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I had a chance to meet the founders of The Lotto Facebook application while at the graphing social facebook conference a few weeks back. You can learn more about the Facebook Lotto application here.

Anytime you can dangle a carrot of free money in front of people they will beat a path to your door. The Lotto has done this in a big way with a facebook application. They actually launched about a month ago on facebook and have a steadily growing user base. They give away prizes on a very regular basis and you can see who wins.

These are some sharp NY guys and I really enjoyed meeting them. They also just released some really cool new features today for the Lotto. They promised that the app will continue to improve and get more functionality; it has continually improved since they launched it.

This is a very smart application that has tons of monetization opportunities. I like the fact that they share the revenue with their users. Sweet! The Lotto application has lots of different types of lotto cards that you can give to your friends. I am sure the entertainment value of the app will be great… people always want free money.

As I said in my interview with them “I wish I had this idea and had executed on it”. It is already proving to be a very popular application.

Watch the Video interview with the Founders of The Lotto Facebook Application

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