STAMFORD, Conn., June 15, 2010 (GLOBE NEWSWIRE) -- eLOTTERY Inc., a leading provider of web-based retailing and e-commerce marketing services to state and governmental lotteries, announced it had acquired a patent that will "enable us to offer the industry's most comprehensive e-commerce solution for the sale of state and governmental lottery products," according to eLOT, Inc. Chairman & CEO Edwin McGuinn.
Prior to the acquisition, eLOTTERY held three U.S. patents that covered the sale of lottery tickets over the internet through a synchronous system communicating directly to the state's existing system. "With the purchase of the 'Archer' patent (USPTO #6,277,026), we are now able to offer an internet ticket sales system that communicates asynchronously to the state's existing system as well," McGuinn 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 this enormous and rapidly emerging e-commerce opportunity," McGuinn said.
About eLOT, Inc.
eLOT, Inc. is an application service provider of Internet marketing and e-commerce technology for lotteries and now holds four issued U.S. patents and several pending patent applications covering internet lottery technology. In addition, eLOT has been issued e-commerce patents for selling state and governmental lottery tickets in Australia, Canada, China and Mexico, and they have similar patents pending in 25 other countries.
In a national survey conducted in April 2009, eLOT estimated that revenues in the 43 U.S. jurisdictions (42 states and the District of Columbia) that sponsored lotteries could initially increase their consolidated revenues by as much as $4.4 billion annually if an e-commerce sales channel were adopted.