Lottery Market in US by Type and Platform - Forecast and Analysis 2021-2025

The lottery market share in US is expected to increase by USD 27.90 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.96%.

This lottery market research report of US provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers lottery market segmentation in US by type (scratch-off games, terminal-based games, and sports lotteries) and platform (traditional and online). The lottery market report of US also offers information on several market vendors, including Arizona Lottery, Connecticut Lottery Corp., Florida Lottery, International Game Technology plc, New York State Gaming Commission, Pennsylvania Lottery, Pollard Banknote Ltd., Scientific Games Corp., Texas Lottery Commission, and The California State Lottery among others.

What will the Lottery Market Size in US be During the Forecast Period?

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Lottery Market in US: Key Drivers, Trends, and Challenges

The high penetration of smartphones is notably driving the lottery market growth in US, although factors such as socio-economic impact of lotteries may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the lottery industry in US. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Lottery Market Driver in US

Smartphone penetration is increasing because of the declining average selling price of smartphones and developments in communication network infrastructure. Smartphones provide a convenient and intuitive interface for playing casino games and e-sports. Moreover, smartphones are becoming significant platforms for online gambling as they provide ease of access to casino games and e-sports betting. Additionally, lottery apps available on smartphones allow users to win jackpots in a faster, easier, and more convenient manner. Furthermore, smartphones support many mobile-based payment solutions and also let vendors cross-sell other products in their portfolios. Thus, the high penetration of smartphones will significantly influence the growth of the lottery market in the US during the forecast period.

Key Lottery Market Trend in US

The emergence of big data and the increasing adoption of IoT devices is expected to create new growth opportunities for the lottery market in the US. With the use of data analytics, operators can perform a comprehensive analysis of the lottery landscape, which can be used to predict trends, forecast demand, target customers based on their habits and preferences, and determine the appropriate content to be showcased. By leveraging technology in sales channels and other facets of the lottery business, vendors can increase their customer base and maintain a competitive advantage. Also, by using virtual reality and artificial intelligence, vendors provide a more realistic and omni-channel experience and observe consumers’ buying and playing patterns. Hence, technological advancements will help vendors in gaining a competitive advantage in the market.

Key Lottery Market Challenge in US

Lottery impacts the social and economic environment of a country, which remains a major concern among authorities and the general public. Lotteries can lead to addiction, loss of sleep, and depression due to high debt and bankruptcy, which can impact the social and economic environment of a country. On average, gambling addicts have more than double the debt as compared to non-gambling households, and such effects can be seen across various states of the US. With the growing popularity of lotteries, the crime rate is also increasing as people addicted to lotteries try to find ways to finance their addiction and end up committing crimes or illegal activities such as passing counterfeit money, theft, and fraud. These, in turn, will restrict the growth of the market. 

This lottery market analysis report of US 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 2021-2025.

Who are the Major Lottery Market Vendors in US?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Arizona Lottery
• Connecticut Lottery Corp.
• Florida Lottery
• International Game Technology plc
• New York State Gaming Commission
• Pennsylvania Lottery
• Pollard Banknote Ltd.
• Scientific Games Corp.
• Texas Lottery Commission
• The California State Lottery

This statistical study of the lottery market in US encompasses successful business strategies deployed by the key vendors. The lottery market in US is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from 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 lottery market forecast report of US offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

What are the Revenue-generating Type Segments in the Lottery Market in US?

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The lottery market share growth in US by the scratch-off games segment will be significant during the forecast period. Scratch-off games include the commonly known scratch cards, which are quick and easy to play. Owing to the low cost of scratch-off cards and the instant chances to win price, the popularity of scratch-off games is rising. Moreover, this type of lottery does not require any skills or calculations in order to win. Vendors operating in this segment are growing their market share by introducing more scratch-off games.

This report provides an accurate prediction of the contribution of all the segments to the growth of the lottery market size in US and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Lottery Market Report of US?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive lottery market growth in US during the next five years
• Precise estimation of the lottery market size in US and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of lottery market vendors in US

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