USA-based online lottery ticket platform Jackpot.com announced its launch in Texas along with USD 42 million funding. The company announced the launch and subsequent fundraise on January 9, 2023. Earlier, the company raised USD 35 million in Series A financing.
It secured an additional USD 7 million from the giants in the sports and online gaming industry. Dallas Cowboys, New York Yankees, Aurum Partners (owners of the San Francisco 49ers), the Tisch family (co-owners of the New York Giants), Detroit Venture Partners (run by Cleveland Cavaliers owner Dan Gilbert), and BettorCapital provided the financing for the firm.
Purpose of investment for Jackpot.com
Besides financing, the company entered into marketing partnerships with the Dallas Cowboys, Houston Rockets, and San Antonio Spurs. As a part of the deal, Jackpot.com intends to offer promotions geared toward these fanbases and cross-promoting the Jackpot.com app on radio, the internet, and billboards.
What the investors and partners have to add
Dallas Cowboys Executive Vice President Chad Estis said, “Texans love to play and love to win, which is why the Dallas Cowboys are excited to partner with Jackpot.com to bring our fans a new way to buy lottery tickets conveniently, safely, and responsibly.”
In addition, Houston Rockets President of Business Operations Gretchen Sheirr said, “The Rockets organization is always looking to change the game through innovation – both on and off the court – and is proud to partner with Jackpot.com as they usher in a convenient and exciting way for our fans to play the lotteries online here in Texas.”
Besides, Spurs Sports and Entertainment COO Brandon Gayle said, “Jackpot.com makes buying a lottery ticket more convenient than ever – Spurs fans can now play the lottery right from their phone or laptop. We’re proud to partner with Jackpot.com to bring safe gaming to our fans across Texas.”
Further, New York Yankees Chief Financial Officer Tony Bruno said, “The Jackpot.com platform is straightforward, convenient, and extremely user-friendly, providing best-in-class safety and security. The Yankees are excited to partner with Jackpot.com as it continues its focus on innovation and grows its brand awareness.”
Moreover, New York Giants co-owner and Tisch family representative Carolyn Tisch Blodgett commented, “Having worked with some of the world’s most successful companies, I’ve learned to recognize innovative ideas. I jumped at the opportunity to join Jackpot.com’s journey and help them transform the lottery space.”
San Francisco 49ers Chief Investment Officer and Aurum Partners Co-Founder Brano Perkovich further added, “Representing the world’s tech capital, the San Francisco 49ers have long embraced modernizing the experiences people love. Just as we’ve pioneered innovations at our stadium to enhance the fan experience, Jackpot.com is innovating how Americans play the lottery by bringing the game right to your fingertips in a fun, safe way.”
BettorCapital Founder and CEO David VanEgmond said, “When you can buy everything from a cup of coffee to a car on your phone, it’s about time you should also be able to play the lottery from anywhere. As leading investors in the online gaming industry, we are committed to helping Jackpot.com modernize this multibillion-dollar business through the innovation that is core to Jackpot.com’s mission.”
What the company’s official has to say
In 2016 Founders Akshay Khanna, Roi More, and Yariv Ron launched the company.
Jackpot.com CEO and co-founder Akshay K. Khanna said, “More than half of Americans buy lottery tickets each year, but only a fraction is bought online – including in Texas, the country’s third-largest lottery market. During my time at StubHub, I saw first-hand how impactful digitization can be in expanding access and growing the industry. With Jackpot.com, we’re modernizing America’s favourite game by enhancing the player experience, expanding accessibility, and offering safety guardrails that set a new standard for responsible gaming – all while ensuring players never miss a draw or misplace their tickets again. Texans embrace innovation, and we know people across the Lone Star State will embrace Jackpot.com’s modern way to play.”
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