- GiG partners with MegaLotto to enter the lotteries vertical
- The companies will launch their offer in mid-2019
- GiG will see results at the end of 2019
Gaming Innovation Group, an established iGaming company, is preparing to expand into a new vertical – lotteries. The company has already struck up a deal with MegaLotto, an up-and-coming start-up.
GiG Inks Deal for the Future of Lottery Vertical
The Gaming Innovation Group (GiG) will work along with MegaLotto in order to create a polished lottery experience for international customers. The lottery portal will include a number of casino games in a bid to appeal to an international audience as well as expand into many unrelated markets.
Establishing a global footprint will be a top priority for the companies, which will be pushing ahead with a quick launch in the summer of 2019. Because of the rather delayed launch, revenue will remain largely unaffected for GiG in 2019 following the partnership. With GiG and MegaLotto gearing up to launch in full, there is still the question of which markets the company will operate in.
GiG has already entered the United States thanks to its partnership with Hard Rock casino in October, 2018. Later in November the same year, GiG tied up another partnership with casino games aggregator Join Games.
As to the specific deal with MegaLotto, GiG CCO Ben Clemes expressed his satisfaction with the developments, noting the following:
I am delighted to add further growth potential for GiG by entering the Lottery vertical with MegaLotto. We share the same ambitions of a fun, fair, responsible and innovative user experience.
Lotteries is the sole missing verticals which GiG is now happy to offer to its customers worldwide. Having obtained a license in the newly-regulated Swedish market, GiG may be pushing ahead with introducing lotteries in Europe, as it’s one of the primary markets for the activity.
However, places like Germany can prove too restrictive, given the adamant local opposition and favorism towards national totalizators.
Expanding into Lotteries – A Healthy New Opportunity
The expansion into the lottery vertical, however, is not at all surprising, following last year’s Q3 earning call when CEO Robin Reed spoke of the healthy pipeline opportunities ahead of the company. Apart from working with the Hardrock brand, GiG has also been selected to deliver the sports betting software for MRG and Gamingzone.
Growing the sports betting business is a priority for GiG which will now be nicely complemented with the expansion of the lottery vertical. In the United States, different states see the point of maintaining their lottery operations scaling. In fact, lotteries are one of the main reasons why he infamous Wire Act doesn’t apply to some forms of gambling products, with New York challenging the motion back in 2018.
Now that GiG has eyes set on lotteries, the company is about to monetize on a new sector. How successful its efforts will only become clear towards the end of 2019 or later in 2020.