Online lottery market soars. Games including Florida Lottery set to hit $14 Billion by 2027
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LONDON, Nov. 02, 2023 - If you thought the craze for playing online lotteries was just a phase, the world is embracing online lottery games more than ever.
The Business Research Company’s new report paints a promising picture for this industry.
The amount of money spent on online lotteries around the world is growing fast. Just last year, it was at $10.04 billion. This year, it’s expected to touch $10.75 billion.
That's a growth of over 7% in just one year. And by 2027 that number is predicted to be a whopping $14.47 billion.
What’s Fuelling this Growth?
Internet Everywhere: More people have access to the internet today than ever before. This means they can easily play lottery games online, no matter where they are.
More People, More Players: As the world's population increases, so does the number of potential lottery players. The simple fun and the hope of winning big attract many to these games.
Governments Say Yes: Many governments have seen the money-making potential of online lotteries and are supporting them. They are making rules that help the industry grow, which is good news for both game-makers and players.
Georgia
Illinois
Kentucky
Michigan
New Hampshire
North Carolina
Pennsylvania
Virginia
A Peek into the Industry
A number of companies are joining in the online lottery fun, and a few stand out.
The big names in 2022 were Camelot Group, International Game Technology Plc, The Hong Kong Jockey Club, Francaise des Jeux, Florida Lottery, North Carolina Lottery, Zeal Network, Lotto247, Lotto Direct, and Lotto Agent.
Together, these big players made up less than 20% of the market, meaning there's a lot of room for new and growing businesses.
Go Mobile for Easy Play
Want to play the lottery? There's an app for that!
Online lottery businesses are creating mobile apps that make playing super easy. People can play from their phones or tablets, get alerts when they win, and even claim prizes without going anywhere.
One such app was introduced in Idaho, USA, by Jackpocket in 2022.
Who’s Leading the Pack?
If you're wondering where online lottery is the most popular, Western Europe takes the crown.
In 2022, they made up over a third of the global market. North America and Asia-Pacific regions were also big players.
How is the Market Divided?
Online lotteries come in different flavors:
Types of games: From the classic lotto and number games to instant scratch-off games and quizzes.
Platforms: People play on desktop computers and mobile devices.
Where they're sold: Online stores and physical lottery shops.
What's the hottest trend? Mobile gaming is on fire! By 2027, mobile lottery games are expected to add a massive $2.7 billion in sales worldwide.
To wrap it up, the future looks bright for the online lottery world.
With the convenience of mobile apps and a growing market, this industry is set to reach new heights.
Whether you're a player hoping for that big win or a business looking to tap into this gold mine, there's plenty of excitement ahead.
Source: The Business Research Company
