ASX Tech Stocks: YPB anti-fraud tracer enters USA pull tab/instant lottery ticket market
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Authentication tech player YPB Global’s (ASX:YPB) invisible tracer technology will be used to address pull tab/instant lottery ticket fraud in the USA under a 3-year Master Services Agreement (MSA) with Smart-tab Systems LLC.
Copying and double redemption is an increasingly significant problem for pull tab/instant lotteries generally, and the company’s tracer will prevent the copying and fraudulent double redemption of winning pull tab/instant lottery tickets.
It will be applied at the point of manufacture and as tickets are inserted to redeem payouts, the in-machine YPB OEM scanner module will automatically confirm or deny the presence of tracer thereby authenticating tickets and directing the machine to pay-out only on genuine winning tickets.
Copied tickets, that don’t have the super-sneaky invisible tracer, will not be redeemable and will be rejected.
The company’s goal is to roll-out this technology to each US state where pull-tab/instant lotteries are sold – and it’s a big market valued at US$65 billion in 2021, accounting for 62% of all USA lottery sales in 2021.
“This is potentially the most important commercial opportunity YPB has achieved post-Covid, especially due to its broader ramifications,” executive chairman and group CEO John Houston said.
“We have developed a simple, low-cost solution to a very expensive problem and are confident of its efficacy and relevance.
“Our YPB Tracer is a proven, forensic anti-counterfeit solution, and this project, along with the recent connectivity and data capture innovations, greatly multiplies the potential value that it can now generate for shareholders.”
An initial purchase order of US$19,573 has been placed to commence the initial rollout.
YPB can produce 2 million invisible tracer-coated tickets and approximately 5 machines will be manually retrofitted with YPB’s OEM scanner modules under the terms of the initial purchase order.
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