Enjoy complimentary customisation on priority with our Enterprise License!
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. The recent launches of new smartphones have been accompanied by high penetration of smartphones and internet connectivity, which has contributed to a rise in spending on lottery tickets. This trend reflects the increasing digitalization of the services, making it more convenient for people to participate and leading to a surge in ticket purchases.
The market report also offers information on several market companies, 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 Market 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 Market.
Market Driver
New launches are a key factor driving the market. companies are focusing on organic growth strategies, such as the launch of new game tickets and platforms. companies are introducing new games and tickets, both in traditional offline and online platforms, to encourage participation. JACKPOT TRIPLE PLAY is unique because, for USD1, 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 USD1. Such new launches are expected to drive the growth of the market during the forecast period.
Market Trend
The integration of artificial intelligence (AI) in lottery platforms will fuel market growth. companies across various industries are implementing AI solutions to improve their business processes. These 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 these platforms is expected to augment the growth of the market. These operators use AI to analyze the risk appetite behavior of users, find the most lucrative player, and predict the winners and losers during the games. This helps them make decisions on providing incentives and freebies to players. For instance, most major 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 these operators. During the forecast period, the increasing use of AI among the operators is expected to maximize profits. Thus, the implementation of AI in the industry will likely have a positive impact on the growth of the market during the forecast period.
Market Challenge
Security and credibility issues related to lotteries are the major challenges to market growth in North America. Security and credibility issues in online lotteries are major challenges for the market. While the number of cybercrimes is on the rise in the region, incidents of people being defrauded over promises of winning have become a concern. Most of these 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 market during the forecast period.
This market 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.
The report analyzes the market’s competitive landscape and offers information on several market companies, including:
This statistical study of the market encompasses successful business strategies deployed by the key companies. The market in North America is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market.
The report on the market in North America contains comprehensive market knowledge and an in-depth vendor landscape add-on to an analysis of the key companies.
Our In-house experts produce extensive information on the value chain and parent market of the market, which companies 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 include 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.
To gain further insights on the market contribution of various segments Request a PDF Sample
The market share growth in the traditional platform segment will be significant during the forecast period. The traditional platform comprises offline shops where users buy physical tickets to participate in the events. The demand for offline lotteries is mainly driven by the expansion of 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, companies 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 companies will drive the growth of the traditional platform segment of the market during the forecast period.
The market is undergoing a significant transformation, driven by the adoption of Blockchain-based platforms and the increasing popularity of Online Lottery games. This market encompasses various segments, including Draw-based games, Instant games, and Sport games. The advent of Mobile payment methods has greatly enhanced convenience for customers, leading to a notable surge in revenue within the Gaming sector. Blockchain technology is playing a crucial role in ensuring security and transparency for both Stakeholders and players. Additionally, the market is influenced by factors such as Big data and the Internet of Things (IoT). Despite facing regulatory challenges, Global Online Lottery Companies are expanding their offerings leveraging platforms like Social media and taking advantage of Smartphone penetration to attract a wider audience.
Furthermore, the market is a dynamic sector with a wide range of offerings. The market is influenced by various factors such as Lottery popularity, Internet connections, and Global Internet Penetration. Blockchain-lottery platforms are gaining traction due to their ability to provide secure and transparent transactions. Smart contracts are also being used to ensure fair play and protect players' interests. Mobile application-based lottery games have become increasingly popular. This trend has led to a shift in Marketing and Promotions strategies towards Social media marketing and targeted advertising to reach a broader audience. Despite facing challenges such as Regulatory and Legal Challenges and Cybersecurity and Fraud concerns, the market is expected to continue its growth trajectory, fueled by Technological Advancements and Rising Disposable Income. The Global Lottery Market is a dynamic and lucrative industry, offering various games and formats to players worldwide. From traditional Numbered tickets to modern Online Lottery platforms, the market has evolved significantly over the years. Key segments in the market include The Lotto, Quizzes Type Lottery, Numbers Game, Scratch-off Instant Games, and Terminal-based games, each catering to different player preferences.
Governments often regulate the National or state lottery to ensure fairness and transparency. Despite its popularity, the industry faces challenges such as Banking security, Encryption, and Technological Challenges. To address these issues, operators employ RNG software and ensure Banking security measures are in place. Additionally, they conduct Qualitative analysis and Quantitative analysis to understand market trends and player behavior better. With the advent of online platforms, the market has seen a surge in Convenience and Accessibility, attracting a larger audience. However, challenges such as Payment Processing Issues, Competition from Illegal Operators, and Responsible Gambling Concerns persist. Despite these challenges, the market is expected to continue growing, driven by factors such as Diversification of Games, Marketing Opportunities, and Cross-Border Participation.
The landscape of gaming and gambling has evolved significantly in recent years, with traditional draw-based games transitioning into virtual experiences accessible on the internet. Lottery store, once the primary venue for purchasing tickets, now share space with online platforms catering to a diverse array of virtual games. As internet usage continues to grow, so does the prevalence of online gaming. Virtual games offer convenience and accessibility to a broad spectrum of users, transcending geographical boundaries and time constraints. However, this shift has also brought about changes in betting processes, with online platforms offering a wide range of options and betting formats to cater to diverse preferences.
North America Lottery Market 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 |
USD 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 forecast, market forecast, Graphics, Gaming on the internet, Cybercrime, Market Forecasting, 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 market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Platform
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.