The expansion of online lottery has accelerated in recent years due to several favorable factors, such as technological advances, increased digitization and disposable income. Online lottery is ready to enjoy high demand due to increasing transition to online platform and gamification trend.
The expansion of the sector is also driven by the increase in per capita income and by the interest and acceptance among people. Therefore, online lottery game providers are investing in digitization and advanced technology to take advantage of this opportunity.
Several countries in Europe and Asia-Pacific also support online sports lottery activities such as football, golf, motorsport, baseball, basketball, boxing and hockey.
Another factor that positively influences growth is the rise in popularity of social media as a result of the widespread penetration of smartphones and the Internet. With fewer restrictions compared to conventional marketing approaches, social media has emerged as a popular platform for promotions from online lottery providers.
Amid the COVID-19 crisis, the global pnline lottery market estimated at US$8.7 billion in the year 2020 is expected to reach US$14.5 billion in 2026, growing at a CAGR of 8.7% in the analysis period.
Lottery games based on online draws are expected to rise 8.6 percent to reach $7.8 billion by the end of 2026. After a thorough analysis of the commercial implications of the pandemic and the economic crisis it has generated, the surge in online sports lotteries has been readjusted to 9.1% in the coming years.
US online lottery industry estimated at $2.3 billion for 2021
The online lottery industry in the United States is estimated to be worth $2.3 billion for this year 2021. The country currently has a 23.7% share of the global industry. Asia-Pacific is projected to reach a market size of $4.1 billion by the year 2026.
Other prominent geographic markets include Europe and Canada, each forecasting growth of 8.2% and 7.2%, respectively, during the period under review. In Europe, the forecast is that Germany will grow around 8.3%.
By platform type
The strong position of the desktop-based market can be credited to the wide viewing of content, the big screen and the quest to learn new technologies. In the global Desktop-based segment, the US, Canada and Europe tend to grow by 6.9%.
These regional markets, responsible for a combined market size of US$2.7 billion in the year 2020, will reach US$4.4 billion by 2026. Led by countries such as Australia, India and South Korea, the market for Asia-Pacific is expected to reach the US$ 2.2 billion mark by 2026, while Latin America will expand 8.5%.