NetworkNewsWire
Editorial Coverage: Before COVID-19 transformed the world, many
sectors were already moving toward digital adoption and adaption;
the global pandemic has hastened that transition in many ways. The
world revolves around smartphones, laptops, computer and digital
devices as almost anything can be done online—from seeing a doctor
to attending school. Even as hope for the pandemic ending surges,
the trend to live life online is likely here to stay. The founders
of Lottery.com (Profile), which
recently entered a definitive merger agreement with Trident
Acquisitions Corp. (NASDAQ: TDAC) to become a publicly
listed company, recognized the shifting trend years ago and
were pioneers in addressing the untapped online global lottery
market. The company has found a way to combine blockchain with
other cutting-edge technology to provide at-home lottery
participation, with the end goal of being a leader in the huge
lottery and sports betting markets. Now the company is timing its
entrance into another hot public market: investor appetite for
special purpose acquisition companies, or SPACs. The gambling space
could see unprecedented growth as the pandemic eases and the
economy recovers. Some of the big players in the space have online
options and are looking to benefit from all things digital.
Boyd
Gaming Corporation (NYSE: BYD)
offers B Connected Online, a robust, attractive online player
community. Caesars
Entertainment Inc. (NASDAQ: CZR)
has Caesars Casino & Sportsbook where users can participate in
world-class casino games and wager on sports. Wynn
Resorts Limited’s (NASDAQ: WYNN)
WynnBET is a premier casino and sports betting app that was just
awarded an online sports betting permit in Virginia, and Las Vegas Sands Corp. (NASDAQ:
LVS) is reportedly eyeing online betting
opportunities.
- Valued at $398 billion, the global lottery market tops out at
more than the SaaS, video games and film industries combined.
- Lottery.com has announced a definitive agreement to become a
public company through a business combination with Special Purpose
Acquisition Corporation (SPAC) Trident Acquisitions Corp.
- The company has created a suite of high-margin lottery
products, with operations in 12 U.S. states and plans for
expansion.
- Future gross revenue forecasts estimate $71 million in 2021,
$279 million in 2022 and $571 million in 2023.
Click here to view
the custom infographic of the Lottery.com
editorial.
Mind-Boggling Numbers
Multibillion-dollar markets are compelling opportunities, and
that is certainly true of the $138 billion
global video games or $158 billion
Software-as-a-Service (SaaS) sectors. However, even more attractive
is the $398 billion
global lottery market — larger than the global video games and
SaaS markets combined. Even more mind boggling are the projections
that the global lottery market will reach $625 billion by 2025.
Despite the numbers, the opportunity is often unrecognized as
long-held patterns of buying lottery tickets at a retail point of
sale may seem hard to change. With less than 3% of global lottery
sales made online, the challenge is evident, but the potential is
vast: that’s only an estimated $12 billion market penetration into
a nearly $400 billion industry. With an increase in online activity
seemingly inevitable, the possibilities of growth and return seem
appear significant.
A Winning Proposition
Relying on blockchain technology, Lottery.com is
paving the way for a new digital world by creating a global
marketplace for games of chance. One of the most recognized players
in the space, Lottery.com is a leading provider of global lottery
data with a varied product offering. The company’s online platform
and mobile application provide an ideal avenue for users to play
state-sanctioned lottery games anywhere, simply through their
digital devices. The appeal of the service is clear; in 2020,
Lottery.com reached a milestone, selling more than one million
Powerball and Mega Millions tickets.
Lottery.com is working closely with state organizations to
bridge the gap between retail and digital sales. Currently
Lottery.com operates in 12 states; plans are in place to expand to
six more in 2021 and to be operational in 34 states by the
end of 2023. The company’s technology is designed to be turnkey,
with blockchain as a digital ledger that enables users to securely
play from a selection of sanctioned games, track winning numbers
and jackpot totals, and access winnings in accordance with state
laws. And as with retail lottery prizes, players receive 100% of
the winnings.
How does Lottery.com win? The company receives revenue primarily
from service fees paid by app users and subscription fees for
lottery data access from digital publishers and other data
consumers. The company is already a top lottery data service
provider, with more than 400 customers, including well-known names
such as Google and Amazon. Lottery.com charges a subscription fee
to its data clients plus a per-record fee for certain data sets;
the model results in a margin that usually lands between
75%–95%.
The company has a spectrum of other business-to-consumer (B2C)
and business-to-business (B2B) products that range in margin from
17% to 54%. These include a robust API platform for selling lottery
tickets, domestic and international lotteries, international games,
charitable sweepstakes and an innovative user subscription program
that provides premium market data and exclusive, members-only
lottery pools.
SPACs: The Hot Investment Trend
Lottery.com previously announced a definitive agreement to go
public through a business combination with Trident
Acquisitions Corp. (NASDAQ: TDAC), a SPAC that raised
money through an IPO exclusively for the purpose of acquiring a
private company. It is anticipated that the resulting company will
trade on NASDAQ under the ticker LTRY. SPACs are a hot investment
trend right now. A recent Business
Insider article reported that $166 billion in
SPAC deals took place in the first quarter of this year, more
than 2020 combined. The opportunity appeals to a broad range of
savvy investors looking to for a quick entrance into the public
domain.
The planned Lottery.com merger is particularly noteworthy, given
the company’s management team, which includes successful serial
entrepreneurs. In addition, the company’s list of investors and
advisors who are betting big on the digital gaming market is
equally impressive, including names such as Senator Mark Lipparelli
(former chairman of Nevada Gaming Control Board and current
chairman of Galaxy Gaming) and Paraag Marathe, president of the San
Francisco 49ers Enterprises.
Winning Together
In addition, the online lottery pioneer is growing revenue
through an eye-catching suite of services (effectively an
e-commerce platform) and a data library packed with next-generation
blockchain technology. The numbers alone speak to the power of the
opportunity, with gross revenue rising at a compound annual growth
rate of 363% from 2016 to 2020 as a strong foundation was being
carefully and deliberately built. Management expects the trend to
continue, with gross revenue forecasts estimated at approximately
$71 million this year, $279 million in 2022 and $571 million in
2023.
Gross revenues aren’t the only objective for this company that
is looking to be a leader. Lottery.com is committed to social
impact as well, having just launched WinTogether, a program that allows players to
donate to qualified causes while entering sweepstakes to win luxury
prizes or once-in-a-lifetime experiences. The program’s inaugural
campaign supported the Time for Trees(R) initiative where the
winning participant could win a Tesla Cybertruck.
With a broad vision in place, Lottery.com is moving forward with
high expectations that, as the digital trends continue to grows,
digital gaming will be a winning ticket.
Playing the Betting Game
As the move to online living continues to touch every part of
everyday living, the ability to play the betting game — lottery,
sports, games and more — is certain to grow as well. Smart
companies in the space see the writing on the wall and are
launching into the space.
Boyd
Gaming Corporation’s (NYSE: BYD)
B Connected Online is the “best in sports
betting right on your mobile device,” touts the company. The
app allows users to wagers on all types of sports from football and
basketball to tennis and golf, with the touch of a finger. Users
can place straight bets, parlays, round robins or teasers; the app
also enables users to view real-time scores, propositions and odds
and access convenient account funding and access to winnings.
Caesars
Entertainment Inc. (NASDAQ: CZR)
calls its online offering a “sports book in the
palm of your hand.” With Caesars Sportsbook, users enjoy a
convenient way to place a sports wager anytime, anywhere the mobile
sports app is approved and legal. Users can skip the lines and
experience sports wagering using either an iOS or Android device.
The app provides a way for users to wager securely and in real
time; rewards can be redeemed anywhere in the Caesars Entertainment
network, including hotels, restaurants, bars, etc.
Wynn
Resorts Limited (NASDAQ: WYNN)
just announced that it has been issued a permit
for the operation of online sports betting in Virginia, the
10th state to be added to the growing list of jurisdictions where
WynnBET plans to launch. The WynnBET mobile app will soon be made
available to sports betting enthusiasts for registration and use
throughout the state. Inspired by Wynn Resorts sophisticated brand
experience, the WynnBET app offers an ultra-intuitive and highly
responsive interface that delivers hundreds of sports betting
options to delight both aficionados and beginners alike.
Las Vegas Sands Corp. (NASDAQ:
LVS) is reportedly eyeing online betting
opportunities. A Bloomberg
article reported that Las Vegas Sands Corp. has had
discussions with potential partners in the fast-growing field of
sports betting, “setting the stage for a major shift in the
company’s strategy, according to people familiar with the
situation. Robert Goldstein, acting chief executive officer, is in
the early stages of talks, but plans could involve using the Sands
brands or the broader development of a betting platform by the
company, said the people, who asked not be identified because the
discussions are private.”
With online gambling markets seemingly a clear indicator of
interest and potential, the online lottery space appears to be a
play worth considering as investors eye the future of gaming.
For more information about Lottery.com, please
visit Lottery.com.
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