Digitizing the Lottery: How to Partner With The Government w/ Peter Sullivan, CEO of Jackpocket
On today\u2019s episode I sit down with Peter Sullivan, the Founder and CEO of Jackpocket. Jackpocket is digitizing the lottery - allowing everyone to play the lottery from their phone.\n\nPeter shares his epic entrepreneurial tale that I think will one day become startup folklore. He persevered through an extremely long development cycle - during which he put it all on the line - only to emerge with a company that is going to be a unicorn.\n\nI am an investor in Jackpocket so I\u2019ve had the opportunity to watch this journey first hand. I think this is going to be one for the ages.\n\nThe lottery industry is GIGANTIC and states heavily rely on the revenue generated from lottery ticket sales. Roughly 30-40% of every lottery ticket sold goes to state programs, such as education, job creation, veteran care, and outdoor recreation and preservation.\n\n\n\nAs you might suspect, this means dealing with a TON of governmental red tape, which is both a challenge and a great way to create a competitive barrier.\n\nDuring our chat, Peter shares mind blowing stats about the lottery, teaches us how to think about partnering with governments, details his crazy entrepreneurial journey and much more.