- LTTGF sets sights on $80 billion U.S. lottery market
- Cryptocurrencies and online lottery disruption targeted by LTTGF’s blockchain plans
- Federal Reserve study: non-cash payments hit $178 trillion, led by quick growth of debit cards
LottoGopher Holdings Inc. (OTCQB: LTTGF) (CSE: LOTO) (FSE: 2LG) is positioning itself to excel in a cryptocurrency world as the U.S. and other countries increasingly become cashless. The Los Angeles-based company is making online lotto gaming with cryptocurrencies attractive to consumers who increasingly make purchases with non-cash methods. LTTGF’s blockchain creation strategy could generate even more growth in this environment by adding a security to transactions utilizing blockchain technology.
LottoGopher recently announced its intention to build and launch applicable blockchain technologies as it relates to online lotteries. As part of this, the company has retained blockchain investor and media strategist Jeff Koyen as an independent adviser (http://dtn.fm/5Zx41). The proposed lottery blockchain could increase trust and visibility in the ownership of the actual ticket, he said, adding that a “Lottery Blockchain” could be beneficial to both traditional and online lotteries. In fact, Bitcoin News Service calls the combination of cryptocurrencies and online gambling a “match made in heaven” (http://dtn.fm/4rJOn).
James Morel, CEO of LottoGopher, said in reference to the development of blockchain technologies for LTTGF’s lottery services, “It has been and will continue to disrupt the way businesses operate in the foreseeable future, and we are in preparations now to leverage this technology for lottery-specific applications.”
LTTGF currently operates in the $6.3 billion California market (http://dtn.fm/oLb6N) as a lottery messenger service that permits buyers to buy state lottery tickets online via credit and debit cards, manage their accounts, and receive the latest state lottery news. Eventually, it plans to be operational in 22 more states within the $80 billion total U.S. national lottery market (http://dtn.fm/ubQQ2).
The Federal Reserve Payments Study of U.S. consumer and business spending habits, released in 2017 (http://dtn.fm/d6PBn), found that non-cash payments reached 144 billion payments totaling $178 trillion in 2015. By value, it saw non-cash payments grow by 3.4% from 2012-2015. As payments by check fell, debit cards grew fastest among credit cards — showing a $2.56 trillion valuation, with an annual growth of 6.8%. Clearly, Americans are spending more with credit and debit cards and less with checks and cash.
LTTGF is laden with celebrities. In addition to board member Kevin Harrington, ex-star of the Shark Tank TV show, its spokesperson is well-known actor William Shatner. Prior, he was a spokesperson for Priceline (NASDAQ: PLCN), whose stock skyrocketed in value during his association.
While Harrington is active on LTTGF’s board, Mark Cuban — the successful entrepreneur and also a Shark on the show — is investing in Unikrn, a blockchain sports betting platform, Fortune reports (http://dtn.fm/GmHR3). At the same time, he is investing in its UnikoinGold cryptocurrency. Last month, CoinDesk reported that Unikrn was awarded a gaming license in Malta, seen as presaging widespread online sports gaming in Europe (http://dtn.fm/NQu34).
For more information, visit the company’s website at www.LottoGopher.com
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