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Jackpocket Raises $50M Series C Following New York Licensing and 4X Annual Growth

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Jackpocket, the first and only licensed third-party app in the U.S. to provide a secure way to order official state lottery tickets, announced today the conclusion of a $50M Series C funding round. After seven years of operation, Jackpocket has won regulatory approval in New York and New Jersey, and has also worked with eight other states to provide consumers with the easiest, most compliant way to play the lottery today. The company’s new investment is already paying off; in January alone, new user growth surpassed the entirety of 2020. After launching in New York last month, Jackpocket hit 7% of all Powerball tickets sold in the state.

The Series C funding was fueled by diverse companies, groups, and individuals who share Jackpocket’s vision to revolutionize the lottery and gaming market. This group includes major firms such as Raine Group, Greenspring Associates, Circle K Ventures, TEGNA Ventures, BRV Capital, and Gaingels, and a number of new high-profile individual investors, such as David Blitzer, the owner of the NJ Devils & 76ers, Sean Hayes, actor and producer best known for his role in Will & Grace, and Jon Ledecky, the owner of the NY Islanders.

“Lottery is the next major form of entertainment to go mobile, and Jackpocket is proud to lead that movement by partnering with state lotteries and legislators in the pursuit of a more accessible, convenient, and responsible lottery experience,” said Peter Sullivan, CEO and Founder of Jackpocket. “Our growth over the past 12 months highlights our ability to reach a new demographic of lottery players looking for fun and safe mobile experiences. This next round of funding will allow us to significantly grow our user base as we launch in new jurisdictions, expand our team, and continue to build the lottery of the future.”

The Series C funding will fuel new growth marketing campaigns and a series of new additions to the Jackpocket team to support aggressive expansion. The future for Jackpocket looks bright, as the app continues to reach previously untapped lottery audiences. New data found that nearly half of Jackpocket’s first-time players are 18-35 years old, and the overwhelming majority of Jackpocket’s users are under 45 years old.

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“Mobile lottery represents a tremendous area for growth in the $300-billion global lottery industry, and Raine is pleased to invest in this latest round for Jackpocket, the premier and proven leader in this space,” said Gordon Rubenstein, Managing Partner of Raine Ventures. “Jackpocket’s success is a testament to their deep understanding of the lottery consumer and regulatory environment, their cutting-edge, proprietary technology platform, and clear vision for the future of mobile gaming. From our experience in real money gaming, we fully expect Jackpocket to become a household name, and are delighted to partner with them as they continue to expand.”

 

SOURCE Jackpocket

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Bally Bet Sportsbook & Casino app

Bally’s Interactive Launches the New Bally Bet Sportsbook & Casino App in Ontario

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Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, has launched the all-new Bally Bet Sportsbook & Casino app in Ontario, Canada. This latest release marks another significant milestone for the company, following the recent app update in New Jersey and a series of successful app launches in the past year, including the introduction of Bally Bet Sportsbook across multiple states and Bally Casino in Rhode Island.

The updated Bally Bet Sportsbook & Casino app represents a major step forward, as it combines the functionalities of the existing Bally Casino app and Bally Bet Sportsbook app into one comprehensive platform. Powered by White Hat Gaming, this new app allows players residing in or traveling to Ontario to conveniently place wagers on both sports and casino games using a single app, account, and universal wallet.

“We are thrilled to introduce the new Bally Bet Sportsbook & Casino app, marking a significant milestone for Bally’s. This integrated platform merges the features of our previous apps, providing players in Ontario with a seamless experience for both sports and casino betting. Our commitment to enhancing the player experience remains at the forefront as we strive to personalize the enjoyment of playing Bally Bet,” said Robeson Reeves, CEO of Bally’s Corporation.

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BCLC

Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids

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BCLC reminds adults to gift responsibly this holiday season

With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.

“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”

While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.

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“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”

In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.

“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:

  • Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
  • Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
  • Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
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AGCO

Jackpot Digital Receives Approval from AGCO as a Registered Gaming Supplier

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Jackpot Digital Inc., a leading provider of innovative dealerless electronic poker gaming solutions, has announced that the Alcohol and Gaming Commission of Ontario (AGCO) has approved the Company to be licensed as a registered Gaming Related-Supplier (the “Supplier License”) under the Gaming Control Act in the Province of Ontario.

This significant achievement allows Jackpot Digital to enter one of the most dynamic and rapidly growing regulated gaming markets in North America. The Supplier License authorizes Jackpot Digital to supply its electronic table games to Ontario’s gaming venues, including casinos and other regulated gaming facilities.

Jackpot Digital’s flagship product, the Jackpot Blitz electronic table game system, offers a modern, dealerless, player-friendly solution that integrates traditional multiplayer poker games with cutting-edge digital technology. The Supplier License will enable the Company to offer its innovative gaming solutions to operators throughout Ontario, driving new revenue opportunities and enhancing player experiences.

“Receiving AGCO’s approval is a major milestone. This approval provides us with the opportunity to offer our top-tier electronic gaming systems to operators throughout all of Ontario, positioning us for further growth in one of the world’s most robust gaming markets. We are excited to bring our innovative products to Ontario’s gaming community and continue our commitment to providing exciting, technology-driven entertainment experiences,” said Jake Kalpakian, CEO of Jackpot Digital.

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