US-based lottery technology and courier firm Lottery.com is looking to enter European and Asian markets. The company has provided more details on its expansion plans, although it has not specifically stated which “key European and Asian markets” it is targeting.
However, its long-term ambitions and expectations are clear. Lottery.com says it expects to generate immediate revenue and establish a “clear path” for further global expansion by strengthening its presence in Eurasia.
According to a recent announcement, interested parties in monitoring the company’s progress on this matter will not have to wait long, as the company plans to enter several Eurasian markets as early as the end of March.
Matthew McGahan, Chairman and CEO of Lottery.com, said: “We are thrilled to relaunch Lottery.com’s brand and platform to new consumers and markets, starting with our initial expansion into multiple countries in Europe and Asia.
“This marks a strategic step outside of the US, paving the way for our global ambition – to offer communities worldwide a unified lottery solution.”
Lottery.com has established itself in the US as one of the country’s largest lottery apps, providing customers with a service to purchase tickets and other state lottery products that are mostly limited to retail.
Currently, courier services face some regulatory challenges in the US, as several state governments increasingly view these services as a form of gambling and regulate them accordingly.
The increasingly stringent regulatory environment may have prompted Lottery.com to look east for new markets and revenue sources. However, the value of the European and Asian lottery space should not be underestimated either.
Lottery.com noted that of the $300 billion-plus global lottery industry, the European and Asian markets are estimated to account for $118.75 billion and $5.1 billion, respectively, in 2024.
The company says its strategic expansion will focus on key jurisdictions on both continents with “innovative lottery solutions”, while it is also investing in a cutting-edge lottery technology platform designed to meet the diverse and complex requirements of international markets.
“Our expansion into international markets is a major milestone for Lottery.com and represents the next phase of the Company’s growth strategy,” said Gregory Potts, Chief Operating Officer of Lottery.com.
“By leveraging our investments in lottery technology and deep industry expertise, we are well-positioned to meet the demands of new players and partners worldwide. We are excited about the opportunities ahead and look forward to delivering innovative lottery experiences to global audiences.”
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