Company: LTRYW
Filing Date: 2025-04-22
Form Type: 10-K/A
Source: 0001641172-25-005663
Chunk: 23

Company: Lottery.com Inc.
Filing Date: 2025-04-22
Form: 10-K/A
Chunk 23
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 condition and results of operations, and it could ultimately
be forced to discontinue its operations and liquidate. These matters, when considered in the aggregate, raise substantial doubt about
the Company’s ability to continue as a going concern for a reasonable period of time which is defined as within one year after the
date that its current financial statements are issued. The accompanying financial statements do not contain any adjustments to reflect
the possible future effects on the classification of assets or the amounts and classification of liabilities that might result from the
outcome of this uncertainty. For more information, see the risk factors in Item 1A of this Report under the heading “Risks Relating
to the Internal Investigation, Restatement of our Consolidated Financial Statements, Our Ability to Continue as a Going Concern, Our Internal
Controls and Related Matters.”

Regulation and Compliance

We are subject to a variety of laws in the U.S. and abroad that affect our business, including federal, state and territorial laws regarding lotteries, gaming, sweepstakes, consumer protection, electronic marketing, data protection and privacy, competition, taxation, intellectual property, export, and national security, all of which are continuously evolving. The scope and interpretation of the laws that are or may be applicable to us are often evolving or new and uncertain and may conflict with each other, particularly those governing our international operations.

| 9 |

While raising revenues for the
particular country, state, or authorizing jurisdiction, lottery and gaming laws are generally based upon declarations of public policy
designed to protect consumers from fraud and other misdeeds. To protect consumers, stringent laws and regulations have been established
per jurisdiction to ensure that participants in the industry meet certain standards which may require participants to:

| ● | ensure                                                                                                    
 that games are conducted fairly and honestly;                                                             |
| ● | establish                                                                                                 
 procedures designed to prevent cheating and fraudulent practices;                                         |
| ● | establish                                                                                                 
 and maintain anti-money laundering practices and procedures;                                              |
| ● | establish                                                                                                 
 and maintain responsible accounting practices and procedures;                                             |
| ● | ensure                                                                                                    
 that lottery games are sold only at the price and manner established by the applicable lottery regulator; |
| ● | report                                                                                                    
 prizes awarded and withhold certain amounts for taxes and other specified liabilities;                    |
| ● | file                                                                                                      
 periodic reports with regulators;                                                                         |
| ● | establish                                                                                                 
 programs to promote responsible gaming and comply with other social responsibility practices; and         |
| ● | enforce                                                                                                   
 gaming