Lottery.com also deploys portion of $30 million of cash received from previously announced sale of prepaid advertising credits to launch B2C marketing campaigns
AUSTIN, Texas, Feb. 01, 2022 (GLOBE NEWSWIRE) — Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (Lottery.com or the Company), a leading technology company that is transforming how, where and when the lottery is played, announced that it has launched LotteryLink, an important branding initiative of its global B2B affiliate marketing. This branding is a continuation of Lottery.coms strategy to utilize highly recognizable and descriptive names and domains to reach its global digital audience and leverage the Companys strong affiliate marketing capabilities.
The Company has a pipeline of both online and physical affiliates it anticipates will be important contributors to LotteryLink in 2022. As an example, one of its master affiliates has developed a customized program specifically focused on brick-and-mortar retailers promoting their customers purchase of Lottery.com products. A pilot of this program was launched in December 2021 with one of the nations largest grocery retailers.
Additionally, the Company launched B2C customer marketing campaigns in December 2021. With a focus on leveraging Lottery.coms recognizable brand, these campaigns are utilizing multiple media channels, including targeted digital ads and search engine optimization to reach new users. An example of these ads can be viewed here. The Company is funding these campaigns with cash on hand, including $30 million received from the previously announced sale of prepaid advertising credits in the third quarter of 2021. The Company expects to drive B2C user growth in 2022 with this direct-to-consumer marketing in addition to growth generated by LotteryLink.
We are aggressively working to grow our user base while maintaining a sharp focus on capital discipline, said Tony DiMatteo, CEO and Co-Founder of Lottery.com. I believe that the combination of LotteryLinks ability to expand our user base with limited marketing spend and our favorable customer acquisition costs in our B2C segment puts us in a position to grow profitability. Todays announcement is an example of the consistent progress we are making on our growth initiatives. We remain focused on the continued execution of our strategic plan.
Lottery.com is a leading technology company that is transforming how, where and when lottery is played. Its engaging mobile and online platforms enable players located in the United States and internationally to remotely purchase legally sanctioned lottery games. Fans and subscribers look to Lottery.com for compelling, real-time results on more than 800 lottery games from more than 40 countries. Additionally, commercial partners and affiliates can utilize LotteryLink to provide Lottery.com products to their customers. Through WinTogether.org, Lottery.com is fundamentally changing how non-profit donors are incentivized to action by gamifying charitable giving. In all that it does, Lottery.coms mission remains the same: an uncompromising passion to innovate, grow a new demographic of enthusiasts, deliver responsible and trusted solutions, and promote community and philanthropic initiatives. For more information, visit http://www.lottery.com.
Important Notice Regarding Forward-Looking Statements
This press release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). All statements, other than statements of present or historical fact included in this press release, regarding the Lottery.coms strategy, future operations, revenue guidance, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words could, should, will, may, believe, anticipate, intend, estimate, expect, project, the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on managements current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Lottery.com disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Lottery.com cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Lottery.com. In addition, Lottery.com cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) the outcome of any legal proceedings that may be instituted against Lottery.com; (ii) Lottery.coms ability to maintain effective internal controls over financial reporting, including the remediation of identified material weaknesses in internal control over financial reporting relating to segregation of duties with respect to, and access controls to, its financial record keeping system, and Lottery.coms accounting staffing levels; (iii) the effects of competition on Lottery.coms future business; (iv) risks related to Lottery.coms dependence on its intellectual property and the risk that Lottery.coms technology could have undetected defects or errors; (v) changes in applicable laws or regulations; (vi) risks related to the COVID-19 pandemic and its effect directly on Lottery.com and the economy generally; (vii) risks relating to privacy and data protection laws, privacy or data breaches, or the loss of data; (viii) the possibility that Lottery.com may be adversely affected by other economic, business, and/or competitive factors; (ix) the ability of Lottery.com to achieve its strategic and growth objectives as stated or at all; and (x) those factors discussed under the heading Risk Factors in the Form S-1 filed by Lottery.com with the SEC on November 18, 2021, and the other documents filed, or to be filed, by Lottery.com with the SEC. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that Lottery.com has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SECs website at www.sec.gov.
VP, Investor Relations