LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the lottery market in Mexico is expected to reach USD 4,036.89 million by 2021, growing at a CAGR of nearly 10%.
This research report titled ‘Lottery Market in Mexico 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. To calculate the market size, the report considers the revenue generated from lottery sales in Mexico.
The government of Mexico allows lotteries to promote fundraising for charitable organizations. As lotteries are governed by local, state, and national laws, the regulations vary between regions. The government regulations that support lotteries are one of the key drivers of the market growth. Some countries consider lottery illegal and have stringent government regulations related to lotteries. Mexico is one of the premium promoters of lotteries because it is one of the major sources of revenue for the country.
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Technavio’s media and entertainment analysts categorize the lottery market in Mexico into four major segments by type. They are:
- Draw-based lotteries
- Sports lotteries
- Instant lotteries
- Others
The top three segments by type for the lottery market in Mexico are:
Lottery market in Mexico by draw-based lotteries
Draw-based lotteries require the gamer to select a few numbers depending on the gameplay. The numbers are either selected or autogenerated. The numbers are later picked at random by the organizer. The player who has all the numbers matching the numbers drawn will win the highest prize.
According to Ujjwal Doshi, a lead media and entertainment services research analyst from Technavio, “A similar concept is used in various games such as Keno, where 20 numbers are randomly selected or auto-selected, or a combination of both is used. Twenty numbers are drawn out of 80, and the player with the most number of matches wins the highest prize.”
Lottery market in Mexico by sports lotteries
Sports lottery is similar to sports betting, where customers pick which teams they think will win. The customer who gets all or most of his predictions right wins the game. The two categories of sports lotteries are traditional football betting and single-match betting. Both categories permit betting on FIFA-associated events such as the FIFA World Cup, English Premier League, European Champions League, and Spanish Premier League.
“In traditional football betting, players bet on a sequence of forthcoming matches. They have to bet on all the matches, and the player with the maximum correct results wins the lottery. However, in single-match betting, players predict the result of a single sporting event,” says Ujjwal.
Lottery market in Mexico by instant lotteries
The instant lottery segment is one of the fastest-growing segments of the Mexican lottery market. The game is not time-consuming, which is a major factor that is boosting the growth of the segment. The gameplay is slightly similar to scratch card games. The gamer's ticket will have 14 scratch slots and 16 pictures arranged in a 4x4 matrix.
Out of the 14 pictures that are obtained after scratching, if the ticket can match any four of the pictures in the matrix either horizontally or vertically, the gamer will be paid out accordingly. The cost of the ticket is USD 3, but the payout can be as high as USD 50,000.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Mexico National Lottery
- INTRALOT
- SORTEO GAMES
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About Technavio
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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