- LottoGopher offers a subscription-based messenger service for purchasing and managing California lottery tickets
- The U.S. lottery industry is valued at $70 billion, and California’s stands at $6.3 billion
- The company plans to expand to 22 additional states and expects to grow its revenue to $50 million in the coming years
LottoGopher Holdings Inc. (OTCQB: LTTGF) (CSE: LOTO) (FRA: 2LG) provides subscription messenger services to consumers in California who purchase lottery tickets. The company has succeeded with subscription-based products, offering flexible, scalable services to the tens of millions of U.S. consumers who buy lottery tickets.
The benefits of subscription models, stated in a recent industry article (http://dtn.fm/9wTZn), include having an array of bundled services available at a single monthly rate. Features and offerings can be adapted to address consumer sentiment. The increase in conversions is another benefit to LottoGopher, as its testing phase revealed website visitors responded favorably – 43 percent of those who followed the email sign-up process became members and 12 percent of free plan members signed up for paid plans. These results reveal LTTGF’s market and growth potential. The company is currently “live” in California and plans to expand to 22 additional states. By 2020, LottoGopher projects revenue close to $50 million driven by demand in the $70 billion U.S. lottery industry. California’s lottery market currently stands at $6.3 billion.
LottoGopher’s idea has caught on. Its concept has been featured on CNN, NBC, ABC, CBS News, and Fox News. Time, Forbes, and the Los Angeles Times have also recognized the company. Recent growth in subscription numbers reflects the convenience offered to members, who can pay via debit and credit card, as well as bitcoin and ethereum, automatically every month. The trade-off is a supply of lottery tickets that members can manage through their secure accounts.
In a recent audio interview, LottoGopher president and CEO James Morel (http://dtn.fm/rG4l0) explained that LTTGF’s website is the first to let consumers use debit or credit cards online to buy lottery tickets, eliminating the need to travel to stores to make lottery purchases. Creating this third-party solution was practical, because it is primarily a messenger, affording access to state-run lotteries and consortiums such as Powerball and Mega Millions, instead of a gambling site. The customer-friendly, compliant system operates on a familiar subscription model similar to Netflix, so the company has built its system on best practices borrowed from other industries. Its model was inspired by leading subscription service providers such as Amazon.com, Inc.; Adobe Systems, Inc.; and Salesforce.com, Inc.
Morel also notes that the company set out to offer what the California lottery did not provide. He highlights the benefits of partnering with an industry expert, LottoLand, which is the largest online betting company outside the U.S. The partnership makes LottoLand shareholders in the company, with Lloyd Lemmon (LottoLand’s general council) on LTTGF’s board. Its partner has been in business since 2013 and has revenues of €500 million. Although it doesn’t sell software, music, video, or software subscriptions, LottoGopher Holdings has secured itself in a key niche market.
For more information, visit the company’s website at www.LottoGopher.com
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