Lottery Innovator Jackpocket is now moving the excitement of lottery betting from in-person purchases to an online platform and mobile app that offers a variety of lottery games and features, including Powerball and Mega Millions. It is the first third-party app to offer official state lottery tickets—prompting an additional $16 million raise through a Series B round led by Conductive Ventures.
As states are adopting new legislation around sports wagering, lottery distributors recognize the need to innovate gamer technology while abiding by state regulations. Jackpocket meets these needs by partnering with licensed lottery retailers and ensuring each purchased ticket is bought from only registered retailers. The company also ensures the security of the buyer by matching the player’s identity to the ticket serial number.
Once on the app, players can buy tickets for their desired games, check lottery results, join lottery pools with other players, and never miss a drawing through the app’s autoplay tool. Currently, the app is only available in Minnesota and New Hampshire but has plans to expand.
“We invested in the Jackpocket team because they’re going about things in all the right ways—innovating on their proprietary ticket-processing technology, carefully navigating legislative environments that are unique to each state and going through proper channels to operate in a way that makes regulators comfortable, lotteries better funded, and consumers interested in a novel way to play the lottery,” said Conductive Ventures Founding Member and Managing Director Carey Lai.
