The Jumbo Interactive Ltd (ASX: JIN) share price has now nearly quadrupled over 2019 and this is no speculative penny stock either, it's now a member of the S&P/ ASX 200 (ASX: XJO) benchmark index.
Jumbo's meteoric rise is due to the growing popularity of lotteries globally as more players buy tickets online rather than over-the-counter at a local newsagents.
The growing size of Powerball jackpots in Australia (now occasionally more than $100 million) has also attracted more players looking for a life-changing win.
In fiscal 2019 it posted an adjusted net profit of $26.4 million on sales of $65.2 million. It also managed to nearly double fully franked dividends to 36.5 cents per share over fiscal 2019.
It has a strong balance sheet with $85 million cash on hand as at June 30, 2019.
It also fuelled investor bullishness by reporting total transaction value for July 2019 was up 60.7% on the prior corresponding period over a month that included a recorded $110 million Powerball jackpot.
