Gaining financial backing from some of the biggest names in the sports industry, Jackpot.com launched January 9 in Texas, where sports betting is not legal yet. Backed by $42 million in funding, backers of this online lottery ticket platform came from some of the USA’s top professional sports franchises. As well, marketing partnerships are in place with the NFL’s Dallas Cowboys, and the NBA’s Houston Rockets and San Antonio Spurs.
Following a $35 million Series A funding round in June 2022, Jackpot.com announced an additional $7 million in funding from some of the biggest names in esports and online gaming, including the Dallas Cowboys, New York Yankees, Aurum Partners (owners of the San Francisco 49ers), the Tisch family (part-owners of the New York Giants), Detroit Venture Partners (led by Dan Gilbert, owner of the Cleveland Cavaliers), and BettorCapital.
How It Works
Jackpot.com will enable Texas players to play the state lottery directly online or through their mobile device of choice. Texans can instantly play Powerball, Mega Millions, Lotto Texas and Texas Two Step and then view scanned copies of their purchased tickets in their account. Jackpot.com ensures eligibility through ID and location verification, notifies players when draws take place and delivers player winnings straight to their account.
“More than half of Americans buy lottery tickets each year, but only a fraction do so online — including in Texas, the country’s third-largest lottery market, Akshay K. Khanna, CEO and Co-Founder of Jackpot.com said in a statement.
The Texas Lottery is the third largest in the United States and had record revenue of more than $8 billion in fiscal year 2022, according to the Texas Lottery Commission. Over the past 30 years, the Texas Lottery has contributed over $35 billion to support public education in Texas.
Supporting Problem Gambling Initiatives
While moving the lottery online, Jackpot.com is instituting measures that will help to prevent the development of problem gambling issues by utilizing new technology to proactively identify problem gambling and making it easy to set limits and find help.
Jackpot.com has invested heavily in responsible gaming safeguards, including standard daily deposit limits, self-ban, self-exclusion, local and national responsible gaming resources, and automatic alerts offering help when risky behavior is detected. As a result of these investments, Jackpot.com launches with certification from the National Council on Problem Gambling.
Jackpot.com TX Bonus
Are there any promotions? Currently, Jackpot.com in Texas does not run any bonuses for new and existing customers, but we expect the situation will change and promo codes become available in the near future.
