LottoShield provides an automated lottery management system that tracks and reconciles lottery inventory in real-time, eliminating manual entry and reducing operational burdens. By preventing lottery theft and streamlining inventory audits, retailers can save significant time and protect profits, with potential losses reaching up to $100,000 annually.
Funding
$600K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Lottery retailers face challenges in tracking and managing lottery inventory, leading to potential theft and revenue loss. Manual inventory management is time-consuming and prone to errors, making it difficult to identify discrepancies and prevent financial losses.
Solution
LottoShield offers an automated lottery management system that provides real-time tracking and reconciliation of lottery inventory. The system eliminates manual data entry and reduces operational burdens by automatically reconciling inventory counts, sales data, and state lottery invoices. LottoShield's detailed reports and insights help retailers quickly identify and resolve issues, preventing theft and streamlining inventory audits. By connecting to state lottery data, LottoShield provides unmatched automation and security across the entire lottery category.
Target Audience
LottoShield primarily targets lottery retailers, convenience stores, and gas stations that sell lottery tickets and need a solution to prevent theft and streamline inventory management.
Features
- Real-time tracking and reconciliation of instant lottery inventory
- Backstock monitoring to prevent improper activation of lottery packs
- Reconciliation of payouts and online lotto totals with POS and state lottery records
- Vending machine monitoring to track instant lottery movement and cash withdrawals
- Detailed timeline providing a comprehensive view of audits, employee shifts, sales, and voids
- Handheld scanner and mobile app for fast and accurate inventory audits
- Integration with accounting systems to streamline and automate the accounting process
- Automatic insertion of new games into the price book with accurate details from official sources
- Intelligent scanning for voids that result in inventory shortages