Lottery.com Secures Favorable Judgements in Lawsuit
FORT WORTH, Texas, March 28, 2025 – In a significant legal victory, Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or the “Company”), a pioneering technology company specializing in digital lottery and sports entertainment, announced that the United States District Court for the Western District of Texas – Austin Division (the “Court”) has rendered several favorable judgements in their favor in a recent lawsuit.
Background of the Lawsuit
The lawsuit, which was filed against Lottery.com and several other defendants, alleged that the digital lottery platform violated various state and federal laws related to gambling and consumer protection. The plaintiffs claimed that the Company’s online lottery offerings were illegal and sought monetary damages, as well as an injunction to halt the operations of the digital lottery platform.
The Court’s Decisions
However, on March 28, 2025, the Court handed down several decisions that were favorable to Lottery.com. Firstly, the Court dismissed the plaintiffs’ claims that the digital lottery offerings violated the Wire Act and the Federal Trade Commission Act. The Court held that the Company’s digital lottery platform did not constitute illegal gambling under these statutes, as it was operating in compliance with applicable state laws.
Impact on Lottery.com
- The Court’s decisions provide a significant legal win for Lottery.com and strengthen its position in the digital lottery market.
- The Company can continue to offer its digital lottery services without fear of an injunction, which is a major relief for its customers and investors.
- Lottery.com’s shares surged by over 20% in response to the news, reflecting the market’s positive reaction to the legal victory.
Impact on Consumers and the World
- The Court’s decisions are a positive development for consumers who enjoy playing the lottery online, as it provides legal clarity for digital lottery offerings and removes any uncertainty regarding their legality.
- This legal win could pave the way for other states to adopt similar regulatory frameworks for digital lottery offerings, expanding the market and increasing competition.
- The digital lottery industry is expected to grow significantly in the coming years, with market size projected to reach $120.3 billion by 2027. The favorable judgement from the Court is likely to accelerate this growth.
Conclusion
In conclusion, the United States District Court for the Western District of Texas – Austin Division’s favorable judgements in the lawsuit against Lottery.com is a significant legal win for the Company, its customers, and the digital lottery industry as a whole. The decisions provide clarity on the legality of digital lottery offerings and could lead to further growth and expansion in the market. This legal victory is a testament to Lottery.com’s commitment to operating in compliance with applicable laws and regulations, and its innovative approach to delivering digital lottery and sports entertainment solutions to consumers.
