You must have heard of Jackpocket if you are a frequent buyer of lottery tickets. Recently, the application has unveiled a secure channel through which people who are interested in buying lottery tickets can do so from the comfort of the internet.
Lotteries are as old as human civilization – most of them are used as fund raising drives for charities and various goodwill foundations. To win a lottery means that your life has been transformed instantly courtesy of the riches you suddenly have available to you. It is no wonder that the lottery continues to have millions of fans irrespective of the many casino businesses getting established every year; Jackpocket has decided to reinvent its mode of operation.
The company has made an announcement to inform their fans in New Jersey that they will now be able to buy their lottery tickets online. This announcement comes at a time when the app has an upcoming casino product which they will be selling through Caesars Interactive Entertainment New Jersey, LLC.
Jackpocket already has operations in 10 US states which include New York, Texas and New Jersey. With their license to operate in New Jersey already secured, Jackpocket is the first lottery service provider to offer online casino tickets as a third party player. It is no surprise that the company officials chose the Garden State since it has within a very short time grown to become one of the best performing gambling markets in the US.
According to the CEO of Jackpocket, Peter Sullivan, the company had laid out its expansion mission with an aim of penetrating emerging markets in the US economy. They recently allocated $120M for their Series D financing and the management decided to channel these funds to set up in New Jersey. Sullivan is confident that the introduction of online lottery tickets will provide casino players with new ways of testing their luck.
For players who love the thrill associated with playing Bingo, table games and the slots but are unable to engage for whatever reason can now participate in the action through purchase of lottery tickets. It is as easy as buying a ticket and waiting for the systems to generate a winner – if the ticket number generated matches what you bought, you are entitled to a cash prize.
As per data collected by Jackpocket when researching the viability of the product they have just launched, the company discovered that there was a huge correlation between those casino players who played the lottery and those that found thrill in playing casino games. The company’s Chief Executive Officer is eager to see how this new business move will grow in the future. Since they have an innovative tech team that prides in intuition and experience, there is no doubt that the Jackpocket app will earn a good reputation in this new arena.
It is a good thing that the management of Jackpocket has broken the news of its new business operations before actual trading begins so as to alert their customers. It is expected that the actual proprietary product will be hitting the market some time in 2022. For now, the company is concerned about finalizing the process of gaining approval from the New Jersey Division of Gaming Enforcement.
Expanding business operations is a complex process and especially when it involves penetrating a new market. The management team at Jackpocket however seem to have everything under control; they have announced various vacancies on their websites. Most of the advertised roles are new and meant to help the company as it warms up to a new market.
As one might guess, most of the positions being sort are technology based. The nature of the New Jersey operations requires a digital operations team that will be responsible for delivering iGaming products to casino players. This is an opportunity for gaming developers to join the exciting world of casino entertainment – the market needs fresh content every time.
A few weeks prior to breaking the news that they had secured the New Jersey license, Jackpocket announced that they had managed to put together $120M Series D funding for impending expansion. At the same time, the company established an operations base in Santa Barbara which they use as a second headquarter. This is a unique idea for monitoring everything they have going in the entire US market.
Even though New Jersey will be hosting an online version of Jackpocket starting from 2022, that will not be the first time that NJ gambling enthusiasts get to experience the thrill of the lottery. In October 2021, a resident of New Jersey bought a lottery ticket through the Jackpocket app which went on to win $9.4M. This is the highest amount of money so far that has been won from mobile gaming in the history of US gambling.
The rapid growth experienced in the NJ market by established betting brands must be the reason why Jackpocket earmarked this market for its expansion plan. The market has done quite well in the face of severe competition and so the entry of a brand new player offering a unique product will definitely stir positive results. It is obvious that this market is big enough for as many products as set up operations in the state.
Final Thoughts
Queuing at a physical shop to purchase a lottery ticket is soon going to be a thing of the past. It makes sense that the lottery business continues to thrive many years after it was first spoken about. Honestly, this is one of the many operations that will never be done away with. The thrill is however not just happening in NJ but in the rest of the world as well. The greatest selling point of the lottery business is a burning desire to give back to the community and many people will want to be a part of it.
