Throughout history, lottery has been a part of world culture. It traces back to the ancient Chinese Book of Songs, which refers to lottery as “drawing of wood and lots.” Today, lottery operates in more than dozens of countries.
The world lottery market was valued at $300.6 billion in 2021, and is expected to reach $430.4 billion by 2031. The global lottery market is segmented into Asia Pacific, North America, and Europe. The Asia-Pacific market is predicted to increase at a CAGR of 9.1% during the forecast period.
The North American market will remain the largest sub-segment of the global lottery market during the forecast period. The Asia-Pacific lottery market will be driven by product innovation, continuous legalization, and product innovation.
The Asia-Pacific lottery market is projected to grow at a CAGR of 9.1% during 2021-26. This is mainly due to increasing awareness about lottery schemes. The market will also be bolstered by product innovation and mobile payment solutions.
The global lottery market is segmented by application, type, and region. It includes analysis of key market players, market drivers, and restraints. It also includes an analysis of the regional lottery market trends.
The key players in the lottery market include INTRALOT, Francaise des Jeux, Camelot Group, Florida Lottery, MDJS, and Florida Lottery.
Lottery apps will also be launched on mobile devices. These will allow lottery players to use their mobile phones to buy and play lottery games. The increasing use of Blockchain technology in lottery platforms is expected to provide profitable opportunities.