Last week's $1.6 billion PowerBall draw was an unforgettable day for 3 lucky players, but it also was a boon for the online lotto messenger industry.
Before last week’s $1.6 billion PowerBall lottery draw in the US, it wasn’t a rare occurrence to be standing by a bus stop, sitting on the train or eating in a work cafeteria and overhearing people ask their friends if they had bought tickets for the lottery. But those conversations weren’t limited to the US. Thanks to the growing lotto messenger industry, plenty of people in countries around the world were also participating in the record breaking lottery.
Prior to lotto messenger there had always been a group of non-US players. But, this group was typically limited to ‘some dude who had a relative in the US’ and was buying lots of lotto tickets, and maybe you could trust them to cash out if they win.
The non-US opportunity has grown as lotto messenger providers such as LottoTech and LottoYard, offer technology solutions to purchase tickets. PowerBall Lotto tickets are then purchased on their behalf in the US. Alternatively, the draw is operated synthetically and no actual tickets are purchased, but the lotto messenger company will pay out winnings in the event of numbers matching. In this model, the lotto messenger purchases insurance to cover potential payouts.
A tsunami of demand
Thanks to the back to back PowerBall jackpots that topped at $1.6 billion last Wednesday, the lottery drew massive demand not just domestically but also internationally. For lotto messenger operators, large jackpots such as those that can occur from PowerBall, as well as European based lotteries, are an important driver of interest in their solutions.
Last week’s draw was no exception with Stuart Ballan, Head of Sales of Middle East at Counting House Ltd, a firm that provides payment services to gaming and lottery firms, stating: “If most large jackpots create a wave of activity, this most recent PowerBall Jackpot created a tsunami.”
According to Ballan, industry checks showed sizable gains in activity and new customer signups due to PowerBall, with one firm stating “25x more customers registered in January, compared to normal months”. This sentiment was backed up by Yuval Ganot of LottoYard, whose firm provides lotto messenger technology to companies to operate lottery brands, and cited growing demand for the product.
Ongoing players?
While a large lottery provides awareness for lotto messenger companies and plenty of new customers, the question is, do they stick around? According to Ballan, the reality is that the vast majority of these new players disappear and rarely become ongoing “brand-loyal customers”.
Nonetheless, industry data has shown that these new customers do tend to return for other large jackpots in the future. Ballan explained: “Interestingly, large jackpots also seem to trigger some old, lapsed customers to re-activate”. As such, in terms of new customers arriving for PowerBall and other large draws, the expectation is that “many disappear once the jackpot bubble has been burst, reappearing as the next wave approaches”.
For lottery operators, the conclusion is that the long term value (LTV) of jackpot acquired customers isn’t expected to be a large one. However, the LTV is also directly affected by how well firms are able to reengage customers for future jackpots.
Before last week’s $1.6 billion PowerBall lottery draw in the US, it wasn’t a rare occurrence to be standing by a bus stop, sitting on the train or eating in a work cafeteria and overhearing people ask their friends if they had bought tickets for the lottery. But those conversations weren’t limited to the US. Thanks to the growing lotto messenger industry, plenty of people in countries around the world were also participating in the record breaking lottery.
Prior to lotto messenger there had always been a group of non-US players. But, this group was typically limited to ‘some dude who had a relative in the US’ and was buying lots of lotto tickets, and maybe you could trust them to cash out if they win.
The non-US opportunity has grown as lotto messenger providers such as LottoTech and LottoYard, offer technology solutions to purchase tickets. PowerBall Lotto tickets are then purchased on their behalf in the US. Alternatively, the draw is operated synthetically and no actual tickets are purchased, but the lotto messenger company will pay out winnings in the event of numbers matching. In this model, the lotto messenger purchases insurance to cover potential payouts.
A tsunami of demand
Thanks to the back to back PowerBall jackpots that topped at $1.6 billion last Wednesday, the lottery drew massive demand not just domestically but also internationally. For lotto messenger operators, large jackpots such as those that can occur from PowerBall, as well as European based lotteries, are an important driver of interest in their solutions.
Last week’s draw was no exception with Stuart Ballan, Head of Sales of Middle East at Counting House Ltd, a firm that provides payment services to gaming and lottery firms, stating: “If most large jackpots create a wave of activity, this most recent PowerBall Jackpot created a tsunami.”
According to Ballan, industry checks showed sizable gains in activity and new customer signups due to PowerBall, with one firm stating “25x more customers registered in January, compared to normal months”. This sentiment was backed up by Yuval Ganot of LottoYard, whose firm provides lotto messenger technology to companies to operate lottery brands, and cited growing demand for the product.
Ongoing players?
While a large lottery provides awareness for lotto messenger companies and plenty of new customers, the question is, do they stick around? According to Ballan, the reality is that the vast majority of these new players disappear and rarely become ongoing “brand-loyal customers”.
Nonetheless, industry data has shown that these new customers do tend to return for other large jackpots in the future. Ballan explained: “Interestingly, large jackpots also seem to trigger some old, lapsed customers to re-activate”. As such, in terms of new customers arriving for PowerBall and other large draws, the expectation is that “many disappear once the jackpot bubble has been burst, reappearing as the next wave approaches”.
For lottery operators, the conclusion is that the long term value (LTV) of jackpot acquired customers isn’t expected to be a large one. However, the LTV is also directly affected by how well firms are able to reengage customers for future jackpots.
US Operator of Binary Option Brands Fined $516K for $10M Scam
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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