CrownBet’s new launch is set to compete for the market share in Australia with Lottoland.
Australia.- Crown Resorts and CrownBet are set to launch a new online lottery in Australia this week. The companies are seeking a portion of the dominating company Lottoland and then complete with Tatts Group digital lottery ticket sales.
CrownLotto will be run by CrownBet, which is mainly owned by billionaire James Packer of Crown Resorts, and will be in direct competition with foreign-owned Lottoland. The former makes at least US$1 million revenue a week, the Australian Financial Review reported. Customers will bet on the outcome of the lottery, instead of buying a ticket for the lottery itself.
“We’re launching these products to meet the clear and growing customer demand that is driven by huge jackpots in overseas draws,” said a spokesman for CrownBet. The company will direct some of the money earned from lottery to community causes, the news outlet informed. “Lottery wagering attracts a different demographic and will grow overall interest in lotteries, rather than competing with traditional physical lotteries,” added the company.