Meet the Portsmouth man hoping to hit the jackpot with his £1 lottery ticket business
AN ENTREPRENEUR from Portsmouth is hoping to hit the jackpot with his lottery business.
Matt Fountain, from Eastney, set up Fatt Mountain Ltd and launched website onepoundlotto.com – selling £1 lottery tickets from all over the world structured in a way to act as a ticket vendor.
Matt, a mechanical engineer by trade, left his full time job a year ago to pursue his dream of creating a successful lottery ticket platform.
He said: ‘The concept started from a conversation with a friend, about how the lottery used to be better value for money.
‘Since its introduction in 1994 the pool has increased from 49 to 59 balls and the ticket price has doubled from £1 to £2.
‘So it is not only harder to win, it will cost you twice as much. I thought I can't do anything about the format but what I can do is bring back the lottery for a pound.
‘Hence onepoundlotto.com was conceived.’
Fatt Mountain Ltd acts in the name and on behalf of the customer, buying official lottery tickets and if the player wins, they get paid directly by Fatt Mountain.
Traditionally you can only purchase lottery tickets for other national lotteries if you are living or visiting a particular domicile.
So Matt’s company uses agents from around to the world to purchase them, opening up the biggest lottery markets, such as the US where some lotteries see $1bn prizes.
Matt said: ‘It is a simple premise with a simple user-friendly website that opens up a previously unattainable global lottery market. There are no hidden charges and it brings value for money to the lottery market.
‘Our prizes are 100 per cent guaranteed as we are buying official tickets from around the world.’
Matt, who has two young children, said his business is supporting good causes across the world by buying official tickets, but that he hopes to be able to start his own local community project soon.
He said: ‘I started this as I wanted to capture a segment of the global lottery market, by doing what my competitors are doing, but doing it better.
‘And of course I wanted to create a reputable brand, provide for my family and create dreams for people.
‘But I also want to give back to society, this is genuinely the thing that excites me the most about the business model.
‘I would like to try and tackle homelessness in Portsmouth. It's my local area and it seems like a good place to start.’
For more go to onepoundlotto.com