Jackpocket is a venture-backed mobile app that allows you to play the lottery directly on a smartphone, eliminating the need to walk to a retail location and purchase a ticket. In recent years, national lottery sales have sagged and Jackpocket recognized an opportunity to create a mobile gaming platform that appeals to both a younger demographic of new players and traditional lottery participants seeking a more convenient way to play.
Jackpocket engaged Kivvit early on as their strategic counsel to help guide them through the challenging regulatory environment, and highly competitive nature of the American gaming industry.
Although state lotteries make up a roughly $80 billion market, it is dominated by a small group of entrenched incumbents. As a result, state laws have been written in ways that often make it difficult for new entrants in the field to emerge. Kivvit developed a strategic road map that Jackpocket is using to evaluate state lotteries across the United States, and the business opportunities they present. This information will help dictate Jackpocket’s plans for future growth.
To date, Kivvit has helped Jackpocket officially launch in New York State, resulting in over $25,000 in sales on their first day after publicly announcing. With more expansion plans on the horizon, Kivvit’s strategic guidance will help Jackpocket maneuver through the unique political and regulatory hurdles associated with a state-by-state growth process.