Casino City's iGaming Pocket Directory - 2021 Edition
50 Sponsored by Casino City’s iGaming Pocket Directory lottery lottery INDUSTRY OVERVIEW Lotteries have produced billions of dollars in revenues while awarding prizes worth further billions. The blueprint for a lottery is straightforward: One purchases a ticket, with each ticket yielding an equal chance of winning. Some games offer buyers the chance to select their numbers, while others come as scratch cards that feature predetermined values. Many popular lotteries wind up supplying its winners with life-changing sums, with several grand prizes crossing into the millions. While some country’s governments oppose the lottery, many embrace the game and feature both national and state-run games that sometimes share player pools and create exorbitant prizes. The global lottery market is forecasted to grow by $30.12 billion with a CAGR of nearly 6% by 2024, according to Market Reports. This is largely on the backs of regions in North America, Europe and Asia. Despite the multibillion-dollar market, mobile and online avenues to lottery ticket sales remain limited in favor of retail shops. These regulations are reflected well in the U.S., where 45 states offer some form of lottery, though only a dozen offer online sales or subscriptions. The online lottery sector is small, but growing. While Online Casino City’s database listed only 250 at the end of 2020, that’s up from 214 in 2015. The global online lottery market is estimated at $7.1 billion for 2020 and projected to hit $11.1 billion by 2027, growing at a CAGR of 6.6% in that 2020-27 window, per research from Global Industry Analysts.
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