GiG makes first move into lottery vertical
iGaming software provider Gaming Innovation Group (GiG) is to expand its service offering into the lottery market for the first time after agreeing a long-term partnership with lotto betting start-up MegaLotto.
Through the deal, GiG and MegaLotto will work together to offer odds on international lottery draws, as well as casino games, in multiple markets.
The two companies plan to launch the new offering in mid-2019, and as such it will only have a limited impact on GiG’s revenue for the year. GiG did not specify which markets MegaLotto plans to target when going live.
“I am delighted to add further growth potential for GiG by entering the Lottery vertical with MegaLotto," GiG chief commercial officer Ben Clemes said. "We share the same ambitions of a fun, fair, responsible and innovative user experience.
“GiG covers all verticals in iGaming, by adding lottery to our games vertical, we are strengthening our competitive advantage as a global full service provider,” he added.
MegaLotto was established with funding from Optimizer Invest, an investment vehicle focused on the iGaming, fintech and lead generation sectors.
Speaking about the GiG partnership, Optimizer Invest chief executive Petter Moldenius said: “This is an important project and we are confident GiG is the right partner for us to grow this business into a big player in the industry.”
GiG’s expansion into the lottery market comes after CEO Robin Reed said following the company’s Q3 results announcement in November that the business has an “increasingly healthy pipeline of opportunities” to consider as part of its wider growth plans.
GiG is also seeking moves into new regions having last month applied for B2B and B2C licences in Spain. The B2B licence would apply to its technical platform, while the B2C licence would cover online casino and sports betting services offered via its stable of proprietary brands.
Image: Santeri Viinamäki