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The Lottery Market in North America is projected to grow by USD 50.25 billion with a CAGR of 5.4% during the forecast period 2021 to 2026.
This North American Lottery Market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the lottery market in North America segmentation by platform (traditional and online), and type (scratch-off games, terminal-based games, and sports lotteries). The lottery market in North America report also offers information on several market vendors, including Arizona Lottery, Camelot UK Lotteries Ltd., Colorado Lottery, Connecticut Lottery Corp., Delaware State Lottery, Florida Lottery, Flutter Entertainment Plc, Georgia Lottery Corp., Hoosier Lottery, Missouri Lottery, New York State Gaming Commission, Pennsylvania Lottery, Pollard Banknote Ltd., Scientific Games LLC, STRATACACHE, Texas Lottery Commission, and The California State Lottery among others.
Download Report Sample to Unlock the Lottery Market in North America Size for the Forecast Period and Other Important Statistics
Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends and challenges for the North American Lottery Market. During the COVID-19 pandemic, the demand in the lottery market in North America has been impacted significantly, but a holistic analysis of drivers will help in estimating exact demands and refining marketing strategies to gain a competitive advantage.
Key Lottery Market in North America Driver
New launches are a key factor driving the lottery market growth in North America. Vendors are focusing on organic growth strategies, such as the launch of new lottery game tickets and platforms. Vendors are introducing new games and tickets, both in traditional offline and online platforms, to encourage participation. JACKPOT TRIPLE PLAY is unique because, for $1, players get a triple chance to win the jackpot, as each ticket has three sets of numbers to match with the winning numbers drawn. Players can get an extra chance to win by combining all matches on the ticket by adding Combo for an extra $1. Such new launches are expected to drive the growth of the lottery market in North America during the forecast period.
Key Lottery Market in North America Trend
The integration of artificial intelligence (AI) in lottery platforms will fuel the lottery market growth in North America. Vendors across various industries are implementing AI solutions to improve their business processes. Lottery operators are also incorporating AI technology into their online gambling websites to improve the user experience. The integration of digital tools such as AI in lottery platforms is expected to augment the growth of the lottery market in North America. Lottery operators use AI to analyze the risk appetite behavior of users, find the most lucrative player, and predict the winners and losers during lottery games. This helps them make decisions on providing incentives and freebies to players. For instance, most major lottery operators in Macau, such as Las Vegas Sands and MGM Resorts International, use advanced technologies such as AI and facial recognition. AI is gaining traction among lottery operators. During the forecast period, the increasing use of AI among lottery operators is expected to maximize profits. Thus, the implementation of AI in the lottery industry will likely have a positive impact on the growth of the lottery market in North America during the forecast period.
Key Lottery Market in North America Challenge
Security and credibility issues related to lotteries are the major challenge to the lottery market growth in North America. Security and credibility issues in online lotteries are major challenges for the lottery market in North America. While the number of cybercrimes is on the rise in the region, incidents of people being defrauded over promises of winning an online lottery have become a concern. Most lottery websites do not have a proper dispute resolution framework, lack transparency in cash prize payouts, and do not have fair and responsible casino gaming standards, all of which reduce the credibility of gambling operators and platform providers. Such credibility issues affect the scaling of the lottery business and discourage new users from joining lottery games. Thus, security and credibility issues related to lotteries hinder the growth of the lottery market in North America during the forecast period.
This lottery market in North America analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the North American Lottery Market as a part of the global casinos and gaming market within the overall global hotels, restaurants, and leisure market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the lottery market in North America during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the lottery market in North America encompasses successful business strategies deployed by the key vendors. The lottery market in North America is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The report on the lottery market in North America contains comprehensive market knowledge and an in-depth vendor landscape add-on to an analysis of the key vendors.
Our In-house experts produce extensive information on the value chain and parent market of the lottery market in North America, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
The value chain of the global hotels, restaurants, and leisure market includes the following core components:
The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.
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The lottery market in North America share growth in the traditional platform segment will be significant during the forecast period. The traditional platform comprises offline lottery shops where users buy physical lottery tickets to participate in lottery events. The demand for offline lotteries is mainly driven by the expansion of lottery retailers, the increasing lottery prize money, and the liberalization of government regulations. Traditional platforms include casinos and designated outlets, which are typically found in residential areas. To expand their reach, vendors are focusing on new sales strategies and expanding into the retail selling model by deploying slot machines and partnering with retail outlets, such as supermarkets and convenience stores. Such strategies by vendors will drive the growth of the traditional platform segment of the lottery market in North America during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the lottery market in North America size and actionable market insights on the post-COVID-19 impact on each segment.
Lottery Market in North America Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.4% |
Market growth 2022-2026 |
$50.25 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.0 |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Arizona Lottery, Camelot UK Lotteries Ltd., Colorado Lottery, Connecticut Lottery Corp., Delaware State Lottery, Florida Lottery, Flutter Entertainment Plc, Georgia Lottery Corp., Hoosier Lottery, Missouri Lottery, New York State Gaming Commission, Pennsylvania Lottery, Pollard Banknote Ltd., Scientific Games LLC, STRATACACHE, Texas Lottery Commission, and The California State Lottery |
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, and Market condition analysis for the 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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