Global Lottery Market to Reach USD 450460 Million by 2027 at a CAGR of 4.1% | Valuates Reports

BANGALORE, India, May 17, 2022 /PRNewswire/ -- The Global Lottery Market is Segmented by Type (Draw-Based Games, Instant Games, Sport Games and others), by Application (Lottery Store, Online Lottery): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Gambling Category.

The global Lottery market size is projected to reach USD 450460 Million by 2027, from USD 341000 Million in 2020, at a CAGR of 4.1% during 2021-2027.

Major Factors Driving the Growth of the Global Lottery Market

The opportunity to win big, easy game access, a variety of games, a simplified claiming process, and technological advancements like blockchain, AI, IoT, Big data, etc will drive the growth of the lottery market.

The penetration of the internet and online lottery games will significantly boost the market growth during the forecast period.

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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL LOTTERY MARKET

Lottery games give you the opportunity to try your luck and win big. In addition to it, proceeds from lottery sales go to good causes by donating a percentage of revenue to things like education, park services, and funds for veterans or doctors. In this way, both profit and charity needs are fulfilled. This is expected to boost the lottery market during the forecast period.

The popularity of online lottery games has proliferated. Players can now access a wide variety of gaming options from these lottery websites. Easy access from the comfort of your home saves money on travel and other related expenses. The sheer choice maximizes the chance of winning big. This in turn will drive the global lottery market in the coming years.

Due to the growing use of mobile devices, players can safely register their digital tickets in their online accounts which in turn provides complete security. Some lottery or the other is always active during any time of the day cutting the need to wait or stand in a long queue outside. This will bolster the lottery market in the coming decades.

The presence of lottery syndicates makes participation easier, the efforts of finding like-minded people are eliminated and awards are transferred directly to your registered wallet ensuring no one runs away with your ticket. The portal automatically checks the number and rewards you as per the correct predictions.

Lotteries and gambling involve a lot of calculation, randomization, and fast exchange of data. The increasing use of internet-enabled smart computing devices along with AI, blockchain, IoT, VR, and big data have transformed the industry radically. In addition to it, social media marketing and innovative marketing tactics opted by online platforms. Also, the huge investments by key players will impact the lottery market hugely in the upcoming years.

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LOTTERY MARKET SHARE ANALYSIS

Based on application, the online lottery segment will grow the highest due to the increasing adoption of smartphones and the proliferation of major online lottery platforms.

Based on region, North America is expected to dominate in the lottery market share with 26% due to the wide scale adoption of mobile devices, the presence of big online platforms that allow players to play from the comfort of their homes, and a global client base.

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Key Players

• China Sports Lottery
• Hong Kong Jockey Club
• China Welfare Lottery
• Francaise des Jeux
• Loterías y Apuestas del Estado
• New York State Lottery
• Camelot Group
• Singapore Pools
• California Lottery
• Mizuho Bank Ltd.
• Florida Lottery
• Ontario Lottery
• The Government Lottery Office
• Nanum Lotto
• Caixa Economica Federal
• Lottomatica S.P.A (IGT)
• INTRALOT
• BCLC
• Loto-Quebec
• Connecticut Lottery Corporation
• MDJS
• Lotterywest
• INTRALOT
• Lotería Nacional para la Asistencia Pública
• Magnum
• Minnesota State Lottery
• Ithuba Holdings Proprietary Limited (RF)
• Sugal & Damani

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SIMILAR REPORTS:

-  The global Online Lottery market size is projected to reach USD 8445.9 Million by 2028, from USD 5444.7 Million in 2021, at a CAGR of 6.4% during 2022-2028.

-  The global Gaming market size is projected to reach USD 398950 Million by 2026, from USD 192150 Million in 2019, at a CAGR of 11.0% during 2021-2026.

-  The global Cloud Gaming market size is projected to reach USD 1169.1 Million by 2027, from USD 133.7 Million in 2020, at a CAGR of 35.4% during 2021-2027.

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-  Global Video Lottery Terminals (VLT) Market Insights, Forecast to 2028

-  Global Lottery Management Market Insights, Forecast to 2028

-  Global Draw-Based Games Market Size, Status and Forecast 2021-2027

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