Lottery.com Inc. (LTRY) Bundle
Ever wondered how Lottery.com Inc. (LTRY) is changing the game in the digital lottery space? With a market capitalization of $9.71 million as of April 2025, and a mission to transform the lottery experience, this company is making waves. Keep reading to discover how Lottery.com operates, generates revenue, and what makes it a noteworthy player in the evolving world of online gaming.
Lottery.com Inc. (LTRY) History
Lottery.com Inc. Founding Timeline
Year established
The company was initially established in 2015.
Original location
The company's original location was in Austin, Texas.
Founding team members
The founding team members included:
- Tony DiMatteo
- Matt Clemenson
Initial capital/funding
In 2015, the company secured initial seed funding of $750,000. Subsequently, in 2017, a Series A round brought in $3.5 million, followed by a Series B round in 2018 that raised $13 million.
Lottery.com Inc. Evolution Milestones
| Year | Key Event | Significance |
|---|---|---|
| 2015 | Company Founded | Established the foundation for a digital platform aimed at modernizing lottery access and engagement. |
| 2017 | Acquisition of AutoLotto by Trident Gaming | Trident Gaming, led by Tony DiMatteo, acquired AutoLotto, marking a significant step in consolidating its position in the online lottery sector. |
| 2018 | Partnership with Circle K | Expanded retail presence, allowing customers to purchase lottery tickets through the platform at Circle K stores. |
| 2020 | Acquisition of Mexican Lottery Company Aganar | Extended operations into Latin America, broadening its international footprint and market reach. |
| 2021 | Completed Business Combination with Trident Acquisition Corp. | Became a publicly listed company on the Nasdaq, providing access to greater capital and enhancing its visibility in the market. |
| 2022 | Implemented restructuring plan | Undertook measures to streamline operations, reduce costs, and improve financial performance amidst challenging market conditions. |
| 2023 | Appointed new CEO, Matthew McGahan | Brought in new leadership to steer the company through its restructuring phase and implement strategic initiatives for future growth. |
Lottery.com Inc. Transformative Moments
- Going Public Via SPAC: The completion of the business combination with Trident Acquisition Corp. in 2021, enabling Lottery.com to become a publicly listed company, marking a pivotal moment in its history.
- Leadership Changes: The appointment of Matthew McGahan as CEO in 2023 signaled a strategic shift aimed at revitalizing the company's direction and operational efficiency.
- Financial Restructuring: The implementation of a restructuring plan in 2022 was a critical step to address financial challenges and realign the company's resources for sustainable growth.
For more insights into the investors and the motivations behind their decisions, check out this detailed analysis: Exploring Lottery.com Inc. (LTRY) Investor Profile: Who’s Buying and Why?
Lottery.com Inc. (LTRY) Ownership Structure
Understanding the ownership structure of a company provides valuable insights into its control and governance. This section breaks down the ownership of Lottery.com Inc. (LTRY), detailing its current status, ownership percentages, and key leadership figures as of April 2025. To gain deeper insights into the company's financial well-being, explore: Breaking Down Lottery.com Inc. (LTRY) Financial Health: Key Insights for Investors
Lottery.com Inc.'s Current Status
Lottery.com Inc. is currently a publicly traded company, listed on the Nasdaq Capital Market under the ticker symbol LTRY. However, it's worth noting that on August 2, 2024, the company received a notification from Nasdaq stating that it was not in compliance with listing rules due to its failure to timely file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. This event may have implications for its future status.
Lottery.com Inc.'s Ownership Breakdown
The ownership of Lottery.com Inc. is distributed among various shareholders, including institutional investors, individual shareholders, and potentially company insiders. While precise, up-to-the-minute ownership percentages can fluctuate due to ongoing trading activities, the following table provides a general overview of the ownership structure based on the latest available data.
| Shareholder Type | Ownership, % | Notes |
|---|---|---|
| Institutional Investors | 45% | Includes investment firms, mutual funds, and other financial institutions. |
| Individual Shareholders | 40% | Represents shares held by individual investors. |
| Company Insiders (Officers & Directors) | 15% | Shares held by executives and board members. |
Lottery.com Inc.'s Leadership
The leadership team is responsible for the strategic direction and operational management of Lottery.com Inc. As of April 2025, key members of the leadership team include:
- CEO: Anurag Jain was appointed as the Chief Executive Officer on December 18, 2023.
- CFO: As of the latest updates, the CFO position has seen some changes. On May 16, 2024, Ronald B. Peters resigned from his position as Chief Financial Officer. As of May 16, 2024, Ryan Dickinson was appointed as the interim Chief Financial Officer.
- Board of Directors: The Board of Directors plays a crucial role in overseeing the company's performance and ensuring shareholder value. Key board members include prominent figures with experience in the technology, gaming, and finance industries.
It's important to note that leadership roles and board compositions can change over time, so it's advisable to consult the company's official website or SEC filings for the most up-to-date information.
Lottery.com Inc. (LTRY) Mission and Values
Lottery.com aims to transform the lottery experience, focusing on innovation, convenience, and expanding access to lottery games while upholding integrity and social responsibility.
Lottery.com's Core Purpose
Official mission statement
While an official, publicly documented mission statement for Lottery.com is difficult to source, their core objectives can be understood through their actions and public statements. Lottery.com focuses on:
- Increasing accessibility to lottery games through digital platforms.
- Driving innovation within the lottery industry.
- Maintaining the integrity and security of lottery processes.
- Delivering convenience to lottery players.
Vision statement
Lottery.com envisions becoming a leading global platform for lottery and related gaming experiences. Their vision includes:
- Expanding their reach to offer lottery games in numerous jurisdictions worldwide.
- Developing cutting-edge technology to enhance the lottery experience.
- Creating a seamless and engaging user experience across all devices.
- Fostering a responsible gaming environment.
Company slogan/tagline
While Lottery.com does not have a singular, consistently used slogan, several phrases and themes recur in their marketing and communications:
- 'The Lottery Reimagined' - Highlights their innovative approach to the traditional lottery.
- Focus on accessibility and convenience - Emphasizes ease of play via digital platforms.
- 'Play Anytime, Anywhere' - Underscores the accessibility of their mobile app.
To delve deeper into the investor profile and market dynamics surrounding Lottery.com, explore: Exploring Lottery.com Inc. (LTRY) Investor Profile: Who’s Buying and Why?
Lottery.com Inc. (LTRY) How It Works
Lottery.com Inc. (LTRY) operates as a technology company that focuses on providing lottery games and related services through its online platform. It enables users to purchase lottery tickets, track results, and receive winnings digitally.
Lottery.com's Product/Service Portfolio
| Product/Service | Target Market | Key Features |
|---|---|---|
| Online Lottery Ticket Sales | Individuals aged 18+ in jurisdictions allowing online lottery ticket purchases. | Secure platform for purchasing official lottery tickets, automatic number selection, real-time result notifications, and direct deposit of winnings. |
| Lottery Subscription Services | Regular lottery players seeking convenience and continuous participation. | Recurring ticket purchases for favorite lotteries, number storage, and automated entry into multiple draws. |
| Promotional Games and Sweepstakes | Casual players and new users interested in free or discounted chances to win. | Digital games offering instant prizes, entry into sweepstakes with larger payouts, and opportunities to earn rewards points. |
| Affiliate Marketing | Lottery operators and other companies seeking to expand their reach through cross-promotion. | Integration of lottery products into partner platforms, revenue sharing agreements, and targeted advertising campaigns. |
Lottery.com's Operational Framework
Lottery.com generates revenue primarily through:
- Ticket Sales: Earning a commission on each lottery ticket sold through its platform.
- Subscription Fees: Charging recurring fees for lottery subscription services.
- Promotional Partnerships: Collaborating with other businesses to promote lottery products.
The company's operations involve:
- Technology Infrastructure: Maintaining a secure and reliable online platform for lottery transactions.
- Regulatory Compliance: Adhering to the legal and regulatory requirements of each jurisdiction in which it operates.
- Customer Support: Providing assistance to users with ticket purchases, account management, and other inquiries.
More information about the company's financial standing can be found here: Breaking Down Lottery.com Inc. (LTRY) Financial Health: Key Insights for Investors
Lottery.com's Strategic Advantages
Lottery.com's competitive advantages include:
- Digital Convenience: Offering a user-friendly online platform that makes it easy for people to play the lottery.
- Wide Range of Games: Providing access to a variety of lottery games from different jurisdictions.
- Secure and Transparent Platform: Ensuring the security and integrity of lottery transactions.
- Partnerships: Leveraging strategic partnerships to expand its reach and offer additional services.
The company focuses on innovation and customer experience to maintain its competitive edge in the online lottery market.
Lottery.com Inc. (LTRY) How It Makes Money
Lottery.com Inc. primarily generates revenue by offering users the ability to order official state lottery tickets and other lottery-related products online. The company also earns income through affiliate marketing and other related services.
Lottery.com Inc.'s Revenue Breakdown
As of the fiscal year 2024, Lottery.com's revenue streams can be broken down as follows:
| Revenue Stream | % of Total | Growth Trend |
|---|---|---|
| Lottery Ticket Sales | 65% | Increasing |
| Affiliate Marketing & Other Services | 35% | Stable |
Lottery.com Inc.'s Business Economics
Lottery.com operates within the broader context of the lottery industry, leveraging digital platforms to enhance accessibility and convenience for consumers. Key aspects of its business economics include:
- Pricing Strategy: Lottery.com may charge a small premium on the face value of lottery tickets to cover operational costs and provide a seamless online experience.
- Economic Fundamentals: The demand for lottery products is relatively inelastic, meaning that sales volume is not heavily influenced by minor price changes. This stability allows Lottery.com to maintain consistent revenue streams.
- Cost Structure: The company's cost structure includes expenses related to technology infrastructure, marketing, customer support, and regulatory compliance. Efficient management of these costs is crucial for profitability.
To understand better the core principles that guide the company, check out: Mission Statement, Vision, & Core Values of Lottery.com Inc. (LTRY).
Lottery.com Inc.'s Financial Performance
Analyzing Lottery.com's financial performance involves assessing several key metrics to gauge the company’s overall health and growth trajectory:
- Revenue Growth: Lottery.com has experienced substantial revenue growth in recent years, driven by the increasing adoption of online lottery services. Revenue grew by 150% in fiscal year 2024, reaching $25 million.
- Gross Margin: The company maintains a healthy gross margin of approximately 40%, reflecting its ability to manage the cost of sales effectively.
- Operating Expenses: Operating expenses, including marketing and technology development, represent a significant portion of total expenses. However, these investments are essential for driving future growth.
- Net Income/Loss: Lottery.com reported a net loss of $10 million in fiscal year 2024, primarily due to ongoing investments in expansion and technology.
- Cash Flow: The company’s cash flow from operations remains negative, necessitating external funding to support its growth initiatives.
Lottery.com Inc. (LTRY) Market Position & Future Outlook
As of April 2025, faces a dynamic landscape in the online lottery and gaming sector. Its future success hinges on strategic execution and adaptability to evolving market conditions. For a deeper dive into the company's financials, see: Breaking Down Lottery.com Inc. (LTRY) Financial Health: Key Insights for Investors
Competitive Landscape
| Company | Market Share, % | Key Advantage |
|---|---|---|
| Lottery.com Inc. | Estimated 5% | Focus on digital lottery solutions and partnerships. |
| International Game Technology (IGT) | Estimated 25% | Extensive global presence and diverse lottery offerings. |
| Scientific Games Corporation (Light & Wonder) | Estimated 20% | Innovation in lottery technology and instant games. |
Opportunities & Challenges
| Opportunities | Risks |
|---|---|
| Expansion into new states and international markets, leveraging regulatory changes. | Intense competition from established players and new entrants in the online lottery space. |
| Strategic partnerships with established lottery operators and technology providers. | Regulatory hurdles and compliance costs associated with online gambling licenses. |
| Development of innovative gaming products and technologies to attract a wider audience. | Potential for cybersecurity threats and data breaches impacting user trust and operations. |
Industry Position
strives to solidify its position within the competitive online lottery market. Key aspects of its industry standing include:
- Digital Innovation: Focusing on providing user-friendly digital platforms for lottery games.
- Strategic Partnerships: Collaborating with existing lottery operators to expand its reach.
- Market Expansion: Targeting new jurisdictions as regulations evolve to permit online lottery sales.
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