It's actually not a bad model. The first to talk about treating charities like for-profit enterprises was Dan Pallotta years ago in a TED talk. It basically comes down to whether you want more of a small pie or less of a larger pie.
Jumbo is pretty ingenious with how they've structured their platform. Having nearly a million active customers is a good pitch to any charity looking to market their lottery and sell more tickets. In reverse the more lotteries being offered the bigger the draw card for those looking for a broader selection to play. At a certain point it becomes self-fulfilling. If charities start directing customers to Jumbo to buy tickets to their lottery (don't think this is currently happening) then that also equates to free marketing.
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