32Red Founder Edward Ware Joins Board at Operator of Lottomart

Maple International Ventures, parent company of operator Lottomart, has expanded its board of directors, with 32Red founder Edward Ware being among the new names at the table.

Ware’s long history with the betting industry dates back to when he became an Area Manager for Ladbrokes in 1993. Ware rose through the ranks at Ladbrokes to become Managing Director in 2000, before leaving in 2002 to launch 32Red as CEO. 32Red floated on the AIM in 2005. Ware remained with 32Red until 2018, shortly after Unibet-owner Kindred Group bought the operator for £175 million in 2017.

At the time of that sale, 32Red generated £62.3 million in net gaming revenue, based on its 2016 financial results, and held licenses in the UK, Italy, and Gibraltar. Ware has since taken a step back from day-to-day operations in iGaming, and has worked in an advisory capacity for Lottomart since 2019. Ware’s involvement with Lottomart will now expand to involvement with board decisions.

Ware joined by others

Ware will join the board alongside fellow new members Andrew McGrath and Michael Meade. McGrath is CEO of Alvar Financial Services and Chief Investment Officer at Burren Capital Advisors. Meanwhile, Meade brings more than 30 years’ experience in investment banking. He has advised numerous companies in the iGaming and trading sectors, including PartyGaming, Bwin, 888, 32Red, TP ICAP, and IG Group.

When announcing the new additions to the board, Maple said: “The expansion of the Board represents a deliberate and confident step forward. By formalising the commitment of individuals with exceptional track records across gaming, financial markets, capital raising, and regulated operations, Maple is reinforcing their ability to navigate complexity, manage risk, and capitalise on future growth opportunities.

“For Lottomart stakeholders, this milestone demonstrates disciplined leadership, enhanced governance, and a board fully aligned with long term value creation.”

What is Lottomart?

Lottomart was founded in 2017, offering online slot games, worldwide lotto draws and scratch cards. Despite its name and offering of bets on lotto draws, Lottomart describes itself as “not a lottery operator, nor are we connected with the various lotteries upon which we offer betting.” Players can bet on the outcome of several international lotto draws that take place several times a week.

Lottomart operates under a lottery betting model, similar to that which Lottoland operates. Lottomart does not directly enter players into official lottery draws. Instead, the player is betting on the outcome of the draw, and it is this practice that is licensed in Great Britain by the Gambling Commission.

Players can bet on the outcome of worldwide lotteries, including the US Powerball and Mega Millions draws. Players select numbers and place a wager on the outcome of the actual official draw, and if their picks match the draw results, then the player will receive a payout. While the player does not have to be based in the jurisdiction of where the lottery is taking place, they do have to be located in a territory where Lottomart is licensed.

AML failures

Last September, Maple was fined £360,000 by the Gambling Commission, after an investigation revealed social responsibility and anti-money laundering (AML) failures. Lottomart was found to have failed to “conduct an assessment of the risks of their business being used for money laundering and terrorist financing.” The Commission also found there was no evidence that Maple had taken into account current or historical versions of the Commission’s Risk Assessment, AML Guidance or Emerging Risks publications.

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