Lottery Tech

Global Online Lottery Market to Reach $14.5 Billion by 2026

A new report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace

Global Online Lottery Market to Reach $14.5 Billion by 2026
Global Online Lottery Market to Reach $14.5 Billion by 2026

A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Online Lottery - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Online gambling is easier and also more efficient. Across the world, online lottery garnered much popularity attracting audience from different age groups and walks of life. Growth in the global market has skyrocketed in recent years owing to multiple favorable factors like technological advances, rising digitalization and increasing disposable incomes. Online lottery is poised to enjoy high demand due to increasing transition towards the online platform and the gamification trend. Market growth is also propelled by increasing per capita income, growing number of dual-income households and rising interest and uptake among people. Providers of online lottery games are investing in digitalization and advanced technology to tap the lucrative opportunity. Various countries in Europe and Asia-Pacific have provided support to online sports lottery activities like soccer, golf, auto racing, football, baseball, basketball, boxing and hockey. The support is anticipated to present new growth opportunities for the market. Another factor positively influencing growth is increasing popularity of social media as a result of extensive penetration of smartphones and the Internet. Holding fewer restrictions in comparison to conventional marketing approaches, social media is emerged as a popular platform for product promotions and advertising for online lottery providers.

Amid the COVID-19 crisis, the global market for Online Lottery estimated at US$10.9 Billion in the year 2022, is projected to reach a revised size of US$14.5 Billion by 2026, growing at a CAGR of 8.7% over the analysis period. Online Draw-based Lottery Games, one of the segments analyzed in the report, is projected to grow at a 8.6% CAGR to reach US$7.8 Billionby the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Online Sports Lotteries segment is readjusted to a revised 9.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $2.5 Billion in 2022, While Asia-Pacific is Forecast to Reach 4.1 Billion by 2026 

The Online Lottery market in the U.S. is estimated at US$2.5 Billion in the year 2022. The country currently accounts for a 23.7% share in the global market. Asia-Pacific is forecast to reach an estimated market size of US$4.1 Billion in the year 2026 trailing a CAGR of 10.1% through the analysis period. Among the other noteworthy geographic markets are Europeand Canada, each forecast to grow at 8.2% and 7.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.3% CAGR. Europe continues to retain its strong position as the major hub for online lottery as a result of the swift transition from conventional physical draw-based games toward virtual lottery platforms. The regional market is augmented by increasing per person disposable incomes that have played an important role in boosting discretionary spending. The lure of high returns on low investments is driving a large number of people in Europe to invest in online lottery for attractive rewards. In addition, players on the online lottery market are leveraging social media platforms like Twitter, Facebook and Google+ for their promotional strategies. These players are posting winning prizes on these platforms to attract users. These aggressive strategies are enabling companies to push lottery ticket sales. The United States represents the single largest regional market for lottery worldwide, mainly because of the highest smartphones penetration here. Almost all US lotteries offer online platforms currently, allowing clients to play from anywhere.

By Platform Type, Desktop-Based Segment to Reach $7.5 Billion by 2026

The Desktop-based segment's strong position can be credited to large content view, big screen and the quest to learn new technology. In the global Desktop-based (Platform Type) segment, USA, Canada and Europe will drive the 6.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.7 Billion will reach a projected size of US$4.4 Billion by the close of the analysis period. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.2 Billion by the year 2026, while Latin America will expand at a 8.5% CAGR through the analysis period. More

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