HeadsUp Entertainment has assumed full control of the LotteryHub platform and announced a number of new partnerships worldwide in order to expand the brand globally.
LotteryHub has served more than four million American users as a lottery information platform, but HeadsUp is now keen to position it as the leader of online sales for state and national lotteries.
Partnerships have already been secured in Peru, Brazil, Mexico, Eastern Europe and Eastern Africa (including Nigeria), and HeadsUp has ongoing discussions to enable national and state lottery partners to enhance their online presence and sell official tickets across the world.
These new agreements enable LotteryHub access to an immediate 120 million international customer base upon release of existing partnerships.
Last year, the US lottery market generated $94.9bn in revenue from lottery ticket sales, and the global lottery market currently generates approximately $350bn in revenues. This is forecasted to grow to $450bn by 2027.
LotteryHub is being readied to assist lottery partners in their online growth strategy with its integrated digital portal as a digital lottery concierge service, and is aiming to improve its current offering by expanding its offering into online sales across various US state markets as regulations change over the coming years, improving its market share as it moves into new markets.
HeadsUp plans to transform the platform into a ‘full-fledged online retailer’, enabling all states to participate in the sale of their games and products online in a safe and secure environment over time as legislation changes.
Doug Wilson, HeadsUp President and CEO, explained: “Access for global lottery operators utilise software such as LotteryHub is huge for all of our partners and in times of recession and tough economic conditions, the lottery and gaming sectors see unprecedented growth in market size and the ability for the HeadsUp line of products and services fast tracks the path to massive revenues.”
This latest acquisition by HeadsUp is designed to support a larger acquisition strategy of global gaming assets, and the company is in the closing stages of some deals.
The business model and corporate finance strategy has been designed by HeadsUp Chief Business Development Officer Mark Hutchinson.
He said: “My decades of working in the lottery business have come to an incredible moment where new regulatory opportunities, technology and a global network of business relationships are converging to position HeadsUp to aggressively acquire strategic assets, close sales and distribution agreements and make a substantial amount of money in the business.
“When the market realises what we have built, I believe this company will experience massive growth that will translate into enhanced shareholder value that I am very proud to help create along with this exceptional management team.
“This is a perfect example of the right people, with the right products at the right time.”