The Kraft Group, Haslam Sports Group, Michael Rubin, Jason Robins, James Harden, Joel Embiid, Martin Brodeur, Lil Baby, and Several Other Entertainment Industry Notables.
Co-Led the Round, with Investors Including the Kraft Group, Haslam Sports Group, Michael Rubin, Jason Robins, James Harden, Joel Embiid, Martin Brodeur, Lil Baby, and Several Other Entertainment Industry Notables
SAN FRANCISCO, June 22, 2022 — Jackpot, the Okbet online lottery ticket app, and platform, has raised $35 million in a Series A round led by the world’s largest sports, media, and entertainment investors and operators.
Jackpot’s platform will transform the lottery industry in the United States by allowing customers to purchase lottery tickets via mobile app or desktop for the first time.
Accomplice and Courtside Ventures co-led the round, which also included participation from the Kraft Group, Michael Rubin, Haslam Sports Group, Elysian Park Ventures, Arctos Sports Partners, Sapphire Sport, Theo Epstein, Fenway Sports Group President Mike Gordon, DraftKings co-founder and CEO Jason Robins, NBA stars James Harden and Joel Embiid, NHL legend Martin Brodeur, musical artist Lil Baby, and Boston Red Sox President and CEO Sam Kennedy.
Jackpot is a digital platform that allows you to buy official state lottery tickets online. Customers will finally be able to purchase lottery tickets from the comfort of their own homes, thanks to a mobile app or desktop experience.
Jackpot will use the new funds to launch its product in the United States as well as to transform the lottery industry through aggressive hiring, strategic acquisitions, partnerships with state lotteries, and local market expansion.
The $100 billion lottery business in the United States has been mostly offline and cash-based, with little technology and data integration. In 2021, approximately half of all Americans purchased lottery tickets, but only 5% of those sales were made online.
As more states legalize online lottery ticket sales, Jackpot’s proprietary technology provides customers with a best-in-class experience. This new experience will help increase lottery ticket sales in states where the service is available by driving traffic to the lottery as a form of entertainment and introducing the lottery experience to a younger audience that may never have purchased lottery tickets before.
And, with up to 95 cents of every dollar spent on OKbet lottery games going back into the community in the form of contributions to education, healthcare, prizes, and other public initiatives, Jackpot’s mission to create the most user-friendly digital lottery Okbet Games destination is seen as a growth accelerator for positive state spending.
Jackpot’s veteran executive team has a successful track record in the technology, gaming, and licensing industries. Akshay K. Khanna, co-founder and CEO of Jackpot – North America, is an accomplished sports and licensing executive who previously ran StubHub’s North America business and Harris Blitzer Sports & Entertainment’s strategy group; Roi More, co-founder of Gett; and Yariv Ron, a real money gaming industry veteran, lead the team.
“As long-term investors in the real money gaming space, we seek companies with the vision, expertise, and experience to provide real, measurable value. Jackpot possesses all of these characteristics, positioning it perfectly to reimagine the OKbet Online lottery market “said Ryan Moore, Accomplice’s partner.
“Jackpot is a natural fit within our portfolio,” said Courtside Ventures partner Deepen Parikh. “Millions of Americans play the OKbet Online lottery every day, and Jackpot will now improve the experience for customers. We’re excited to collaborate with the Jackpot team to transform this massive industry.”
“More and more states across the country are now opening up to online OKbet lottery ticket sales, creating a huge opportunity to digitize the industry and provide a better, more convenient experience for the hundreds of millions of Americans who buy lottery tickets at Okbet every year,” said Akshay K. Khanna, co-founder and CEO of Jackpot North America.
“Jackpot’s ambition is to become the leading online lottery ticket provider in the United States. We are grateful for our investors’ support, which ill allow us to accelerate our mission to transform the lottery industry.”
Jackpot intends to begin operations in select states in the United States this year. Visit www.jackpot.com for updates on when it will be available in your state.
Jackpot is on a mission to fundamentally change the United States’ $100 billion lottery industry through innovation and variety. Jackpot offers verified, official state lottery tickets online through its digital platform and proprietary technology, allowing customers to play at any time and from any location via a user-friendly mobile app or desktop experience. Visit jackpot.com for more information.