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DUBLIN--(BUSINESS WIRE)--Oct 4, 2022--
The "Online Lottery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global online lottery market reached a value of US$ 9.61 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 14.35 Billion by 2027, exhibiting a CAGR of 6.91% during 2021-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Online lottery refers to a system of gambling that involves acquiring money by selling numbered tickets and randomly drawing numbers to provide prizes to holders of selected numbers. These games are linked to a central computer, which is further connected to a telecommunication network.
Online lottery applications can be downloaded on the desktop and smartphones or can be played through a website. The sessions are moderated by computer programs, thus eliminating all forms of physical contact and interactions. Apart from this, online lottery solutions offer multiple benefits, such as real-time experience, convenience, secure payments, easy accessibility, cashless transactions, and a safe environment.
The rising availability of high-speed internet connectivity and the inflating sales of smartphones across the globe represent some of the key factors creating a positive outlook for the market. Consumers are widely adopting online lottery methods due to their enhanced accessibility on mobile phones and personal computers (PCs), provision of digital and mobile payments for online players, and improved betting processes, security, and reliability.
Additionally, the shifting inclination of users from traditional draw-based games to online lotteries due to a higher amount of return on lower investments is favoring the market growth. Apart from this, various advancements in technology, such as the integration of virtual and augmented reality (VR/AR), along with the introduction of connected wearables for providing an immersive gaming experience while ensuring transparency, are providing a considerable boost to the market growth.
Moreover, the increasing utilization of online payment channels that offer encryption security for protecting data related to online transactions is positively impacting the market growth. Other factors, including various promotional activities on social media, rising expenditure capacities of consumers, and the implementation of various government initiatives promoting safe practices and legalization of online lottery services, are anticipated to drive the market further toward growth.
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Online Lottery Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
7 Market Breakup by Platform
8 Market Breakup by Region
9 SWOT Analysis
10 Value Chain Analysis
11 Porters Five Forces Analysis
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/q1mz6v
View source version on businesswire.com:https://www.businesswire.com/news/home/20221004005802/en/
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KEYWORD:
INDUSTRY KEYWORD: CASINO/GAMING ENTERTAINMENT ONLINE
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/04/2022 09:56 AM/DISC: 10/04/2022 09:56 AM
http://www.businesswire.com/news/home/20221004005802/en