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- Global Online Lottery Market
Global Online Lottery Market to Reach US$ 17.7 Billion by 2032, Propelled by the Easy Accessibility of High-Speed Internet
September 30, 2022
| Technology & Media
The latest report by IMARC, titled “Online Lottery Market Report by Product Type (The Lotto, Quizzes Type Lottery, Numbers Game, Scratch-off Instant Games, and Others), Platform (Desktop, Mobile/App-based), and Region 2024-2032”, finds that the global online lottery market reached a value of US$ 11.0 Billion in 2023. Online lottery refers to a gambling system linked to a central computer through a telecommunications network, involving the acquisition of money by selling numbered tickets and randomly drawing numbers. The winning ticket is determined based on the selected number randomly drawn by the holder. The online lottery applications can be either downloaded on smartphones or desktops or played through a website. These sessions are observed by computer programs, eliminating all kinds of physical contact or communication. In recent years, the online lottery market has gained momentum as it provides convenience, secure payments, real-time experience, easy accessibility, a safe environment, and cashless transactions.
Global Online Lottery Market Trends:
One of the primary factors driving the market is the easy accessibility of high-speed internet, leading to a large base of consumers preferring online lottery, enabling numerous operators to stream various events. Additionally, online lottery methods offer enhanced reliability, betting procedures, and security, thereby creating a positive market outlook. Other than this, improvements in internet encryption and banking technologies have enabled customers to play online safely. As a result, there has been a shift from traditional draw-based games to virtual ones. Furthermore, various improvements in the field of technology, such as the integration of virtual and augmented reality (VR/AR) and the launch of connected wearables, to offer a three-dimensional gaming experience, is strengthening the market growth. Other growth-inducing factors include promotional activities on social media, expanding disposable income levels, and the implementation of several government initiatives to promote safe practices and the legalization of online lottery services. Looking forward, IMARC Group expects the market value to reach US$ 17.7 Billion by 2032, expanding at a CAGR of 5.37% during the forecast period (2024-2032).
Market Summary:
- Based on the product type, the market has been divided into the lotto, quizzes type lottery, numbers games, scratch-off instant games, and others.
- On the basis of the platform, the market has been bifurcated into desktop and mobile/app-based.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Camelot Group, International Game Technology PLC, Jackpot.com, Lotto Agent, Lotto Direct Limited, Lotto247, Lottoland Limited, LottosOnline, MultiLotto, OneLotto.com, Play UK Internet N.V and ZEAL Network SE.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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