ONLINE LOTTERY MARKET TO REACH US$ 15.1 BILLION BY 2028
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The global online lottery market size reached US$ 10.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 15.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.
The latest research study “Online Lottery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global online lottery market size reached US$ 10.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 15.1 Billion by 2028, exhibiting a CAGR of 6.1% during 2023-2028.
What is Online lottery?
Online lottery is a gambling system that involves selling numbered tickets and drawing numbers randomly to acquire money. It is connected to a central computer by a telecommunications network, and the winning ticket is determined based on the selected number randomly drawn by the holder. The online lottery application can be downloaded on mobile devices or desktop computers or accessed through a website. In recent years, the online lottery has gained immense traction as it offers safe payments, real-time experience, accessibility, convenience, security, and cashless transactions.
what are the key factors driving the global online lottery market?
The global online lottery market is primarily driven by the easy accessibility of high-speed internet. Moreover, there has been a rise in improvements in banking technologies and internet encryption, which has allowed customers to play online safely. In line with this, the shifting consumer preferences from traditional draw-based games toward virtual ones are positively influencing market growth.
Additionally, online lottery systems provide improved security, betting procedures, and reliability, thereby propelling market growth. Furthermore, numerous technological advancements, such as the integration of virtual and augmented reality (VR/AR) and the development of connected wearables to provide a three-dimensional gaming experience, are contributing to the market growth. Other factors, including the implementation of several government initiatives to promote safe practices, aggressive promotional activities on social media, and inflating consumer disposable incomes, are also anticipated to drive the market further.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Product Type:
- The Lotto
- Quizzes Type Lottery
- Numbers Game
- Scratch-off Instant Games
- Others
Breakup by Platform:
By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players
Camelot Group
International Game Technology PLCIGT
Jackpot.com
Lotto Agent
Lotto Direct Limited
Lotto247
Lottoland Limited
LottosOnline
MultiLotto
OneLotto.com
Play UK Internet N.V
and ZEAL Network SE. TIMA
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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