2022 Global Online Lottery Market Report: Market to Reach $14.5 Billion by 2026

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DUBLIN, May 25, 2022 /PRNewswire/ — The “Online Lottery – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.

Global online lottery market to reach $14.5 billion by 2026

The global online lottery market estimated at US$8.7 billion in 2020, is expected to reach a revised size of US$14.5 billion by 2026, growing at a CAGR of 8.7% over the analysis period.

The growth of the global market has exploded in recent years owing to multiple favorable factors such as advancement in technology, growing digitalization, and increasing disposable income. Online lottery is poised to experience high demand due to the increasing transition to online platform and gamification trend.

The growth of the market is also propelled by rising per capita income, increasing number of dual-income households, and growing interest and adoption from people. Online lottery game providers are investing in digitalization and advanced technology to exploit this lucrative opportunity. Various countries in Europe and Asia Pacific provided support for online sports lottery activities such as soccer, golf, auto racing, football, baseball, basketball, boxing and hockey.

The support is expected to present new growth opportunities for the market. Another factor positively influencing growth is the growing popularity of social media due to the massive penetration of smartphones and the internet. With fewer restrictions compared to conventional marketing approaches, social media has become a popular platform for product promotions and advertising for online lottery providers.

Draw-based online lottery games, one of the segments analyzed in the report, are expected to grow at a CAGR of 8.6% to reach US$7.8 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, the growth of the online sports lotteries segment is readjusted to a revised CAGR of 9.1% for the next 7-year period.

The US market is estimated at $2.3 billion in 2021, while Asia-Pacific is expected to reach 4.1 billion by 2026

The online lottery market in the United States is estimated at US$2.3 billion in 2021. The country currently accounts for a 23.7% share of the global market. Asia Pacific is expected to reach an estimated market size of US$4.1 billion in 2026 with a CAGR of 10.1% over the analysis period. Other notable geographic markets include Europe and Canada, each predicting growth of 8.2% and 7.2% respectively over the analysis period. In Europe, Germany is expected to grow at around 8.3% CAGR.

By type of platform, desktop segment to be reached $7.5 billion by 2026

The strong position of the desktop segment can be attributed to the wide display of content, the large screen and the quest to learn new technologies. In the global desktop-based segment (platform type), UNITED STATES, Canada and Europe will drive the CAGR of 6.9% estimated for this segment.

These regional markets representing a combined market size of US$2.7 billion in the year 2020 will reach a projected size of US$4.4 billion at the end of the analysis period. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$2.2 billion by 2026, while Latin America will increase at a CAGR of 8.5% over the analysis period.

Main topics covered:

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

  • Impact of COVID-19 on the global lottery industry
  • Effect of the pandemic lockdown on the online lottery market
  • Massachusetts Lottery at risk of becoming obsolete due to COVID-19 pandemic
  • The gaming industry: a prelude
  • Lottery: a key segment of the gaming industry
  • Online lottery: climbing to the top of innovation
  • Global Market Outlook and Prospects: Online Lottery Market is Lucky and Expecting Incredible Growth
  • Online lottery: Gut Punch for some and Perfect Heaven for revenue support for others
  • Growing Importance of Online Lottery in the United States
  • Factors Helping the Online Lottery Market Shift to Strong Gaming
  • Main issues and challenges
  • Adverse public opinion on gambling: a major issue affecting the outlook for the lottery industry
  • Analysis by type of platform
  • Regional analysis: Europe occupies a frontline position in the global online lottery market
  • Online lottery gains ground in US amid pandemic
  • Sales of Michigan Increase in iLottery products Michigan
  • Probable online lottery ban in Florida
  • Competitive scenario
  • Recent market activity

2. FOCUS ON CERTAIN PLAYERS (Total 58 featured)

  • Limited Schedule
  • Camelot Group
  • International Game Technology PLC
  • Jackpot.com
  • Lotto agent
  • Lotto Direct Ltd.
  • Loto247
  • LottoKings
  • LotoSend
  • LotosOnline
  • Internet gambling in the UK
  • WinTrillions

3. MARKET TRENDS AND DRIVERS

  • Online Lottery Benefits: Galvanizing Massive Demand
  • Online lottery emerges as favorite gambling pastime with lure of big jackpots
  • Positive aspects of legalized gambling excite the online lottery market
  • Market Outlook Strongly Influenced by Gaming Industry Trends
  • Gambling apps contribute to the growing popularity of online lottery
  • Changing Role of Cryptocurrency Drives Market Adoption
  • Widespread availability of high-speed internet is driving market growth
  • The smartphone emerges as a popular option for participating in the online lottery
  • Increased focus on digitization bodes well
  • Blockchain enables decentralized and transparent operations
  • Big Data steps in to increase online lottery operations
  • IoT emerges as a reliable tool to transform the online lottery market
  • Virtual reality seeks a role in the online lottery field
  • Issues and Challenges
  • Regulatory focus on online gambling cripples momentum
  • Gambling laws in some countries
  • Nationwide bans discourage global expansion
  • Cyberattacks: the red button problem

4. GLOBAL MARKET OUTLOOK

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information on this report, visit https://www.researchandmarkets.com/r/bpmowd

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Research and Markets
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SOURCE Research and Markets

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