Online Lottery Market Size 2022-2027: Global Industry Share,

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The latest research study “Online Lottery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, reveals that the global online lottery market size has will reach US$9.61 billion in 2021. Looking ahead, IMARC Group expects the market to reach a value of US$14.35 billion by 2027, with a CAGR of 6.50 % over the period 2022-2027.

Impact of Covid-19:

We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

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Industry definition and application:

Online lottery refers to a gaming system linked to a central computer that allows an individual to acquire money by selling numbered tickets and drawing numbers at random. The winning ticket for an online lottery is determined based on the numbers selected. Online lottery apps can be accessed by downloading them on desktop and smartphones or through a website. Sessions are monitored by computer programs, eliminating any physical contact or communication. In recent years, online lottery has gained momentum as it offers real-time experience, convenience, easy accessibility, secure payments, safe environment and cashless transactions.

Online Lottery Market Trends and Drivers:

One of the major factors driving the market is the easy access to high-speed internet due to which consumers widely prefer online lottery. This provides better accessibility on mobile phones and personal computers (PCs) and allows various operators to broadcast many events on digital platforms.

Additionally, several advancements in internet encryption and banking technologies have enabled consumers to gamble securely online, thus propelling the growth of the market. Apart from this, online lottery methods improve betting procedures, reliability and security. Additionally, the shift from conventional draw-based games to virtual games has provided an immersive gaming experience for individuals while ensuring transparency.
Additionally, the integration of virtual and augmented reality (VR/AR), the introduction of connected wearable devices, the swelling of income levels, the growth of promotional activities on social media and the implementation of various initiatives government to promote safe practices and legalization of online lottery services are some of the other factors creating a positive market outlook.

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Report segmentation:

The report has segmented the market into the following categories:
Breakdown by product type:
• The Lotto
• Lottery Quiz
• Number game
• Instant scratch games
• Others

Breakdown by platform:
• Desk
• Mobile/app based

Breakdown by region:
• North America: (United States, Canada)
• Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, others)
• Middle East and Africa

List of major key players:

Major market players include Camelot Group, International Game Technology PLC, Jackpot.com, Lotto Agent, Lotto Direct Limited, Lotto247, Lottoland Limited, LottosOnline, MultiLotto, OneLotto.com, Play UK Internet NV and ZEAL Network SE.

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The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

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This press release was published on openPR.

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