Meet Jackpocket, The Mobile App Winning Big In The $83 Billion U.S. Lottery Market

Pete Sullivan's grandmother was a lottery player in Brooklyn. His father and grandfather were also gamblers. Pete's dad bought a Pick 3 and Pick 4 ticket every day before getting to work in the Bronx. He would talk about the lottery a lot. Pete grew up annoyed with the Lottery.

Jackpocket has raised nearly $200 million from investors. The company is currently valued at $620 million. It is a highly regulated industry. In 2020, $83 billion was spent on lottery tickets across the 45 states that operate them. Jackpocket is an app that sells lottery ticket in the form of a scan. If a player wins more than $600, they can send the ticket to the app to cash it in. The app is legal in seven states. Bill Pascrell, a partner at Princeton Public Affairs Group, lobbied New Jersey to pass a law that allows third-party companies to sell lottery Tickets online.

Jackpocket is a mobile app that is winning big in the $83 billion U.S. lottery market.