Unnthorsson has spent more than two decades inside the global lottery industry, building platforms, launching products, and navigating the complexities of regulated markets.
Now, as CEO of Bwloto, he is aiming to fill a gap he believes has been consistently overlooked: small and mid-sized lottery operators in need of faster, more flexible and more affordable solutions.
The company’s focus is not on challenging the industry’s largest suppliers head-on, but on serving operators who have often been left out of the conversation altogether.
“The lottery industry is highly concentrated, with a few dominant suppliers serving the tier-one segment, typically operators generating over €500m annually,” Unnthorsson explains. “Competing in that space is a David vs. Goliath game, played entirely on the incumbents’ terms.”
Enterprise deals in that space, he says, justify large, complex systems and lengthy procurement cycles.
“Winning even one requires massive investment, heavy compliance, and lobbying just to be eligible,” he says. “Many requests for proposal (RFPs) include entry barriers like requiring existing contracts in the same country, minimum annual deal volumes, or liability clauses that would be existential for smaller players.”
More targeted approach
That experience, from his earlier roles at Betware and Novomatic Lottery Solutions, informed Bwloto’s more targeted approach. “Going head-to-head with incumbents in that space often meant burning resources on long-shot bids with unpredictable outcomes,” he recalls. “That’s why we chose a completely different path.”
Instead of pursuing the top tier, Bwloto focuses on smaller operators and charities. “These organisations need flexibility, speed, and affordability, not legacy enterprise infrastructure,” he says. “That’s where our SaaS model, modular platform, and proven ability to launch faster gives us an edge.”
While not competing directly with top suppliers, Bwloto still interacts with them. “We don’t compete with tier-one suppliers, we complement them,” Unnthorsson says. “Through aggregation partners like SG Content Hub & EQL Games, we deliver our eInstant content directly into their ecosystems.”
He adds: “Our full turnkey focus, however, remains on the operators that have been overlooked for too long, and are ready to move now.”
Bwloto’s platform is modular, allowing clients to choose components and expand at their own pace. “Clients don’t need to take everything at once,” he says. “They can start with eInstants, add Raffle as a Service, or integrate retail components when ready.” Each piece is designed “to function independently or as part of the full stack.”
On the tech side, deployment is extremely fast. “We can deploy within a day thanks to our cloud-native architecture and infrastructure-as-code,” he says. However, localisation and compliance “slow things down.” Still, “we can realistically get operators live in 2–4 months, which is significantly faster than the industry standard.”
Bwloto’s approach is dual-sided. While its turnkey platform is aimed at SME operators, its Lottery Launchpad is designed for tier-one lotteries. “We serve tier-one lotteries with our Lottery Launchpad, enabling them to experiment with new formats like digital raffles, loyalty games, and pop-up campaigns, without disturbing their legacy systems.”
Stifled innovation
Legacy infrastructure, Unnthorsson says, has long stifled innovation. “Rolling out even a simple prototype through an enterprise lottery system can take 12+ months and millions in development costs, a hard sell for an unproven format. That’s where innovation goes to die.”
The Launchpad, he says, “sits alongside existing infrastructure and is designed for digital-first testing and experimentation.” It gives lotteries “the agility to respond to market opportunities in real time, something the traditional stack was never built to do.” Bwloto expects the first national deployments to go live later this year.
Bwloto is also finalising a strategic partnership with Sportradar. “We’re finalising our integration with Sportradar, a global leader in sports betting content and technology,” Unnthorsson says.
The deal will bring “their premium Sportsbook product Orako, including Pre-match, Live Betting service, Managed Trading and Risk Management service, Betting Entertainment tools, AI Personalisation and Live Streaming Services, through our digital frontend and retail lottery solution.”
In return, “Sportradar [will] integrate and distribute our lottery games via their platform, expanding our reach into betting-driven markets and exposing our content to new operator segments.”
“We focus on what we do best, platform, integration, aggregation, and lottery game innovation,” he says. “For everything else — sportsbook, casino, CRM, payments, terminals — we integrate with the best the market has to offer.”
Bwloto looks to raise cash
To support the next stage of growth, Bwloto is raising funds. “We’re currently raising €3m to accelerate our next stage of growth,” Unnthorsson confirms. “These funds will support global rollout, scale product delivery, and drive new client acquisition.”
With the product suite complete, the focus now turns to activation. “Our priority is onboarding new operators through our aggregation partners, expanding our sales reach in key regions like Latam and Africa, and deploying go-to-market teams to capture underserved opportunities.” The near-term goal is “onboarding 2–3 new operators every quarter, scaling from there as we deepen partnerships and expand distribution.
“The real opportunity lies in the operators most suppliers overlook, the ones without endless budgets or 18-month procurement cycles, but who still make up a massive chunk of the €315bn+ lottery market.”
Bwloto’s technology already supports operations at several Scandinavian state lotteries. “One example we’re especially proud of is our collaboration with Svenska Spel, where our Raffle as a Service platform powers their white-label fundraising network for the Swedish Hockey League.”
That experience shaped the company’s thinking. “Our work with national operators has taught us to prioritise player engagement and sustainability over short-term churn,” Unnthorsson says. “The games we build lean into casual, social mechanics — longer session times, deeper immersion, and features that support responsible play.”
“We bake compliance into everything, from architecture to launch timelines,” he says. The platform is “ISO 27001 certified, and we work closely with legal counsel and certification labs in every target market.” Key issues like localisation, data sovereignty, responsible gaming and player protection are built in from day one.
“While companies entering from the casino side or unregulated markets often struggle to adapt, for us, compliance is just another day at the office.”
Looking ahead
Looking ahead, Unnthorsson believes the lottery sector will shift dramatically. “The next generation of players expects more than static weekly draws, they want fast, mobile-first, socially connected experiences that feel more like entertainment than tradition.”
He sees lotteries evolving to resemble content platforms. “Think pop-up games tied to cultural moments, seasonal events, hybrid formats blending eInstants and draw mechanics, and casual-style games that reward time and engagement, not just luck.”
“Bwloto is the bridge to that future,” he concludes. “We’re building the infrastructure that helps lotteries evolve, without ripping out their existing systems.”
Dingnews.com 07/07/2025