Did you know $800 million in lottery winnings goes unclaimed in America every year? $50 million of that is just here in Texas. That’s why a duo from Dallas has put together an app for your smartphone that’ll do the legwork for you and track down any unclaimed funds you may have coming to you from an old lotto ticket.
YooLotto, as it’s called, is the brainchild of Eric Yoo and Elmer Cha. Launched in 2013, the company has already grown to 26 employees.
The two began searching lotteries around the country and found out that, in many cases, players who didn’t match the winning jackpot numbers simply tossed aside the ticket, forgetting that they may have won a smaller prize. They also say their research pointed to an inconvenient process of ticket checking, which YooLotto aims to streamline.
YooLotto lets players with the app take a photo of the ticket using their smartphone or tablet. If that ticket is a winner, the app will alert the player of nearby locations where they can cash in their winnings.
Company spokeswoman Margaret Chabris says the company recognizes that more and more people are turning to smartphones for business, and they thought YooLotto would be a perfect fit.
You can find the app for download today in the App Store or Google Play. For more information, visit http://www.yoolotto.com.