Lottery Global Market Report 2023
Major players in the lottery market are Intralot, Camelot UK Lotteries Ltd., The Florida Lottery, California State Lottery, International Game Technology, Lotto NZ, Light & Wonder Inc., China LotSynergy Holdings Limited, Arizona State Lottery, Georgia Lottery Corporation, The Hong Kong Jockey Club, Singapore Pools, La Francaise Des Jeux, Colorado Lottery, and Jumbo Interactive.
New York, June 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Lottery Global Market Report 2023" - https://www.reportlinker.com/p06463999/?utm_source=GNWThe global lotteries market is expected to grow from $211.77 billion in 2022 to $298.29 billion in 2023 at a compound annual growth rate (CAGR) of 40.9%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The lotteries market is expected to reach $358.40 billion in 2027 at a CAGR of 4.7%.
The lottery market includes revenues earned by entities by providing services such as gaming systems, retail point-of-sale technology, digital and sports betting solutions.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Lottery refers to any low-odds game of chance or procedure in which winners are chosen at random.Lotteries offer players the option of winning money.
It also present wonderful gifts to their participants or users.
North America was the largest region in the lottery market in 2022. The regions covered in lottery report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of lotteries are the lotto, quizzes type lottery, numbers game, scratch-off instant games, terminal-based games, and others.Lotto refers to a chance game in which players attempt to match the numbers on their cards to those that are drawn from a container, and is used to raise money.
These are based on offline and online platform for online lottery, lottery store applications.
The increasing penetration of online lotteries is expected to boost the growth of the lottery market going forward.Online lottery refers to a broad term that encompasses games offered on websites or played through mobile apps, USSD (text-based messaging similar to SMS), and other internet-enabled tools.
Many accessible online lottery systems allow participants to buy tickets and access results from any location; as a result, many more individuals engage in the lottery, making it more broadly available than ever before. For instance, according to a report published by Jackpocket Inc., a US-based officially licensed third-party lottery app, in 2021, digital lottery play increased in every state, where Jackpocket operated, ranging from 29.7% (Minnesota) to 1,084.9% (Ohio). Furthermore, across all the states where Jackpocket is accessible, total winnings have increased by 387.1% since Q2 2020. Jackpocket users over 55 prefer to utilize the mobile web (46.4%), while those between the ages of 26 and 35 choose iOS (17.4%). Therefore, the increasing penetration of online lotteries is driving the growth of the lottery market.
Technological advancement is the key trend gaining popularity in the lottery market.Major companies operating in the lottery market are focusing on developing new technologies.
For instance, in March 2021, Scientific Games, a US-based provider of gambling products and services to lottery and gambling organizations, launched lottery retail solutions for instant game purchases in the checkout line with SCiQ InLane technology.The technology’s unique feature is its automated instant game dispensing system located beneath the retail checkout counter with a highly visible, dynamic menu display of the games for sale.
SCiQ InLane is the first solution that safely interfaces with the retailer’s point-of-sale system to enable the sale of lottery instant games using technology from payments partner Blackhawk Network.
In March 2023, Allwyn, a UK-based lottery service provider, acquired Camelot Lottery Solutions for an undisclosed amount.The acquisition is anticipated to be advantageous for the group’s businesses in Illinois.
As a result of the acquisition, Allwyn is now the sole shareholder of the businesses that make up Camelot Lottery Solutions. Camelot Lottery Solutions is a UK-based company that offers a range of purpose-built solutions to help lotteries.
The countries covered in the lottery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The lottery market research report is one of a series of new reports that provides lottery market statistics, including lottery industry global market size, regional shares, competitors with a lottery market share, detailed lottery market segments, market trends, and opportunities, and any further data you may need to thrive in the lottery industry. This lottery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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