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Global Online Lottery Market to Grow at a CAGR of 14.9% During 2022-2027, Aided by the Rising Penetration of Internet and Smartphones Worldwide
According to a new report by EMR titled, ‘Global Online Lottery Market Report and Forecast 2022-2027’, the market is expected to grow at a CAGR of 14.9% between 2022 and 2027.
The global online lottery market is being driven by the heightened spread of the internet worldwide. In addition, the increasing ownership of smartphones across the globe is also impacting the industry growth significantly. As a result, the leading manufacturers are increasingly investing in the promotional strategies of online lottery apps and websites across social media platforms to attract more consumers to participate in the lottery games. Moreover, the lucrative appeal of lotteries with low investments and high returns are also attracting individuals, which is predicted to drive the market growth in the coming years.
The adoption of various strategies by the leading players operating in the market to enhance their global reach is expected to significantly catalyse the industry growth in the forecast period. In April 2021, BetMGM, a subsidiary of MGM Resorts (NYSE: MGM), announced the integration of their gaming program, GameSense, into their mobile gaming platform. The Game Sense program, which has received approval from the World Lottery Association, incorporates responsible gaming resources and education into the customer service model, which enables all the players to play responsibly and make informed decisions. This marks the first time for a US-based online gaming operator to adopt an award-winning gaming program into their operations. Such developments are expected to significantly impact the growth of the online lottery industry in the forecast period.
Market Breakup by Platform and Region:
- The market is divided based on platform into desktop and mobile.
- Region-wise, the global market for online lottery can be divided into North America, Europe, Asia Pacific and LAMEA
Key Findings of the Report:
- The global market for online lottery is being driven by the heightened penetration of the internet worldwide.
- The rapidly increasing mobile phone ownership is expected to significantly contribute to the market expansion.
- The increased investments in the promotional strategies of lottery apps and websites are also aiding the industry growth.
- The technological advancements in the online banking operations to facilitate online payments are expected to further propel the market growth.
Key Offerings of the Report:
- The EMR report gives an overview of the global market for online lottery for the periods (2017-2021) and (2022-2027).
- The report also offers historical (2017-2021) and forecast (2022-2027) market information for the platform and major regions of online lottery.
- The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.
The major players in the global online lottery market are Lotto Direct Limited, Camelot Group, EU Lotto Ltd., Agento N.V., Legacy Eight Curacao NV, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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