What if there was a way to guarantee that every lottery ticket got you a prize?

Two local entrepreneurs believe they have found the way to do just that, according to the Plano Star Courier.

Eric Yoo and Elmer Cha launched YooLotto a year ago in March. It's an app that identifies winning tickets and gives free bonuses as well.

"We discovered that each year more than $800 million in winnings go unclaimed nationwide," Yoo said.

"In Texas that number is over $50 million. We found out there was an inconvenient process of checking tickets, and if people didn’t win the jackpot, they would not check their ticket. We wanted to make that process easier."

Players with the YooLotto app take a photo of their ticket using their smartphone or tablet.

If the ticket is a winner, the app will alert the player of nearby locations where they can cash in their winnings.

Elmer Cha (left), and Eric Yoo who developed the unique software.

One of the features Cha and Yoo said they were most proud of was “Second Chance,” which ensures everyone who plays the lottery is a winner, even with a non-winning ticket.

Yoo said “We wanted to follow up all of those non-winning tickets with some sort of a prize."

"Whether it is as small as a coupon for a free cup of coffee at 7-Eleven, or as extravagant as the opportunity to meet your favorite celebrity, some type of gift is provided to all the people who didn’t have winning tickets.”

The YooLotto app is free for both Apple and Android devices, and supports Powerball, Megamillions and all other Texas Lottery games where numbers are drawn.

In just more than a year, the company has grown to 26 employees and expanded to California, with plans to enter the remaining 41 states that have lotteries in June.

 

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