What is The Lotto Factory?
How this nimble start-up company is leading the way in online fundraising
The idea of fundraising sounds relatively simple, provide donors with a good cause and they will provide your organization with the funding it needs to achieve its goals. However, it is easier said than done. Not-for-profits and charities are constantly struggling to raise enough money to even keep their organizations afloat, let alone invest in their cause. Barriers such as a decline in volunteerism, growing demand for services due to government cutbacks and a lack of available resources prevent these organizations from reaching their fundraising goals. Ric Cutherbertson, the CEO of The Lotto Factory, experienced these challenges first hand during previous work for not-for-profit organizations and quickly realized that these outdated fundraising methods were a big part of the problem. Ric, along with The Lotto Factory team, began to design an online 50/50 fundraising platform with an aim to reduce the burden on shrinking volunteer/staff resources while still meeting or exceeding the fundraising goals of the organization. These charities and not-for-profits are working to help a variety of amazing causes as well as working to support and improve communities locally and around the world. The team at The Lotto Factory is constantly striving to make fundraising more accessible and manageable by combining classic methods with new technologies using The Lotto Factory’s SaaS online platform.
Software as a service (SaaS) is an extremely fast-growing industry that is emerging as a key player among new technology designs and applications. SaaS is a software distribution model in which a third-party provider will host an application making it available to users over the internet. SaaS is just one example of how refined and advanced technology has become in just the past three generations. Today, a generation of tech-savvy millennials represents the largest generation in the country, making up over 27% of the Canadian population. Millennials have grown up with rapidly changing and advancing technologies such as smartphones, laptops and countless social media platforms which makes it safe to say these devices have become a major part of our lives and identities. With this generation dominating our national population, “old school” technologies that were once seen as effective are now being deemed as outdated and retro (not cool retro-like 70’s bellbottom pants). The Lotto Factory is an example of a company joining this mission to revamp and update old technologies that are ineffective by creating a user-friendly software service that can be used around the world.
The Lotto Factory is a SaaS company located in Fredericton, New Brunswick that took the initiative to reinvent an outdated, manual fundraising platform known traditionally as a 50/50 draw. The classic way to organize a 50/50 fundraiser involves many volunteers, countless hours counting and distributing tickets as well as many hours spent trying to organize loose coins and bills. It is now 2020, 13 years after Apple released the first iPhone, and for some reason, this tiresome fundraising method is still being practiced at sports games and outside grocery and liquor stores all over the country.
The Lotto Factory’s online fundraising platform provides not-for-profit organizations, charities and sports teams with exposure to a wider and broader audience by utilizing the power of the internet and social media. Since its launch in 2017, the company has already helped more than 40 not-for-profit organizations and sports teams with meeting their fundraising goals and was identified as one of Canada’s Top 25 Startups in the annual (2019) Branham 300. This platform can be used by a wide range of organizations extending from service clubs and sports teams to dog rescue organizations and everything in between. Some of TLF’s clients include Luxor Shriners, the Fredericton Red Wings and the Atlantic Wildlife Institute. “Things are going extremely well. There is a tremendous interest in what we are providing” Says Ric Cutherbertson, The Lotto Factory’s CEO. “Our goal still remains to provide charities and not-for-profits with innovative, safe and secure online vehicles for raising unrestricted funds and one which meets or exceeds gaming industry standards.”
What makes TLF’s offering unique and a disrupter in the industry, is that it can offer charitable and not for profit organizations truly turnkey, licensed online fundraising platforms via its sister company TLF Global Ltd. TLF Global Ltd is based in Alderney, Channel Islands and has secured a Client Provider Gaming License from the Kahnawake Gaming Commission that permits them to operate and manage 50/50 draws virtually everywhere in the world with the exception of the United States and sanctioned countries. This means organizations can enter an Affiliate agreement with TLF Global to run a 50/50 on the organization’s behalf.
The Kahnawake Gaming Commission has been operating in the online gaming space for the past 20 years. “We have been fortunate that TLF Global has been granted a Client Provider license as it allows us to not only operate draws in any province in Canada, but have players support those draws from any province in the country or beyond” says Robb Clarke, one of The Lotto Factory’s co-founders.
Many of The Lotto Factory’s clients have praised them for providing their organization with an easy and user-friendly platform for raising money. Sports teams have also experienced huge success using the online fundraising draws. Canadian hockey teams, such as the Alberni Valley Bulldogs and the Merritt Centennials are just two examples of organizations that have received a positive response from fans and plenty of community engagement regarding their weekly online 50/50 draws. TLF has also seen a large increase in the number of users registered since the COVID-19 pandemic in March 2020. “This season perhaps more than any other has put challenges on our revenue streams. Working with The Lotto Factory has been a real boost to our bottom line, while at the same time providing something fun and interactive for our fans and supporters to be involved with.” says David Michaud, the President of The Alberni Valley Bulldogs. “The Lotto Factory team has been quick to respond to any questions we’ve had, and the back end on their system is fantastic. If you do what they say, your club will earn some much needed extra revenue.”
The Lotto Factory’s main focus continues to be on charities, not-for-profit organizations and sports teams; however, they are open to exploring new possibilities as they continue to grow and gain clients across the country and even around the world. The future of 50/50’s is changing, and The Lotto Factory is paving the way for organizations to take advantage of the amazing opportunities technology has provided.
