottery. We fulfill all orders with official state-licensed Lottery retailers to offer a digital “convenience service” for the ordering and management of Lottery tickets bringing Official State Lottery draw-games to residents across states without a trip to the store. Lottery Now opens the Lottery for everyone to play, win, and make an impact for the people and causes they care about.

Mido Lotto is a legitimate resource for all eligible persons interested in playing the State Lottery from the safety of their phones. Mido Lotto is not affiliated with, nor endorsed by Powerball, Mega Millions or the State Lotteries, and makes no claim of ownership regarding any intellectual property of the State Lotteries. For more information, please visit midolotto.com.

SOURCE: Lottery Now (Mido Lotto).