LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global lottery market is expected to grow at a CAGR of more than 9% during the forecast period.
This research report titled ‘Global Lottery Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
According to Ujjwal Doshi, a lead analyst at Technavio for gaming research, “The regulations on lottery markets across the world are evolving with many countries legalizing different forms of lottery. The change in regulations, especially in countries like the US that have a high potential for growth, will drive the growth of the market during the forecast period.”
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The market research analysis categorizes the global lottery market into three major types. They are:
- Terminal-based games
- Scratch-off games
- Sports lotteries
Global lottery market by terminal-based games
The terminal-based lottery market is expected to grow at a CAGR of close to 10% during the forecast period. Terminal-based lotteries mainly include draw-based or numbers games such as Lotto, EuroJackpot, EuroMillions, Mega Millions, and Powerball. This segment accounted for the largest market share in 2016. One of the major reasons for the growing popularity of the segment is that several users enjoy the anticipation that is ingrained in these lotteries. Furthermore, the prize money of these lotteries is significantly more than the prize money of other types of lotteries.
The US and parts of Europe such as the UK, Germany, and Spain have recorded notable jackpot records in the period 2011-2016. As of January 2016, the US Powerball created the largest jackpot history with a prize money grossing more than USD 1 billion.
Global lottery market by scratch-off games
The scratch-off lottery market is expected to grow at a CAGR of more than 12% during the forecast period. The low cost of the lottery ticket and the instant chances of a win are the major factors driving the growth of this market. Scratch-off cards of higher prices have higher prize values. Even though their prize value is not as high as that of other lotteries such as Powerball and other terminal-based lotteries, they have a high consumer retention as they are low-risk lotteries as compared with other lottery games. Betsson and Bet365 are the biggest scratch-off lottery vendors in the market as of 2016. These companies integrated NeoGames scratch games in 2009 and have been gaining profits since.
“The growing demand for the online lotteries is also helping the market to grow. Online lottery gaming vendors have started using the latest innovations to attract more customers,” says Ujjwal.
Global lottery market by sports lotteries
Online lottery started off with the sports segment, and has become one of the popular online sports games. In this game, gamblers predict the winners from the involved teams and the highest number of correct predictions for the select matches decides the winner. Sports lotteries are immensely popular among sports enthusiasts as they are won depending on the gambler's knowledge about the sport. This segment is highly popular in Europe as it hosts several football matches every year. Apart from football, betting on horse racing and greyhound racing are also popular.
The top vendors highlighted by Technavio’s media and entertainment market research analysts in this report are:
- Camelot
- China Welfare Lottery
- Francaise des Jeux
- International Game Technology
- Hong Kong Jockey Club
- INTRALOT
- Scientific Games
Browse Related Reports:
- Lottery Market in the US 2016-2020
- Online Lottery Market in China 2016-2020
- Casino Gaming Market in the US 2016-2020
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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