STAMFORD, Conn.--(BUSINESS WIRE)--eLOTTERY Inc., a leading provider of web-based retailing and e-commerce marketing services to state and governmental lotteries, announced that it has been awarded a new patent from the U.S. Patent and Trademark Office (USPTO).
“This intellectual property acquisition covers all the ways that state lottery tickets can be sold on the Internet and will allow us to capitalize on an enormous and rapidly emerging e-commerce opportunity”
“This enables us to offer the industry’s most comprehensive e-commerce solution for the sale of these lottery products,” Edwin McGuinn, CEO of eLOTTERY Inc. said. “This intellectual property acquisition covers all the ways that state lottery tickets can be sold on the Internet and will allow us to capitalize on an enormous and rapidly emerging e-commerce opportunity,” McGuinn added.
Prior to this patent award, eLOTTERY held eight other U.S. patents covering the sale of lottery tickets over the Internet via computer terminals and mobile telephones communicating directly to a state’s existing lottery ticket system.
“With the award of this patent (USPTO #8,348,742), we are now able to offer an Internet ticket sales system that communicates via a player’s television set-top box (satellite or cable) to the state’s existing system as well,” McGuinn said.
The company estimates that virtually every state lottery could increase sales by as much as 15 percent – or on a nationwide basis $8.5 billion - based on more than $56 billion in U.S. lottery ticket sales in 2012 – by making their lottery products available online.
“These additional revenues could be used by a state to help fund education and public safety programs, providing a cushion at a time when economic pressures confront most state governments,” McGuinn added.
About eLOT, Inc.
eLOT, Inc. is an application service provider of Internet marketing and e-commerce technology for lotteries and now holds pioneering patents covering Internet lottery technology. In addition to the U.S. patents, the company has been issued e-commerce patents for selling state and governmental lottery tickets in Australia, Canada, China and Norway and has similar patents pending in several other countries.