Global Online Lottery Market To Hit $14.5 Billion By 2026 – European Gaming Industry News

0
Reading time: 2 minutes

Online gambling is easier and also more efficient. All over the world, online lottery has grown in popularity, attracting audiences of different age groups and walks of life. The growth of the global market has exploded in recent years owing to multiple favorable factors such as advancement in technology, increasing digitalization, and increasing disposable income. Online lottery is poised to experience high demand due to the increasing transition to online platform and gamification trend. Market growth is also propelled by increasing per capita income, growing number of dual-income households, and increasing 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 have supported online sports lottery activities like football, golf, motor racing, soccer, baseball, basketball, boxing and hockey. The support is expected to present new growth opportunities for the market. Another factor positively influencing the 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.

Amid the COVID-19 crisis, 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, with growth at a CAGR of 8.7% over the analysis period. 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 by the end of the period analysis. 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 to be worth 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 growing at a CAGR of 10.1% over the analysis period. Other noteworthy geographic markets include Europe and Canada, each forecasting growth of 8.2% and 7.2% respectively over the analysis period. In Europe, Germany is expected to grow around 8.3% CAGR.

By Platform Type, Desktop Segment to Reach $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 segment (platform type), the United States, Canada and Europe will drive the estimated CAGR of 6.9% for this segment. These regional markets representing a combined market size of US$2.7 billion in 2020 will reach a projected size of US$4.4 billion by the end of the analysis period. Led by countries such as Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$2.2 billion by 2026, while Latin America will expand to a CAGR of 8.5% over the analysis period.
Select competitors (58 total featured) –

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

Share.

Comments are closed.