500.com-owned lottery betting provider Lotto Warehouse has agreed a deal with Gaming Innovation Group (GiG) to serve as the exclusive games provider for new startup MegaLotto.
GiG is entering the lottery vertical for the first time through a long-term platform supply deal with MegaLotto, with Lotto Warehouse serving as the exclusive games provider for the new Optimizer Invest-backed lottery betting brand.
The site will offer customers bets on the outcome of more than 30 of the largest lotteries in the world.
“Our latest partnership with GiG is yet another example of the increased demand we are seeing for lotto products,” said Lotto Warehouse sales manager Katarina Lilja. “Customers want variety and operators are recognising the huge potential of this exciting new vertical.”
GiG chief commercial officer Ben Clemes added: "I am delighted to add further growth potential for GiG by entering the lottery vertical. 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."
Shares in 500.com Ltd (NYQ:WBAI) closed in New York Wednesday up 6.80 per cent at $10.36 per share, while shares in Gaming Innovation Group Inc. (OSL:GIG) were trading down 1.99 per cent at NOK19.70 per share in Oslo Thursday morning.