Delving into Online Lottery Market Research 2024

The online lottery market size has grown strongly in recent years. It will grow from $10.81 billion in 2023 to $11.65 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increase in penetration of smartphones, increase in popularity of online and rise in digitalization..

The online lottery market size is expected to see strong growth in the next few years. It will grow to $16.27 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to increasing internet penetration, a growing population and increasing government support. Major trends in the forecast period include digital platforms to improve access and convenience, increasing advancements in technology, focus on blockchain and cryptocurrencies, increasing investments to develop new lottery games and strategic partnerships and collaborations among market players..

Market Overview -
Online lottery refers to a game where the player chooses or is assigned a number, symbol, or group of numbers or symbols out of a specified range of numbers or symbols. A winning ticket is chosen by chance and is connected to a central computer via a communications network.

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Rising Internet Usage Propels Growth In Online Lottery Market
The increased internet penetration is expected to boost the growth of the online lottery market going forward. Internet penetration refers to the proportion of a country's population that has access to the internet, as indicated by the proportion of internet users there. The overall sales of lotteries via mobile have expanded tremendously with the rising use of smartphones and the internet. An online lottery is a game linked to a central computer via a telecommunications network, therefore increasing the number of internet users helps the online lottery flourish in the coming time. For instance, in November 2021, according to a report shared by the International Telecommunication Union (ITU), a Switzerland-based specialized UN agency, the number of users increased by 782 million, accounting for 63% of the global population in 2021 compared to the previous year. Therefore, the increased penetration of the internet is driving the growth of the online lottery market.

Competitive Landscape -
Major companies operating in the online lottery market report are Camelot Group, International Game Technology Plc, The Hong Kong Jockey Club, Francaise des Jeux, Florida Lottery,North Carolina Lottery, Zeal Network, Lotto247, Lotto Direct, Lotto Agent, Dhankesari Lottery Sambad, Lottery Sambad Result, Takarakuji-official.jp, Ichiban Kuji Club, Lotterywest, Oz Lotteries, Baidu Inc, China Sports Lottery Operation and Management Co. Ltd., 360 Lottery, QQ Lottery, National Lottery, Jackpot.com, Betfred Lotto, Intralot SA, Française des Jeux (FDJ), EU Lotto Limited, Legacy Eight Curacao N.V., Wejdz do swiata LOTTO, Megalotto, SYNOT W, a. s., Jackpocket, Mido Lotto, Prize Pool, Scientific Games Corp, Long Game, Linq3, EMIDA Technologies, Atlantic Lottery Corporation, GammaStack, Mega Sena, Quina, Lotofácil, Dupla Sena, NeoGames S.A., Emirates Draw, Mahzooz, BuyLottoOnline, Ithuba National Lottery, wow!lotto

Jackpocket Expands Reach With Mobile Lottery App Launch In Idaho
Online lottery providers are focusing on the introduction of mobile lottery apps to provide reliable services to their customers and strengthen their market. Mobile apps provide players with unparalleled convenience, allowing them to access lottery games from anywhere, anytime, using their smartphones or tablets. This convenience encourages more frequent participation. For example, in October 2022, Jackpocket, a US-based online lottery ticket platform that allows users to purchase official state lottery tickets from their mobile devices, launched a new lottery app in Idaho, USA, allowing players to play their favorite lottery games on their mobile devices. The app allows players to view their tickets, receive automatic alerts when they win and even receive prizes through the app.

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Key Segments -
The online lottery market covered in this report is segmented -

1) By Type: Lotto, Quizzes Type Lottery, Numbers Game, Scratch-Off Instant Games, Other Types
2) By Platform: Desktop, Mobile

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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