Across the world, lottery games have gained a lot of popularity. These lottery games offer high returns and provide great entertainment. They also require minimal investments. There are different types of lottery, which include financial lottery, Lotto, scratch-off tickets, and multi-jurisdictional lottery.
The global lottery market is segmented into North America, Asia Pacific, Europe, and LAMEA. Each region is examined for its respective growth prospects and key factors that drive or hinder growth. The report also provides an analysis of leading companies in the market. Detailed information is provided regarding historic and current market trends, and price and volume forecasts. It also gives an overview of the market’s segmentation and application areas.
Asia-Pacific is expected to witness growth of 9.1% in the coming years. The region is projected to gain momentum due to product innovations and increasing awareness about lottery schemes. In addition, continuous legalization is anticipated to propel the market. On the other hand, stringent gambling regulations are projected to hinder the market’s growth.
The United States is the leading country in the global lottery industry. This is attributed to its high levels of consumer disposable income. In 2012, the lottery industry in the US generated $71 billion. However, the demand for traditional lottery products has decreased as a result of government regulations.
Several Asian countries, including China, Japan, and Vietnam, are expected to exhibit positive growth in the future. Moreover, the lottery industry in these countries is projected to surpass the United States by 2015. The lottery industry in China has generated $43 billion in 2012. These markets have been positively influenced by the government’s efforts to reshape the lottery industry. In the past few years, the Chinese government has sought to consolidate its existing lottery business. It has also been seeking to draw more punters.
The online sub-segment of the lottery market is predicted to grow at a CAGR of 8% during the period from 2017 to 2023. This market is characterized by the convenience of playing the lottery online. There are many online lottery sites that are growing in popularity. These sites provide the same selection of games as a brick and mortar retailer. In addition, they integrate mobile payment methods. These lottery sites also allow users to play from anywhere in the world.
In addition, the United States has a strong regulatory framework that allows the operator to monitor operators and set standards. However, the COVID-19 pandemic and stringent gambling laws have had a negative impact on the offline lottery industry.
The study also identifies the key players in the lottery market, along with their growth strategies. It provides a comprehensive view of the market players and helps in benchmarking them. The report also provides an analysis of the market players’ position and market dynamics for the period from 2018 to 2023. In addition, it also covers the demand and supply side of the market.
The report also highlights the market’s leading applications. In addition, it outlines the market segmentation and key market drivers, restraints, and opportunities.