Jackpocket, the mobile app that allows users to purchase state lottery tickets through their mobile devices, has secured market access for online casino operations through Caesars Entertainment in New Jersey.
It will be the first, third-party lottery product to launch an online casino in the state.
“Following our recent $120M Series D financing, Jackpocket’s mission is to expand into new gaming verticals, and we are confident that lottery fans will be interested in new ways to play including slots, bingo, and table games,” Jackpocket CEO Peter Sullivan said.
“Our user research has shown a high correlation between Jackpocket lottery players and those who enjoy casino-style gaming. We look forward to bringing the innovative tech, intuitive design, and seamless experience that the Jackpocket app is known for into this new arena.”
The Jackpocket lottery app runs in 10 states, including New York and Texas as well as New Jersey. The operator says there is still “work to do” on this latest venture, but it intends to go live with the casino in 2022, once it has gained approval from the New Jersey Division of Gaming Enforcement.
Jackpocket Expanding at a Phenomenal Rate
It has been an extremely busy few months for the company. In September, it was unveiled as the official Digital Lottery Courier of the New York Jets. This marked the first digital lottery sponsorship of any NFL team. Jackpocket is also the official mobile lottery partner of NHL’s New York Islanders.
A few weeks after the big Jets announcement, on October 21, a New Jersey woman won a $9.4 million lottery prize via the Jackpocket app. It was the biggest mobile gaming win ever in the US.
Last month, Jackpocket announced it had raised $120 million in Series D funding in order to support its rapid growth.
When the company announced that it had raised the $120 million, there were already hints that Jackpocket was planning to branch out, with a blog post which said, somewhat cryptically, “New partnerships and other exciting announcements are on the horizon.”
Sullivan added to the speculation, saying that Jackpocket would “use this funding to continue to grow and innovate the platform with new types of gameplay.
To facilitate its expansion, Jackpocket is currently hiring for several new posts, including VP of interactive Gaming. Interested parties can find full information on the Careers page of Jackpocket’s website.
Online Casino Space Looking Healthy in NJ
It definitely seems to be a good time to get into the NJ online casino market.
Revenue has hit monthly highs five times this year, including the last two consecutively recorded months. October’s new high, $124.6 million, was 3.7% up on September’s figures and 37% up year-on-year ($90.9 million).
The Borgata licensees (BetMGM, Borgata, partycasino, and Pala) had a particularly good 12 months, up an incredible 77.5% on the previous year, grossing $37.9 million.
Golden Nugget (including FanDuel, PlaySugarHouse, and others) were close behind, generating $34.5 million, with Resorts (PokerStars, DraftKings and Barstool) rounding off the top three with $28.7 million.
The Jackpocket lottery app is available for iOS and Android devices and can be downloaded from the App Store or Google Play.
