ZEAL Network CEO Stefan Tweraser believes the lottery industry should be selling people a dream, not just a ticket.
On the latest episode of Power Seat (click image above to view), the former Google and Deezer executive said the Hamburg-based business treats lottery as a form of entertainment across the whole customer journey.
“It’s not just filling out the lottery ticket, but kind of starting to dream already when you do that,” he said.
Tweraser highlighted how lottery can become a “social currency” for players. “When you’re at a party, nobody talks about playing lottery, but when you’re at a party and say, ‘what would you do with a €120m jackpot?’ That’s a very different discussion.”
The same idea drives ZEAL’s own social lotteries, which include its dream house raffle and a new car raffle. Tweraser said the latter went from conception to launch in about six months.
ZEAL’s next opportunity is in the UK. It had held a small stake in prize draw operator SevenCanyon before paying £38.6m in July to acquire the remaining 96.5% of the business, which runs three brands: 7days, UKCC and Redline.
Tweraser said the UK is “definitely the biggest prize draw market in Europe” and added ZEAL is well placed to capitalise on the changing climate in the sector, with a new voluntary code of conduct and possible changes to VAT.
“We think there’s a lot of kind of regulatory expertise that will be needed,” he explained. “And that’s what we have as a company.”
In the full episode, Tweraser also covers Germany’s online growth potential, the black market, AI, and the best advice he was given by former Google CEO Eric Schmidt.
EGR subscribers get early access to the episode before it comes out on YouTube, Spotify and Apple.
You can catch all previous episodes of Power Seat, featuring the CEOs of Betsson, LeoVegas Group, Buzz Bingo and BOYLE Sports, on our media hub.
The post Power Seat: ZEAL CEO on “selling the dream” and the UK prize draw opportunity first appeared on EGR Intel.
On the latest episode of EGR’s C-suite podcast, Stefan Tweraser says lottery must be viewed via the lens of entertainment and explains the rationale behind the SevenCanyon acquisition
The post Power Seat: ZEAL CEO on “selling the dream” and the UK prize draw opportunity first appeared on EGR Intel.