Nasdaq:LTRY
Lottery.com Announces Strong Third Quarter Results and Year-to-Date Revenue Increase of $42.8 Million Over Prior-Year Period
Third quarter 2021 revenue of $32.2 million and net income of $11.2 million
Strong growth in user transaction profitability
AUSTIN, Texas, Nov. 15, 2021 (GLOBE NEWSWIRE) — Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or the “Company”), a leading technology company that is transforming how, where and when lottery is played, reported financial results for the third quarter ended September 30, 2021. These results were achieved prior to the closing of the Company’s business combination with Trident Acquisitions Corp. on October 29, 2021. The Company’s unaudited financial statements for the third quarter of 2021 and other information have been filed in a Current Report on Form 8-K/A today with the U.S. Securities and Exchange Commission (“SEC”).
Tony DiMatteo, Lottery.com Co-Founder and CEO, commented, “We are proud of the strong revenue and profitability growth we achieved in the third quarter. While we were working toward the completion of our business combination, we acted decisively to advance our plans for our global affiliate program and monetize one of our assets by leveraging a B2B partner relationship. The start of this program provided increased revenue in the third quarter and is an essential building block of our B2B2C strategy, which we expect will lead to an increased user base and additional revenue from those end users going forward. Additionally, the implementation of a dynamic pricing model and improvements to our app, such as push notifications, contributed to strong growth in gross profit per transaction compared to the prior year period.”
Mr. DiMatteo continued, “Now that we have successfully completed our business combination, we are focused on utilizing the proceeds we realized from the transaction, along with our third quarter profits, to accelerate our targeted user marketing campaigns, enter new markets, expand our product offerings, and execute strategic and synergistic acquisitions. With our low customer acquisition costs, large addressable markets and leading brands, we look forward to realizing the profitable growth opportunities before us.”
Third Quarter 2021 Results
| Q3 2021 Financial Highlights | Three Months Ended | ||||||||||||
| September 30, | |||||||||||||
| 2021 | 2020 | Change | |||||||||||
| (in millions, except percentages; unaudited) | |||||||||||||
| Revenues | $ | 32.2 | $ | 1.6 | $ | 30.6 | |||||||
| Gross Profit | $ | 20.3 | $ | 0.9 | $ | 19.4 | |||||||
| Gross Margin | 63.0 | % | 54.9 | % | 8.1 | % | |||||||
| Net Income | $ | 11.2 | $ | (1.2 | ) | $ | 12.3 | ||||||
| Q3 2021 User Metrics (1) | |
Three Months Ended | |||||||||||
| September 30, | |||||||||||||
| 2021 | 2020 | Change | |||||||||||
| Transactions per user | 12.4 | 11.2 | 1.2 | ||||||||||
| Tickets per transaction | 3.8 | 3.5 | 0.3 | ||||||||||
| Revenue per transaction | $ | 9.52 | $ | 8.20 | $ | 1.32 | |||||||
| Gross profit per transaction | $ | 1.69 | $ | 0.93 | $ | 0.76 | |||||||
| Gross margin per transaction | 17.8 | % | 11.3 | % | 6.4 | % | |||||||
| (1) Excludes B2B users who made purchases through an affiliate or API partner | |||||||||||||
Third quarter 2021 revenue was $32.2 million, an increase of $30.6 million from the third quarter of 2020. The growth was driven by the global affiliate marketing program.
Third quarter 2021 gross profit was $20.3 million, an increase of $19.4 million from the third quarter of 2020. The increase was driven by the global affiliate marketing program as well as improved user profitability.
Third quarter 2021 gross profit per transaction was $1.69, or a $0.76 increase from the third quarter of 2020. The increase was driven by the implementation of a dynamic pricing model and improvements made to the Company’s platform, including push notifications, which contributed to higher tickets sold per transaction and higher revenue per transaction.
Third quarter 2021 net income was $11.2 million, compared to a net loss of $1.2 million in the third quarter of 2020. The improvement was driven by the increase in gross profit partially offset by expenses associated with the business combination.
Outlook and Update Following Business Combination
The Company expects to meet or exceed its previous guidance of $71 million for full year 2021 revenue.
On October 29, 2021, the Company successfully completed its business combination with Trident Acquisitions Corp. As a result of the transaction, Lottery.com received $42.8 million in net proceeds and converted $60 million of debt and accrued interest into equity. Following the completion of the business combination, the Company’s top strategic priorities include:
- Continuing development of Project Nexus’ blockchain-based gaming platform and launch of its first proprietary lottery game in 2022;
- Initiating new targeted marketing campaigns to broaden its B2C user base;
- Entering new markets in both the U.S. and internationally by the end of 2021 and entering New York and New Jersey in 2022;
- Developing and continually introducing new products to the Lottery.com platform, including additional state-specific games and digital scratcher games;
- Adding new affiliates and API partners to the Company’s B2B segment; and
- Executing on strategic and synergistic acquisitions, including those that will drive the Sports.com platform.
About Lottery.com
Lottery.com is a leading technology company that is transforming how, where and when lottery is played. Its engaging mobile and online platforms enable players and commercial partners located in the United States and internationally to remotely purchase legally sanctioned lottery games. Fans and subscribers look to Lottery.com for compelling, real-time results on more than 800 lottery games from more than 40 countries. Additionally, through WinTogether.org, Lottery.com is fundamentally changing how non-profit donors are incentivized to action by gamifying charitable giving. In all that it does, Lottery.com’s mission remains the same: an uncompromising passion to innovate, grow a new demographic of enthusiasts, deliver responsible and trusted solutions, and promote community and philanthropic initiatives. For more information, visit http://www.lottery.com.
Important Notice Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of present or historical fact included in this press release, regarding the company’s future financial performance, as well as the company’s strategy, future operations, revenue guidance, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Lottery.com disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Lottery.com cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Lottery.com. In addition, Lottery.com cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) the outcome of any legal proceedings that may be instituted against Lottery.com; (ii) Lottery.com’s ability to maintain effective internal controls over financial reporting, including the remediation of identified material weaknesses in internal control over financial reporting relating to segregation of duties with respect to, and access controls to, its financial record keeping system, and Lottery.com’s accounting staffing levels; (iii) the effects of competition on Lottery.com’s future business; (iv) risks related to Lottery.com’s dependence on its intellectual property and the risk that Lottery.com’s technology could have undetected defects or errors; (v) changes in applicable laws or regulations; (vi) risks related to the COVID-19 pandemic and its effect directly on Lottery.com and the economy generally; (vii) risks relating to privacy and data protection laws, privacy or data breaches, or the loss of data; (viii) the possibility that Lottery.com may be adversely affected by other economic, business, and/or competitive factors; (ix) the ability of Lottery.com to achieve its strategic and growth objectives as stated or at all; and (x) those factors discussed in the proxy statement/prospectus filed by Lottery.com with the SEC under the heading “Risk Factors” and the other documents filed, or to be filed, by Lottery.com with the SEC. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that Lottery.com has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov.
AutoLotto, Inc.
Condensed Consolidated Balance Sheets
| As of September 30, | As of December 31, | |||||||
| 2021 | 2020 | |||||||
| (unaudited) | ||||||||
| Assets | ||||||||
| Cash | $ | 1,179,467 | $ | 3,825,511 | ||||
| Restricted cash | – | 6,950,000 | ||||||
| Accounts receivable | 33,072,278 | 26,195 | ||||||
| Prepaid expenses | 10,815,458 | 22,013,110 | ||||||
| Other current assets | 238,627 | 788,033 | ||||||
| Total current assets | 45,305,830 | 33,602,849 | ||||||
| Investments | 250,000 | 250,000 | ||||||
| Goodwill | 17,937,691 | 12,997,048 | ||||||
| Intangible assets, net | 27,820,753 | 3,211,250 | ||||||
| Property and equipment, net | 1,297,885 | 670,952 | ||||||
| Total assets | $ | 92,612,159 | $ | 50,732,099 | ||||
| Liabilities | ||||||||
| Trade payables | $ | 2,986,762 | $ | 2,176,621 | ||||
| Deferred revenue | 598,214 | 7,763,593 | ||||||
| Convertible debt, net – current | 8,912,163 | 8,882,665 | ||||||
| Notes payable – current | 4,077,982 | 12,207,180 | ||||||
| Accrued interest | 3,435,111 | 721,717 | ||||||
| Accrued and other expenses | 4,992,522 | 2,335,350 | ||||||
| Total current liabilities | 25,002,754 | 34,087,126 | ||||||
| Convertible debt, net – non current | 31,569,218 | 10,000 | ||||||
| Other long term liabilities | 1,600,000 | – | ||||||
| Total liabilities | 58,171,972 | 34,097,126 | ||||||
| Stockholders’ Equity | ||||||||
| Controlling Interest | ||||||||
| Common stock | 5,912 | 5,159 | ||||||
| Par value $.001, 8,610,000 shares authorized, 5,910,980 and 5,158,607 issued and outstanding as of September 30, 2021 and December 31, 2020 respectively | ||||||||
| Preferred stock – series seed | 63 | 63 | ||||||
| Par value $.0001, 633,000 shares authorized, 633,000 issued and outstanding as of September 30, 2021 and December 31, 2020 respectively | ||||||||
| Preferred stock – series A | 122 | 122 | ||||||
| Par value $.0001, 1,220,000 shares authorized, 1,220,000 issued and outstanding as of September 30, 2021 and December 31, 2020 respectively | ||||||||
| Preferred stock – series A1 | 22 | 22 | ||||||
| Par value $.0001, 225,000 shares authorized, 223,749 issued and outstanding as of September 30, 2021 and December 31, 2020 respectively | ||||||||
| Preferred stock – series A2 | 30 | 30 | ||||||
| Par value $.0001, 305,000 shares authorized, 302,668 issued and outstanding as of September 30, 2021 and December 31, 2020 respectively | ||||||||
| Additional paid-in capital | 123,368,737 | 111,770,147 | ||||||
| Accumulated deficit | (91,577,868 | ) | (95,140,570 | ) | ||||
| Total AutoLotto Inc. stockholder’s equity | 31,797,018 | 16,634,973 | ||||||
| Noncontrolling Interest | 2,643,169 | – | ||||||
| Total Stockholders’ Equity | 34,440,187 | 16,634,973 | ||||||
| Total Liabilities & Stockholders’ Equity | $ | 92,612,159 | $ | 50,732,099 | ||||
AutoLotto, Inc.
Condensed Consolidated Statements of Operations
Three Months Ended September 30, 2021 and 2020 and Nine Months Ended
September 30, 2021 and 2020
| Three Months Ended September 30, |
Nine Months Ended September 30, |
|||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||
| (unaudited) | (unaudited) | |||||||||||||||
| Revenue | $ | 32,248,036 | $ | 1,602,916 | $ | 47,035,327 | $ | 4,197,314 | ||||||||
| Cost of revenue | 11,920,721 | 722,363 | 15,925,072 | 1,770,885 | ||||||||||||
| Gross profit | 20,327,315 | 880,554 | 31,110,255 | 2,426,429 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Personnel costs | 1,614,063 | 974,139 | 4,138,240 | 2,975,464 | ||||||||||||
| Professional fees | 976,679 | 182,502 | 5,174,378 | 638,878 | ||||||||||||
| General and administration | 1,085,431 | 163,691 | 4,355,760 | 593,380 | ||||||||||||
| Depreciation and amortization | 1,530,026 | 355,671 | 2,904,000 | 1,065,490 | ||||||||||||
| Total operating expenses | 5,206,199 | 1,676,004 | 16,572,378 | 5,273,211 | ||||||||||||
| Income (loss) from operations | 15,121,116 | (795,450 | ) | 14,537,877 | (2,846,782 | ) | ||||||||||
| Other expenses | ||||||||||||||||
| Interest expense | 3,789,316 | 296,517 | 9,318,638 | 881,553 | ||||||||||||
| Other expense | 178,952 | 68,218 | 1,656,540 | 416,858 | ||||||||||||
| Total other expenses, net | 3,968,268 | 364,735 | 10,975,178 | 1,298,411 | ||||||||||||
| Net income (loss) | $ | 11,152,848 | $ | (1,160,185 | ) | $ | 3,562,699 | $ | (4,145,193 | ) | ||||||
| Net income (loss) per common share | ||||||||||||||||
| Basic | $ | 1.89 | $ | (0.22 | ) | $ | 0.64 | $ | (0.80 | ) | ||||||
| Diluted | $ | 0.24 | $ | (0.22 | ) | $ | 0.08 | $ | (0.80 | ) | ||||||
| Weighted average common shares outstanding | ||||||||||||||||
| Basic | 5,900,980 | 5,158,607 | 5,534,794 | 5,158,607 | ||||||||||||
| Diluted | 45,956,427 | 5,158,607 | 45,590,241 | 5,158,607 | ||||||||||||
AutoLotto, Inc.
Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, |
||||||||
| 2021 | 2020 | |||||||
| (unaudited) | ||||||||
| Cash flow from operating activities | ||||||||
| Net income (loss) | $ | 3,562,698 | $ | (4,145,193 | ) | |||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation and amortization | 2,904,000 | 1,065,490 | ||||||
| Amortization of debt discount | 2,296,747 | 126,096 | ||||||
| Amortization of beneficial conversion feature | 4,191,530 | 494,639 | ||||||
| Stock based compensation expense | 6,479 | 13,872 | ||||||
| Forgiveness of PPP Loan | (493,225 | ) | – | |||||
| Loss on extinguishment of debt | 71,174 | – | ||||||
| Issuance of debt to pay expenses | 1,003,983 | – | ||||||
| Changes in assets & liabilities: | ||||||||
| Accounts receivable | (33,046,083 | ) | 1,625 | |||||
| Prepaid expenses | 11,202,143 | 103,253 | ||||||
| Other current assets | 561,321 | (23,975 | ) | |||||
| Trade payables | 808,670 | (391,352 | ) | |||||
| Deferred revenue | (7,165,379 | ) | 578,759 | |||||
| Accrued interest | 2,758,009 | 260,818 | ||||||
| Accrued and other expenses | 3,979,552 | 399,445 | ||||||
| Net cash used in operating activities | (7,358,379 | ) | (1,516,522 | ) | ||||
| Cash flow from investing activities | ||||||||
| Purchases of property and equipment | (1,097,993 | ) | (21,915 | ) | ||||
| Purchases of intangible assets | (3,000,000 | ) | – | |||||
| Cash paid for acquisitions, net of cash acquired | (10,012,540 | ) | – | |||||
| Net cash used in investing activities | (14,110,533 | ) | (21,915 | ) | ||||
| Cash flow from financing activities | ||||||||
| Issuance of digital securities | 108,332 | 487,494 | ||||||
| Proceeds from exercise of options | 47,130 | – | ||||||
| Proceeds from issuance of convertible debt | 13,483,500 | 365,000 | ||||||
| Proceeds from government loan | – | 643,125 | ||||||
| Proceeds from issuance of notes payable | – | 27,699 | ||||||
| Principal payments on notes payable | (1,766,093 | ) | (44,148 | ) | ||||
| Net cash provided by financing activities | 11,872,869 | 1,479,170 | ||||||
| Net change in net cash and restricted cash | (9,596,044 | ) | (59,266 | ) | ||||
| Cash at beginning of period | 10,775,511 | 158,492 | ||||||
| Cash at end of period | $ | 1,179,467 | $ | 99,226 | ||||
| SUPPLEMENTAL DISCLOSURES: | ||||||||
| Interest paid in cash | $ | 40,916 | $ | – | ||||
| Non cash investing and financing activities | ||||||||
| Conversion of convertible debt into common stock | $ | 935,000 | $ | – | ||||
| Capitalization of interest from loan extinguishment | $ | 44,614 | – | |||||
| Purchase of intangible assets through the issuance of convertible debt | $ | 15,450,000 | $ | – | ||||
| Issuance of convertible debt in exchange for outstanding liabilities | $ | 2,108,983 | $ | – | ||||
| Issuance of convertible debt in exchange for notes payable | $ | 4,531,250 | ||||||
| Common stock issued as part of acquisition | $ | 459,691 | $ | – | ||||
Lottery.com Contact:
Matthew Schlarb
VP, Investor Relations
(512) 585-7789
[email protected]
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Nasdaq:LTRY
Grit, Gains, and Setbacks for Lottery.com and Sports.com Drivers in Fourth of July Weekend Battle at Mid-Ohio
A Media Snippet accompanying this announcement is available by clicking on this link.
LEXINGTON, Ohio, July 07, 2025 (GLOBE NEWSWIRE) — Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or “the Company”), a leading technology company transforming the intersection of gaming, sports and entertainment, today announced their drivers’ results from the Mid-Ohio Sports Car Course. In sweltering summer conditions, the trio of Lottery.com and Sports.com-sponsored drivers took on one of the most technical and physically demanding road courses on the NTT INDYCAR SERIES and INDY NXT by Firestone calendars. With 90 laps of elevation, strategy, and heat, the Fourth of July holiday weekend brought both breakthroughs and heartbreaks to the paddock.
Callum Ilott
Car No. 90 – PREMA Racing (INDYCAR SERIES)
Finished: P13 | Best Result of the Season | Sponsored by: Lottery.com
Callum Ilott delivered a superb recovery drive from P24 on the grid to P13, notching his best result of the 2025 season in a race that tested both patience and performance. After being forced off-track to avoid an incident at the start, the PREMA Racing driver went off-strategy, switching early to alternate red-sidewall tires under the first caution.
Ilott executed a well-managed three-stop strategy, making his final pit stop on lap 82 and pushing hard in the closing stages to gain multiple positions.
“A really strong race. We had a bit of contact at the beginning and I was just put in a bad position on the outside,” said Ilott. “We gambled and did an early stop onto the Reds. The first stint wasn’t anything special, but once we came in and got going again on the next set of Reds, it was super fast. The car was really strong. We maximised everything from P24 — great pit stops and solid strategy.”
Louis Foster
Car No. 45 – Rahal Letterman Lanigan Racing (INDYCAR SERIES)
Finished: P14 | Rookie of the Year Leader | Sponsored by: Sports.com
Louis Foster continued his impressive rookie season by qualifying in P6—his third Fast Six shootout appearance this year—and finishing 14th in a challenging fuel-saving race. Despite not having a fresh set of tires for his final qualifying run, Foster again proved his one-lap speed and now holds an average starting position of 12.2 across a 27-car field.
In the race, Foster was initially in contention for a top-10 before a pit stop stall cost valuable time. Nonetheless, his strong performance earned him top rookie honours on the day and moved him into the lead of the Rookie of the Year standings.
“I think I did a good job saving fuel,” Foster said after the race. “That was the first time I did a proper fuel save race so that was good experience for me. Top rookie in the race by some margin. There are worse days for sure, but it’s disappointing.”
Sebastian Murray
Car No. 2 – Andretti Global (Indy NXT)
Started: P18 | DNF (Lap 4) | Championship Standing: P10 (140 points)
Sponsored by: Sports.com
Rookie Seb Murray’s weekend ended early after making contact on Lap 4 with teammate Ricardo Escotto, causing race-ending damage. After a strong opening phase where Murray climbed from P18 to P12, the collision brought a premature end to what had been a positive start.
“A super unfortunate end to today. I’m not really sure what happened — we’ll have to watch the replays and look at the data — but I’m just glad everyone’s okay,” said Murray. “A massive thank you to the AMR Safety team. They were on the scene incredibly quickly. Obviously, apologies to the team. It was a good weekend until the incident, and we were hoping to work our way forward.”
Matthew McGahan, Chairman & CEO of Lottery.com and Sports.com, commented:
“We’re incredibly proud of how our drivers have performed this season so far. From pole positions to breakthrough race results, Louis, Callum, and Seb have truly delivered. This Fourth of July weekend, the Lottery.com and Sports.com brands were flying the flag — with strong visibility on the cars and in the paddock throughout a high-profile holiday event.
“It was also exciting to see Callum and Louis racing wheel-to-wheel for P13 and P14 — both fighting hard but keeping it clean, which speaks volumes about their professionalism and respect. Keep it shiny side up, race smart, and above all, stay safe. We’re behind you every step of the way.”
Marc Bircham, Main Board Director of Lottery.com and Sports.com, added:
“The performances so far this season have been nothing short of staggering. The entire Lottery.com and Sports.com family wishes Louis, Callum, and Seb the very best as the season heats up. Mid-Ohio was a test, and now we look forward to Iowa and beyond with pride and confidence.”
About Lottery.com
The Lottery.com Inc. (Nasdaq: LTRY, LTRYW) family of brands — including Sports.com, Tinbu and WinTogether, comprise a unified ecosystem that integrates gaming, entertainment and sports. Follow the Company on X, Instagram and Facebook.
This press release was published by a CLEAR® Verified individual.
CONTACT: For more information, please visit www.lottery.com or contact our media relations team at [email protected]
Nasdaq:LTRY
Fourth of July Weekend: Lottery.com and Sports.com Drivers Revved Up for Mid-Ohio Challenge
A Media Snippet accompanying this announcement is available by clicking on this link.
LEXINGTON, Ohio, July 04, 2025 (GLOBE NEWSWIRE) — Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or “the Company”), a leading technology company transforming the intersection of gaming, sports and entertainment, today announced that the Lottery.com and Sports.com-sponsored driver trio returns to action this weekend for Round Nine of the 2025 NTT INDYCAR SERIES and INDY NXT by Firestone Championships at one of the sport’s most historic and technical venues: the Mid-Ohio Sports Car Course.
Set in the rolling hills of Ohio, the 13-turn, 2.258-mile permanent road course is known for its flowing layout, blind corners, and punishing precision. Mid-Ohio has long been a proving ground for future champions, and with five races in July, this event marks the beginning of a pivotal stretch for both title contenders and rookies alike.
Louis Foster
Car No. 45 – Rahal Letterman Lanigan Racing (INDYCAR)
Sponsored by: Sports.com
After claiming his first career pole position at Road America, Louis Foster heads into RLL’s home race at Mid-Ohio with renewed confidence and focus. The British rookie has impressed with his speed throughout the season, boasting an average starting position of 12.89 across nine races.
“I’m really proud to represent RLL at such an important race for the team,” said Foster. “I won here in Indy NXT in 2023, so it’s a track with good memories for me. There’s nowhere to hide at Mid-Ohio, especially in this level of competition. But if we keep qualifying like we have, and execute races cleanly, there’s no reason we can’t come away with a big result.”
Currently just two points off the lead in the Rookie of the Year standings, Foster sees the intense July schedule as a chance to build momentum and consistency.
Foster added, “Of course, while the qualifying results have been good, the races have been a challenge. There’s so much to get right in INDYCAR. But we’ve been working hard with the team and engineers, and now we’re into a rapid-fire run of races. It’s time to build something.”
Callum Ilott
Car No. XX – PREMA Racing (INDYCAR)
Sponsored by: Lottery.com
Callum Ilott returns to Mid-Ohio looking to carry forward the gains made at Road America, where he secured his best result of the season with P15. The track is a known battleground, famous for its technical challenge, and will feature 90 laps this year—10 more than in 2024.
This marks PREMA Racing’s first visit to Mid-Ohio with the new INDYCAR hybrid power unit, placing extra emphasis on the weekend’s two practice sessions to gather crucial data.
“Mid-Ohio is a real driver’s track—lots of flow, elevation, and little room for error. The team’s still building experience with the hybrid package, so Friday and Saturday are key to getting up to speed,” said Ilott. “Last year the race could be won from anywhere, so it’s about keeping options open and nailing the strategy.”
PREMA made adjustments to its approach following winter changes to Turn Four and the Esses section, and Ilott aims to improve on his personal best result at this circuit.
“Road America showed we’re moving in the right direction. I’m excited to see what we can unlock here with the right setup and clean stints.”
Sebastian Murray
Car No. 2 – Andretti Global (INDY NXT)
Sponsored by: Sports.com
Seb Murray will make his Mid-Ohio debut this weekend with Andretti Cape, coming off the back of a strong Road America performance where he surged from P14 to P11 and was named Jostens’ Biggest Mover. That race marked his best road course finish in Indy NXT so far.
The 2.258-mile circuit will provide another test for the Scottish rookie, with high-speed sections, elevation changes, tight technical corners and a narrow racing ribbon demanding full focus.
As the Indy NXT field tightens heading into a busy July calendar, Murray’s recent form positions him as one to watch in this next phase of the championship.
Broadcast Schedule – Mid-Ohio Sports Car Course
Watch Live in the USA and UK
Friday, July 4
– Practice 1: 4:30 PM ET / 9:30 PM UK (FS2 / Sky Sports F1)
Saturday, July 5
– Practice 2: 10:30 AM ET / 3:30 PM UK (FS1 / Sky Sports Mix)
– Qualifying: 2:30 PM ET / 7:30 PM UK (FS1 / Sky Sports F1)
Sunday, July 6
– Race Start: 1:22 PM ET / 6:22 PM UK (FOX / Sky Sports Mix)
Lottery.com and Sports.com continue to accelerate global brand momentum by backing the next generation of elite racing talent. With consistent performances and growing exposure across the U.S. and Europe, the Mid-Ohio weekend is another vital step in an ambitious season-long campaign.
Matthew McGahan, Chairman & CEO of Lottery.com and Sports.com, commented:
“We’re incredibly proud of how our drivers have performed this season so far. From pole positions to breakthrough race results, Louis, Callum, and Seb have truly delivered. As we head into this special Fourth of July weekend, we’re cheering them on to keep the momentum going. Keep it shiny side up, race smart, and above all, stay safe. We’re behind you every step of the way.”
Marc Bircham, Lottery.com Director and Sports.com Director of Acquisitions, added:
“The performances so far this season have been nothing short of staggering. The entire Lottery.com and Sports.com family wishes Louis, Callum, and Seb the very best this weekend. Mid-Ohio is a driver’s track, and we know these three are ready to deliver. Let’s go get it—safe, fast, and focused.”
About Lottery.com
The Lottery.com Inc. (Nasdaq: LTRY, LTRYW) family of brands — including Sports.com, Tinbu and WinTogether, comprise a unified ecosystem that integrates gaming, entertainment and sports. Follow the Company on X, Instagram and Facebook.
This press release was published by a CLEAR® Verified individual.
CONTACT: For more information, please visit www.lottery.com or contact our media relations team at [email protected].
FORT WORTH, Texas, June 27, 2025 (GLOBE NEWSWIRE) — Lottery.com Inc. (NASDAQ: LTRY, LTRYW) (“Lottery.com” or “the Company”), a leading technology company transforming the intersection of gaming, sports and entertainment, today confirmed that it is nearing legal proof of a coordinated and unlawful ‘short and distort’ campaign targeting the Company. In collaboration with its legal counsel, Paul Hastings LLP, the Company is actively pursuing all individuals and entities engaged in market manipulation intended to damage the Company’s share price and reputation.
Christopher Gooding, Independent Director of Lottery.com and a member of the Audit Committee with responsibility for legal affairs, issued the following statement:
“There is no doubt that there is an orchestrated campaign against Lottery. The trading metrics and forensic data we have access to clearly indicate both classic ‘short and distort’ tactics, and more seriously, a significant volume of naked short selling — illegal trades not backed by actual share ownership.
“These actors fall into three categories:
- “Aggressive and embittered insiders, who appear to be leveraging confidential or insider information from their historical relationships with Lottery.com for self-serving purposes. I outlined elements of these insiders to the judge in a Delaware action earlier this year;
- “Professional short-sellers, aided and abetted by complicit brokers — some of whom are actively engineering mechanisms to facilitate, or are willfully ignoring, illegal naked short activity; and
- “Opportunistic traders, influenced by blogs, shorting platforms, and “pay-to-publish” media articles that amplify false and defamatory narratives. These clearly represent the ‘distort’ component of the campaign. Numerous cease-and-desist letters have already been issued.
“Our message to these parties is unequivocal: We know who you are. We are rapidly securing irrefutable legal evidence of your involvement — including the brokers operating both in the U.S. and offshore in jurisdictions such as the Caribbean. We will pursue damages vigorously and refer the evidence to the appropriate regulatory authorities.
“Your days are numbered. We will shut you down, and the financial penalties imposed will far exceed the unlawful profits you have sought to extract from our shareholders.”
Lottery.com reiterates its commitment to protecting shareholder value, market integrity, and the long-term growth of its global operations.
About Lottery.com
The Lottery.com Inc. (NASDAQ: LTRY, LTRYW) family of brands — including Sports.com, Tinbu and WinTogether, comprise a unified ecosystem that integrates gaming, entertainment, and sports. Follow the Company on X, Instagram and Facebook.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, expectations related to the investigation of short selling or potential naked short selling, including the Company’s analysis, its ability to take appropriate corrective action, or any potential investigations by regulators; any future findings from ongoing review of the Company’s internal accounting controls; additional examination of the preliminary conclusions of such review; the Company’s ability to secure additional capital resources; the Company’s ability to continue as a going concern; the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq; the Company’s ability to regain compliance with the Bid Price Requirement; the Company’s ability to regain compliance with Nasdaq Listing Rules; the Company’s ability to become current with its SEC reports; and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
This press release was published by a CLEAR® Verified individual.
CONTACT: For more information, please visit www.lottery.com or contact our media relations team at [email protected]
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