For what it’s worth I’ve been paying the premium and auto purchasing tx on Jumbo for years.

if it got to the point I was worried about the difference in price I’d probably need to stop buying tx all together.

funny situation.

CEO Mike Verveka is a very smart guy. He works on making sure the Platform/App is better than any of the competition and he keeps on making it better.

I have seen this first hand with the charity lottery tickets I buy (Deaf Foundation, Mater etc). The ones powered by the Jumbo software are way better and easier to use than the non Jumbo versions. Only a small thing but its good confirmation for me of what he talks about as their moat.

So, very likely that The Lott will try and leverage a better deal in 7 years time when the contract is next up. I expect at best Jumbo will face a lower margin again but it will still be very profitable. At worst they lose the contract, although I suspect thats a low chance if they are still selling lots of tickets as The Lott won't want to lose any revenue if they can avoid it.

In the meantime Mike and his team will keep diversifying into other lotteries and also internationally, using their best in class platform and tech.

I'm happy to keep backing them in but watching closely. I'd rather back Mike and Jumbo over a bunch of "professional Directors" and a revolving door of shorter term CEO's at The Lott any day...