Jumbo Interactive Sees Revenue Soar on Strong Lottery Sales

The leading Australian lottery company, Jumbo Interactive, experienced a revenue surge of 29%, reaching AU$52.8 million (US$38.1 million) during the initial six months of their 2022 financial year.

This remarkable expansion was driven by a significant rise in lottery purchases, especially for games featuring substantial prizes such as Powerball and Oz Lotto. Jumbo, responsible for managing several of Australia’s most favored online lottery platforms, witnessed its overall transaction worth climb by 41%, approaching AU$3.28 billion.

Although conventional lottery sales continue to be Jumbo’s primary source of income, the company is making notable progress in its emerging software and service sectors. Revenue generated from these areas is increasing at a swift rate, surpassing 100% in certain instances. This accomplishment is partially attributed to a significant collaboration Jumbo established with Lotterywest, a well-known Australian lottery provider.

Jumbo’s Chief Executive Officer, Mike Veverka, conveyed considerable contentment with the company’s achievements, emphasizing the “favorable momentum” observed across all their operations. The increase in large prize amounts, with 23 Powerball/Oz Lotto jackpots exceeding AU$15 million in the first half of 2022 compared to 15 during the corresponding period the previous year, undoubtedly played a role in this triumph. Furthermore, the typical sum of these jackpots also rose, further stimulating enthusiasm and engagement among those who partake in lotteries.

Ticket revenue remained robust, boosted by larger prize pools and our commitment to ensuring player satisfaction and continued engagement.

“Concurrently, our enterprise software and backend solutions are experiencing steady, organic expansion – all our Australian software customers have now fully transitioned.”