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China - Online Lottery Market size is estimated to grow by USD 1,860.72 million, accelerating at a CAGR of 8.49% between 2023 and 2027.
Our report offers an in-depth analysis of market drivers, trends, opportunities, and challenges, with segmentation by Device (mobile and desktop) and Product (lotto, sports, VLT, and scratch card). Additionally, Technavio provides valuable insights through value chain analysis, parent market analysis, Porter’s Five analysis, vendor analysis, and COVID-19 impact data. The report also includes a thorough analysis of historical market data from 2017 to 2022.
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The growth of the online lottery market in China is fueled by the expanded accessibility it offers to players. Online lotteries attract players with the convenience of participation from any location via the internet, eliminating the need for physical presence. This advantage is particularly appealing as it removes travel requirements, allowing players to engage at their convenience.
Furthermore, the popularity of online lotteries among young individuals is rising, thanks to the ease of playing through computers and mobile devices. China has experienced significant growth in online lottery activities, with lottery sales reaching USD 58.67 billion in 2021, marking an 11.8% increase from 2020. This growth is notable, especially considering the disruptions caused by the COVID-19 pandemic in the previous year when retail sales were suspended for an extended period. These factors contribute positively to the Chinese online lottery market and are expected to drive its growth in the forecast period.
Enhancing the public perception of lotteries is a pivotal factor influencing the growth of China's online lottery market. The gambling industry, including online lotteries, faces challenges in countries with a negative public image, often leading to bans grounded in morality or religion. There's a growing belief that the lottery market is rife with fraud.
To address these concerns, governments worldwide are launching initiatives to regulate and legitimize the market, ensuring fairness among participants and vendors. In China, unauthorized online sales of welfare and sports lottery tickets are deemed illegal under updated regulations. These initiatives are expected to have a positive impact on the growth of the online lottery market in China during the forecast period.
Social concerns pose a significant obstacle to the growth of China's online lottery market. The major worry centers around the potential for problem gambling and addiction associated with online lotteries. Easy access to online platforms and the public perception of gambling as a lucrative way to win substantial prizes contribute to the risk of gambling addiction, negatively affecting individuals and their families.
Furthermore, there is a heightened risk of underage gambling, given the attractiveness of online platforms to young people. The increasing popularity of online gambling in China underscores the necessity of safeguarding minors from the potential hazards of gambling. Consequently, these factors have a detrimental impact on the market, impeding the growth of the online lottery market in China during the forecast period.
The mobile segment is estimated to witness significant growth during the forecast period. The mobile segment enables market players to effectively target their audience with their preferred choice of lottery games. There is a higher chance for a mobile user to convert into an online lottery customer compared to a desktop user. Hence, smartphones are considered an effective channel to increase participation in online lottery which is fuelling the growth of this segment.
Online Lottery Market in China
By Device
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The mobile segment was the largest segment and was valued at USD 1,822.40 million in 2017. One of the main reasons for the higher conversion to online lottery customers across smartphone devices is the increasing effectiveness and relativity of lottery-related ads are personalized campaigns based on user information collected from search words, liked pages, and frequent interactions with the consumer. Additionally, there is a rise in widespread Internet penetration across China which enables players to play group games as well.
Furthermore, several market players can leverage mobile platforms to offer a more engaging experience to users and, thus, attract more customers. In addition, market players advertise other product offerings on this platform based on their level of gaming activities as well the type of games previously played, which helps them to increase their sales. Hence, such factors are expected to fuel the growth of this segment which, in turn, will drive the China online lottery market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
The online lottery market in China report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Online Lottery Market In China Scope |
|
Report Coverage |
Details |
Page number |
112 |
Base year |
2022 |
Historic period |
2018 - 2022 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.49% |
Market growth 2023-2027 |
USD 1,860.72 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
8.13 |
Regional analysis |
China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Baidu Inc., China Sports Lottery Operation and Management Co. Ltd., Gaming China, QQLotto, Shenzhen Yixun Sky Network Technology Co. Ltd., SINA Corp., and Zhaoqing Chuangwei Development Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Device
7 Market Segmentation by Product
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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