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- YPB Group (YPB) enters the US pull tab and instant lottery ticket market, with its tracer technology to be used to prevent fraud
- The company has secured a three-year master services agreement (MSA) with Smart-tab Systems
- YPB has already received its first purchase order under the MSA of more than US$19,000 (A$29,000) to commence the initial roll-out of its tech
- YPB Executive Chairman and Group CEO John Houston says this is “potentially the most important commercial opportunity YPB has achieved post-COVID”
- Shares in YPB soared 50 per cent to close at 0.6 cents on Wednesday afternoon
YPB Group (YPB) has entered a master services agreement (MSA) with Smart-tab Systems to use its YPB Tracer technology to protect US pull tab/instant lottery tickets from fraud.
The three-year agreement will prevent copying and fraudulent double redemption of winning lottery tickets across US states where pull-tab/instant lotteries are sold.
Copying and double redemption of pull tab and instant lottery tickets have become an increasingly significant problem across the country.
YPB said it marked the start of entering a major new market, commencing in the US.
“This is potentially the most important commercial opportunity YPB has achieved post-covid, especially due to its broader ramifications,” YPB Executive Chairman and Group CEO John Houston said.
The company said it had developed a simple low-cost solution to a “very expensive problem”, and the company was confident it could protect against fraudulent behaviour.
The invisible Tracer is applied when winning lottery tickets are made, and YPB OEM scanner modules will be fitted to self-serve kiosks and concessions that pay out winning tickets.
All copied tickets that lack YPB’s invisible tracer will not be redeemable and will be rejected.
YPB said it had been working on the technology for some time and was confident ahead of its initial rollout.
A purchase order of US$19,573 (A$29,776) has already been placed under the MSA to start the initial rollout.
Under the purchase order, YPB can produce two million YPB invisible tracer-coated tickets.
The US instant lotteries market was valued at $65 billion in 2021, accounting for 62 per cent of all US lottery sales in 2021.
Shares in YPB soared 50 per cent to close at 0.6 cents on Wednesday afternoon.
