Who is Lottery.com? (NASDAQ: LTRY)

Who is Lottery.com?

Lottery.com (LTRY ) is a company looking to better the world. It is a company that touts itself not as an industry disruptor, but rather, an innovator. By this, it means that its intentions are not to replace an industry, but to simply bring along the next stage of its evolution.

This company is the result of past endeavours such as AutoLotto. The team behind this venture was the first to gain regulatory approval in the United States to offer legal lottery on a mobile platform. The company works closely with the various regulators to ensure its compliance with state laws.

What is the problem?

Much of the world is in a bad place. Starvation is rampant, animals are going extinct, and there are disease outbreaks and natural disasters to contend with. People want to help, but often don’t know how. People also love to play the lottery. Lotteries represent an industry worth over $70 billion in the United States.

Unfortunately, changes around the taxing of charitable donations are happening. In the past, those that donated to charity would usually receive some form of tax cut. With this gone, those donating will be less inclined to do so. This means an estimated $16-24 billion worth of donations will be lost yearly.

How can the process of charitable-giving become enticing enough to redirect gambled money towards a good cause?

How will they solve it?

On the surface, the concept is simple enough – Gamify charity. To encourage people to take part in charitable donations, Lottery.com has created various lotteries and sweepstakes that serve as charity platforms. By gamifying charity, it is looking to re-direct funds from an isolated gambling industry, and use them for world betterment.

Although those that take part in charitable giving may not receive a tax benefit, by donating they can be entered in a lottery. By structuring its platform in such a way, the company is appealing to a variety of people.

• play the lottery
• give to charity
• take part in both

In order to fund the development of the platform and expand product services, Lottery.com utilized blockchain technology early in its lifecycle. Through the use of blockchain the company hosted an STO in an effort to raise funds. After a successful launch on Securitize.io, lottery.com went on to raise additional funds through the BnkToTheFuture platform.

The company has since transitioned from these early fundraising stages to becoming a publicly traded entity on the Nasdaq.

The Team

Lottery.com has undergone significant leadership changes since its inception. The company is currently led by a new management team focused on stabilizing operations and expanding global reach.

• Matthew McGahan – Chairman & CEO
• Robert Stubblefield – Chief Financial Officer
• Gregory Potts – Chief Operating Officer

What’s Next?

Next is execution and expansion. Following its public listing, Lottery.com has focused on acquisitions and broader market integration. Most notably, the company acquired Sports.com to diversify its offerings into the sports entertainment sector.

It is refreshing to see a company put a positive spin on an industry such as gambling. Instead of distancing itself from it, Lottery.com has embraced it, and developed a platform to use it for good.

For those interested in the platform, Lottery.com currently has mobile apps available for both IOS and Android systems.