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Lottery(LTRY) - 2022 Q4 - Annual Report
2023-06-15 21:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number 001-38508 LOTTERY.COM INC. (Exact name of registrant as specified in its Charter) | Delaware | 81 ...
Lottery(LTRY) - 2022 Q3 - Quarterly Report
2023-05-24 21:26
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _________________ Commission File Number: 001-38508 Lottery.com Inc. (Exact name of registrant as specified in its charter) | Delaware ...
Lottery(LTRY) - 2022 Q2 - Quarterly Report
2023-05-22 10:04
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _________________ Commission File Number: 001-38508 Lottery.com Inc. (Exact name of registrant as specified in its charter) | Delaware | 81- ...
Lottery(LTRY) - 2022 Q1 - Quarterly Report
2022-05-16 20:59
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED _______________ Securities registered pursuant to Section 12(b) of the Act: Lottery.com Inc. (Exact name of registrant as specified in its charter) 001-38508 (Commission ...
Lottery(LTRY) - 2022 Q1 - Earnings Call Transcript
2022-05-16 17:27
Lottery.com Inc. (NASDAQ:LTRY) Q1 2022 Earnings Conference Call May 16, 2022 8:30 AM ET Company Participants Matt Schlarb - Vice President of Investor Relations Tony DiMatteo - Co-founder & Chief Executive Officer Ryan Dickinson - President & Chief Financial Officer Conference Call Participants Brian Dobson - Chardan Capital Operator Hello and welcome to Lottery.com's First Quarter 2022 Earnings Conference Call. This is Jesse and I'll be your operator for today's call. [Operator Instructions] Now, I'd like ...
Lottery(LTRY) - 2021 Q4 - Annual Report
2022-04-01 10:31
Market Overview - The global lottery market was valued at $318 billion in gross sales in 2020, with a forecast to exceed $550 billion by 2025[37]. - In 2021, total U.S. lottery sales increased to $106 billion, reflecting a 17% increase compared to 2020, with instant ticket sales rising 13% to $72 billion and draw-based sales increasing by 24% to $33 billion[54]. - Online Lottery gross sales in the U.S. increased more than 28% year-on-year to $5.1 billion in 2021, representing approximately 5% of total U.S. lottery game sales[59]. - Sales of draw lottery games comprised 54.5% of the overall global lottery market in 2020, anticipated to grow at approximately 9.0% CAGR from $194 billion in 2020 to nearly $300 billion in 2025[42]. - Scratch lottery games accounted for 26.6% of the global lottery market in 2020, expected to increase approximately 58% from $95 billion in 2020 to $150 billion in 2025[44]. - Sports lottery games represented 18.9% of the global lottery market in 2020, projected to grow approximately 51% from $67 billion in 2020 to $101 billion in 2025[49]. - The Asia-Pacific region held a 37.1% market share of all lottery sales in 2020, while Europe accounted for 31.9%[52]. - The U.S. total sports betting market, including sports lottery betting, had gross sales of $57.7 billion in 2021, an increase of 167% from 2020[55]. - The estimated lottery game market in Latin America was approximately $9.1 billion across 26 countries as of December 31, 2020, with a total addressable market of 664 million people[121]. Company Operations and Revenue - The company derives revenue primarily from service fees on its B2C Platform, LotteryLink Credits sales, revenue share from B2B API partners, and Data Service subscriptions[17]. - As of December 31, 2021, the B2C Platform was available in 12 U.S. jurisdictions and multiple international jurisdictions[20]. - The company completed the acquisition of the domain name https://sports.com in December 2021, aiming to enter legal sports gaming verticals[17]. - The company launched its affiliate marketing program, LotteryLink, in Q3 2021, compensating affiliates for new customer referrals[27]. - The company provides daily lottery results from over 40 countries to more than 400 digital publishers and media organizations[35]. - The company holds a retail lottery license issued by the Texas Lottery Commission[25]. - The B2B API allows commercial partners to access legally operated lottery games for resale, with revenue sharing on each lottery game purchased[31]. - The company delivered approximately 2.6 million lottery games to users of the B2C Platform worldwide in 2021, with an average of 37,000 daily users[75]. - In 2021, the company delivered over 333,485 lottery games to end users through its B2B API, with agreements in place with three international and one U.S. commercial partner[86]. - The company sold approximately 2.9 million unique lottery games in 2021, representing a 123% year-over-year increase from 1.3 million in 2020[103]. - As of December 31, 2021, the company generated more than $7.2 million in lottery game sales across 12 jurisdictions in the U.S., which represented less than 0.1% of total U.S. lottery game sales[112]. Technology and Innovation - The company is exploring opportunities to enhance its technology, including distributed ledger technology[17]. - The company is developing Project Nexus, a proprietary blockchain-enabled online gaming platform, expected to handle high levels of user traffic and transaction volume while ensuring security and reliability[126]. - The company anticipates launching a fee-based subscription service for exclusive lottery game pools and premium lottery prediction data, which is expected to attract new users[124]. - The company aims to leverage distributed ledger technology to enhance the security and transparency of its platform, ensuring that all transaction data is immutable and resistant to cyber-attacks[130]. Marketing and User Acquisition - The average customer acquisition cost per new user remained unchanged at $4.26 in 2021, with no digital marketing expenses incurred[74]. - The company launched its global affiliate marketing program, LotteryLink, in Q3 2021 to attract new customers and convert them to ongoing users[77]. - The average customer acquisition cost since 2020 is $4.01 per new user, which may increase due to new marketing campaigns launched in early 2022[138]. - The company aims to attract and retain users through sophisticated marketing efforts, which may increase costs and affect return on investment[187]. Compliance and Regulatory Environment - The company is committed to compliance with underage and responsible gambling requirements, with know-your-customer measures in place to prevent minors from using its services[161]. - The company is developing a comprehensive internal compliance program and has hired a Vice President of Compliance to ensure adherence to legal requirements[163]. - The company has not faced any legal claims related to lottery prize distribution since its inception, indicating strong compliance and operational integrity[134]. - The company is subject to evolving regulations in internet gaming, which could impact its strategy and operations[208]. - The company is monitoring the potential impact of the 2019 Opinion regarding the Wire Act, which could affect its operations if interpreted to apply to lottery games[150]. Financial Performance - The company experienced net losses of approximately $9.30 million for the year ended December 31, 2021, with an accumulated deficit of approximately $104.44 million as of the same date[198]. - The company anticipates an increase in operating expenses as it continues to invest in future growth, which may negatively affect results if total revenue does not increase correspondingly[199]. - Economic downturns and inflation could adversely affect the company's business, financial condition, and results of operations, as seen during the 2008 financial crisis[180]. Competitive Landscape - The company is subject to intense competition in the global entertainment and gaming industries, which could negatively impact its market share and financial performance[177]. - The company expects to face intense competition in the internet gaming sector, which may hinder its ability to offer technology and services effectively[209]. - The company believes that competition for new users will remain low due to significant growth potential in the online lottery segment[139]. - The company believes that its competitive advantage lies in its brand name, proprietary technology, and synergies from its various platforms[139]. Employee and Organizational Development - As of December 31, 2021, the company had a total of 43 full-time employees, an increase from 20 in 2020, and 7 part-time employees, up from 5 in 2020[165]. - The company is developing learning functionality to enhance employee skills in line with business requirements and compliance best practices[168]. Risks and Challenges - The company faces risks related to negative public perception of lottery games, which could impact user retention and revenue[185]. - The company faces risks related to corporate social responsibility and reputation, which could materially affect its business if not managed properly[195]. - The company operates in a public-facing industry where negative publicity can rapidly affect its brand and revenue[214]. - The company has registered domain names critical to its business, and losing access to these could incur significant costs and harm its brand[192]. - The company must continually invest in product development to maintain market acceptance and attract users, as failure to do so could lead to decreased revenues[204].
Lottery(LTRY) - 2021 Q4 - Earnings Call Presentation
2022-03-31 18:46
| --- | --- | --- | --- | --- | |-------|---------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | comttery | | | | | | | | | | | | | | | | | | INVESTOR PRESENTATION March 2022 Nasdaq: LTRY | | | | DISCLAIMER RIDER Th is investor presentation ((the "presentation") is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recom any equity, debtor other financial instru ...
Lottery(LTRY) - 2021 Q4 - Earnings Call Transcript
2022-03-31 17:18
Lottery.com Inc. (NASDAQ:LTRY) Q4 2021 Earnings Conference Call March 31, 2022 8:30 AM ET Company Participants Matthew Schlarb - VP Investor Relations Tony DiMatteo - Co-founder and CEO Ryan Dickinson - President and CFO Katie Lever - Chief Legal Officer and COO Conference Call Participants Operator Good day ladies and gentlemen, and welcome to the Lottery.com Fourth Quarter and Full Year 2021 Conference Call. [Operator Instructions] As a reminder, this conference may be recorded. I would now like to introd ...
Lottery(LTRY) - 2021 Q3 - Quarterly Report
2021-11-15 21:49
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38508 Lottery.com Inc. (Exact name of registrant as specified in its charter) Delaware 81-1996183 (State or other jurisdiction ...
Lottery(LTRY) - 2021 Q2 - Quarterly Report
2021-08-16 20:41
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (State or other jurisdiction of incorporation or organization) FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38508 TRIDENT ACQUISITIONS CORP. (Exact name of registrant as specifi ...