17th of July 2013 Author: Ava Jackuard
The Australian online lottery provider Jumbo Interactive, better known for its Australian website Oz Lotteries, is looking for opportunities overseas, and is in particular interested in the U.S., the U.K. and Germany market.
According to a statement issued to Proactive Investors Australia, the company has just been awarded a five year licence in all 16 German provinces, signing so far agreements with three of them: Schleswig-Holstein, Baden Weurttemberg, and Berlin.
Based on growth rates in neighbouring countries, the German Internet lottery market could reach A$2 billion in value within five years, and its largest lottery game EuroJackpot, with a minimum jackpot of Euro 10 million and a maximum of Euro 90 million, can be sold under the Jumbo's licence.
According to its claims, Jumbo is a well-positioned company with 13 years of experience in the business. As is the case in Australia, in a growing German market the company will earn a commission based on tickets sold.
Establishing a beachhead and a customer database of regular players will require an investment of A$2 million to A$3 million, all funded from Jumbo's existing cash reserves and future net cash income.
However, it took Jumbo around two years to achieve an amazing number of 1.5 million clients it has on its accounts in Australia
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