Global Online Lottery Market to Reach $14.5 Billion by 2026

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FACTS AT A GLANCE
Editing: 9; Published: March 2021
Executive commitments: 491
Companies: 58 – Players covered include Annexio Limited; Camelot Group; International Game Technology PLC; Jackpot.com; lotto agent; Lotto Direct Ltd. ; Loto247; LotoKings; LotoSend; Online lotto; Play internet in the UK; WinTrillions and others.
Blanket: All major geographies and key segments
segments: Type (online draw-based lottery games, online sports lotteries, online instant lottery games, other types); Platform type (desktop-based, mobile)
Geographies: World; United States; Canada; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Latin America; Rest of the world.

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ABSTRACT-

Global Online lottery Marlet to reach $14.5 billion by 2026
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. The online lottery is poised to experience high demand due to the increasing transition to the online platform and the trend of gamification. 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 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 COVID-19 crisis, 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. 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. Continued

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