Expert Market Research’s new report titled ‘Global Online Lottery Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the global market. online lottery market, assessing the market based on its segments such as platform and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 8%
The mobile segment is expected to account for a considerable market share within the global online lottery industry. This increase is often linked to the increased penetration of smartphones across the world. Moreover, lottery game apps allow people to participate in lottery games at their leisure, which adds to its overall popularity in the market.
Europe is expected to occupy a major share of the online lottery industry over the forecast period. This growth is often attributed to the increased acceptance of the technology and hence the high consumer disposable incomes in the region. Moreover, the lucrative benefits of lottery like low investments with high returns also attract consumers to participate in lottery games. Moreover, the growing investment in promotional strategies through various online platforms, with the rapid spread of the web across the planet, is also attracting consumers to gaming apps and lottery websites.
Industry definition and major segments
A lottery is often defined as a means of accumulating money by selling numbered tickets and offering prizes to holders of selected numbers chosen at random. It is a kind of game that is frowned upon in some parts of the planet, while in others it is government-sanctioned through national lotteries. Players can also participate in international games through online lotteries, unlike physical outlets. Moreover, among the various ways to participate, one can play through online lottery agents, who buy the lottery on behalf of the customer, while one can also use online lotto platforms.
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Based on the platform, the market can be broadly split into:
On the basis of region, the market can be divided into:
• North America
• Latin America
• Middle East and Africa
The rapid digitization and hence the resulting spread of the web in countries and communities across the globe is expected to drive the growth of the global online lottery market in the coming years. According to World Bank statistics, in 2017, 49% of the world’s population had access to the web, which was 41.7% in 2015. Moreover, the increasing ownership of mobile phones is also contributing significantly to the growth of the market. According to the World Bank’s 2016 World Development Report, 8 out of 10 people in developing countries owned a mobile phone, and that number is expected to rise steadily over time. Apart from this, promotional strategies on social media platforms also attract individuals to try their luck at lottery games. Additionally, advancements in technology, especially in online banking and improved security of online transactions, are also driving the overall market growth as people increasingly utilize online payment channels offering encryption security. These factors are expected to drive the growth of the market over the forecast period.
Main market players
Major players in the market are Lotto Direct Limited, Camelot Group, EU Lotto Ltd, Agento NV, Bulleg Eight Limited and others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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