Global Market for Online Lottery
Dublin, May 24, 2022 (GLOBE NEWSWIRE) -- The "Online Lottery - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Online Lottery Market to Reach $14.5 Billion by 2026
The global market for Online Lottery estimated at US$8.7 Billion in the year 2020, is projected to reach a revised size of US$14.5 Billion by 2026, growing at a CAGR of 8.7% over the analysis period.
Growth in the global market has skyrocketed in recent years owing to multiple favorable factors like technological advances, rising digitalization and increasing disposable incomes. Online lottery is poised to enjoy high demand due to increasing transition towards the online platform and the gamification trend.
Market growth is also propelled by increasing per capita income, growing number of dual-income households and rising interest and uptake among people. Providers of online lottery games are investing in digitalization and advanced technology to tap the lucrative opportunity. Various countries in Europe and Asia-Pacific have provided support to online sports lottery activities like soccer, golf, auto racing, football, baseball, basketball, boxing and hockey.
The support is anticipated to present new growth opportunities for the market. Another factor positively influencing growth is increasing popularity of social media as a result of extensive penetration of smartphones and the Internet. Holding fewer restrictions in comparison to conventional marketing approaches, social media is emerged as a popular platform for product promotions and advertising for online lottery providers.
Online Draw-based Lottery Games, one of the segments analyzed in the report, is projected to grow at a 8.6% CAGR to reach US$7.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Online Sports Lotteries segment is readjusted to a revised 9.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.3 Billion in 2021, While Asia-Pacific is Forecast to Reach 4.1 Billion by 2026
The Online Lottery market in the U.S. is estimated at US$2.3 Billion in the year 2021. The country currently accounts for a 23.7% share in the global market. Asia-Pacific is forecast to reach an estimated market size of US$4.1 Billion in the year 2026 trailing a CAGR of 10.1% through the analysis period. Among the other noteworthy geographic markets are Europe and Canada, each forecast to grow at 8.2% and 7.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.3% CAGR.
By Platform Type, Desktop-Based Segment to Reach $7.5 Billion by 2026
The Desktop-based segment`s strong position can be credited to large content view, big screen and the quest to learn new technology. In the global Desktop-based (Platform Type) segment, USA, Canada and Europe will drive the 6.9% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$2.7 Billion in the year 2020 will reach a projected size of US$4.4 Billion by the close of the analysis period. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.2 Billion by the year 2026, while Latin America will expand at a 8.5% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
COVID-19 Impact on Global Lottery Industry
Effect of the Pandemic Lockdown on Online Lottery Market
Massachusetts Lottery Faces Risk of Becoming Obsolete Amid COVID-19 Pandemic
Gambling Industry: A Prelude
Lottery: A Key Segment of Gambling Industry
Online Lottery: Riding High on the Top of Innovation
Global Market Prospects & Outlook: Online Lottery Market Gets Lucky & Looks Forward to Incredible Growth
Online Lottery: Gut Punch for Some & Perfect Heaven for Revenue Support for Others
Rising Significance of Online Lottery in the US
Drivers Helping Online Lottery Market Step Up to Solid Game
Key Concerns and Challenges
Adverse Public Opinion about Gambling: A Major Issue Affecting Lottery Industry Prospects
Analysis by Platform Type
Regional Analysis: Europe Enjoys Frontline Position in Global Online Lottery Market
Online Lottery Gains Ground in the US amid the Pandemic
Sales of Michigan iLottery Products Surge in Michigan
Probable Ban on Online Lottery in Florida
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 58 Featured)
International Game Technology PLC
Lotto Direct Ltd.
Play UK Internet
3. MARKET TRENDS & DRIVERS
Advantages of Online Lottery: Galvanizing Massive Demand
Online Lottery Emerges as Favorite Gambling Pastime with Lure of Big Jackpots
Positive Aspects of Legalized Gambling Enthuse Online Lottery Market
Market Prospects Strongly Influenced by Gambling Industry Trends
Gambling Apps Contribute to the Rising Popularity of Online Lottery
Evolving Role of Cryptocurrency Encourages Market Uptake
Widespread Availability of High-Speed Internet Stirs Market Growth
Smartphone Emerges as Popular Option for Participation in Online Lottery
Increased Emphasis on Digitalization Augurs Well
Blockchain Empowers Decentralized & Transparent Operations
Big Data Steps In to Augment Online Lottery Operations
IoT Emerges as a Reliable Tool to Transform Online Lottery Market
Virtual Reality Seeks Role in Online Lottery Domain
Issues & Challenges
Regulatory Emphasis on Online Gambling Cripples Momentum
Gambling Laws in Select Countries
Nation-Wide Bans Discourage Global Expansion
Cyberattacks: Red Hot Button Issue
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/u9kwc8
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