The new report by Expert Market Research titled, ‘Global Online Lottery Market Growth, Share, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global online lottery market, assessing the market based on its segments like platform, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 14.9%
The mobile segment is predicted to account for a considerable market share within the global online lottery industry. This increase is often related to the increased penetration of smartphones across the world. Additionally, the lottery game apps allow people to participate in the lottery games at their leisure, which is adding to its overall popularity within the market. Europe is predicted to occupy a big share of the web lottery industry within the forecast period.
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This growth is often attributed to the increased acceptance of technology and therefore the high consumer disposable incomes within the region. Additionally, the lucrative benefits related to the lottery, like low investments with high returns, also are attracting consumers to participate in lottery games. Moreover, the increasing investment in promotional strategies through various online platforms, with the rapid spread of the web across the planet, is additionally attracting consumers to gaming apps and lottery websites.
Industry Definition and Major Segments
A lottery is often defined as a way to accumulate money by selling numbered tickets and providing prizes to the holders of selected numbers chosen randomly. It’s a sort of gambling that’s frowned upon in some parts of the planet, while in others, it’s endorsed by the govt through national lotteries.
The players can participate in international games also through online lotteries, unlike in brick-and-mortar outlets. Moreover, among the varied ways of participating, one can play through online lottery agents, who purchase lottery on the customer’s behalf, while one also can utilise online lotto platforms.
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Based on platform, the market can be broadly divided into:
On the Basis of region, the market can be divided into:
• North America
• The Asia Pacific
• Latin America
• Middle East and Africa
The rapid digitalisation and therefore the resultant spread of the web across countries and communities around the world is predicted to drive the market growth of the worldwide online lottery industry within the coming years. consistent with the planet Bank statistics, in 2017, 49% of the worldwide population had access to the web, which amounted to 41.7% in 2015. Additionally, the growing mobile ownership is additionally contributing to the market growth significantly.
consistent with the planet Bank’s World Development Report of 2016, 8 out of 10 people within the developing nations owned a mobile, and this number is predicted to steadily increase over time. aside from this, the promotional strategies across social media platforms also are attracting individuals tAo undertake their hand at lottery games.
Additionally, the technological advancements, especially concerning online banking and enhancing the safety in online transactions, also are providing a thrust to the general market growth, as people are increasingly utilising online payment channels providing encryption security. These factors are expected to drive market growth within the forecast period.
Key Market Players
The major players in the market are Lotto Direct Limited, Camelot Group, EU Lotto Ltd, Agento N.V., Bulleg Eight Limited, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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