There is a New York startup we will not name out of respect for its “stealth” mode. But we’ve spoken with numerous investors about it.
Its idea is one of the most clever we’ve heard in a while: mobile lottery tickets.
At first, the business sounds like a brilliant, mega money-maker. Everyone likes to play the lottery, but running to the convenience store for a ticket isn’t always, well, convenient.
At second thought, it sounds like a massive headache. The lottery is run by the government. That makes the idea as good as a dead end for an entrepreneur.
But what if a business resembled a lottery but was actually a sweepstakes?
From what we understand, this stealth startup won’t be charging people for tickets, so it technically won’t be a lottery. It will still offer cash prizes and deals though, made possible by advertisers.
Imagine Starbucks sponsoring one of these. If the ad campaign was a $30,000 spend, that’s a lot of money to offer a winner. Or, the winner could be granted a sponsor-related prize, like a $50 Starbucks gift card.
Something like this could be a much more fun, new iteration of the daily deal craze.