Former Ladbrokes Australia CEO Set To Launch Online Lottery Business
Last week we reported on Crown Resorts launching their own lottery product called CrownLotto which is aimed at taking a chunk out of Lottoland’s growing market share down under. The popularity of online lottery websites has grown exponentially in the last few years as mega jackpots are appealing to many who want the chance to participate in a life changing sum.
The ability to participate online in any major global lottery whether it be betting on the outcome of the actual lottery itself has proven to be a big draw for punters.
The advantage of online lotteries is that there is mass market appeal and it attracts more than just the hard core gambler. Purchasing lottery tickets is the same for many as purchasing a pint if milk or a newspaper.
With this in mind former Ladbrokes’ CEO Dean Shannon is the latest to dip his feet in the online lottery market. According to the Australian Financial Review Shannon is going to spend $7.95m to market and advertise his new venture.
According to the report he is waiting final approval from the Australian regulators which have been cracking down of late. Points of concern to operators include the consumption of tax on online betting in South Australia, restrictions on betting ads during live sports events and the banning of credit betting. The exact business model of the new lottery product to be offered by Shannon is not clear but it will differ from Lottoland and CrownBet and will feature on his gaming site that will include sports betting and horse racing.
In terms of technology to be used, the report says that platform to be used will be GoLang which was developed at Google in 2017 and is known for its ability to handle high volumes of queries and transactions, Shannon also reportedly plans to expand to other markets like the UK in H1 of 2018 should everything go smoothly.