Pune, India, April 14, 2020 (GLOBE NEWSWIRE) -- Global Lottery Market Global Outlook, 2026:
As per study of Research Dive, lottery market is anticipated to cross $353.1 billion by 2026, surging at CAGR of 10.6%.
The tremendous usage of digital marketing by Lottery industries is a key factor for the growth of global lottery market, throughout the forecasted period. Also, the surge in easy availability of smartphones, and internet is projected to drive the growth of lottery market, worldwide. In addition, new lottery attractive apps and online lottery options are further expected to drive the growth of the global lottery market, during the forecast period. Furthermore, rising disposable incomes are anticipated to augment the global Lottery market growth. On the other hand, stringent government regulations for the lottery operators are projected to decline the growth of lottery market. However, lottery is one of the most popular forms of gambling, worldwide. In addition, the blockchain-lottery platform has created enormous opportunities resulting in the boost of the global lottery market. Blockchain technology provides innovations such at it enhances transparency of transactions along with maintaining accessibility and privacy during the game.
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Market Segmentation Analysis:
On the basis of type, the global lottery market is broadly categorized into quizzes type lottery, the lotto, scratch-off instant games, numbers game, and others. The global lotto segment will cross $132.1 billion by the end of 2026, increasing at a healthy CAGR of 10.4%. This is mainly because clients can buy tickets or play the lottery from home.
On the basis of application, the global lottery market is bifurcated into online lottery and lottery store. The lottery store segment has the largest market share and it shall surpass $170.0 billion by the end of 2026, during the projected period. The huge growth in the lottery prizes, and liberalization of government rules and policies are expected to fuel lottery market growth. The online lottery market has the significant growth and it will surpass $183.1 billion by 2026, increasing at a CAGR of 11.7%, over the projected period. Online Lottery platform provides all the important data like the declaration of winning prizes, sales of tickets, and the total number of purchased tickets.
Regional Insights of Lottery Market:
The North America lottery market will generate a revenue of $114.2 billion by 2026, growing at a CAGR of 10.7%. The strong growth in sports betting, new innovations in lottery gamming, and a better return from new video lottery terminals, in the North American nations the US and Canada are anticipated to drive the North American market growth. Europe lottery market is projected to grow at a CAGR of 11.2% by generating a revenue of $102.6 billion by 2026. The leading players of lottery like SAZKA are emphasizing more to operate iconic and trusted brands through unrivalled distribution networks lotteries and digital gaming.
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Top Companies and thier Stratergies
The major Lottery market companies are Camelot Group, INTRALOT, Hong Kong Jockey Club, Loterías y Apuestas del Estado, California Lottery, Singapore Pools, Florida Lottery, MDJS, Mizuho Bank Ltd., and Francaise des Jeux. Players using updated technologies for their Lottery will have good probability of having success in the rapidly blooming market. To emphasize more on the competitive landscape analysis of established enterprises, the porter’s five force model is explained in the report.
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