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Mexico - Lottery market size is estimated to grow at a CAGR of 9.3% between 2022 and 2027. The market size is forecast to increase by USD 3,537.24 million.
Our report offers in-depth analysis of market drivers, trends, opportunities, challenges, and restraints, with segmentation by Type (draw-based lotteries, sports lotteries, instant lotteries, and others). 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 2021.
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The notable driver behind the growth of the Mexico lottery market is the potential for a high return on investment (ROI). The market offers the chance for substantial ROI through rewards in the form of physical goods and monetary benefits, determined by the lottery's price and scheme. In Mexico, the maximum winning jackpot has no limit, contributing to the high ROI despite low winning odds.
Lotteries, known for providing the highest return in the gaming industry, allow customers to potentially win significant sums with just a few dollars invested. The entire prize money is guaranteed to be paid out on the event night, and the likelihood of winning a cash prize can be as high as 1 in 5. This trend of increased consumer investment in lottery tickets is expected to propel market growth in the forecast period.
The key trend shaping the Mexico lottery market is the growing prevalence of online lottery participation. Increased Internet and smartphone usage have led to a rising demand for online lotteries, with the market transitioning towards virtual platforms. The accessibility of the Internet and a variety of mobile apps facilitates consumer participation. Vendors leverage advanced technologies like graphics and interactive bots to attract participants.
Security and credibility issues, driven by a rise in cybercrimes targeting online lottery platforms, may hinder the growth of the Mexico lottery market. These concerns include the vulnerability of user information, the prevalence of lottery scams via various communication channels, and the lack of advanced cybersecurity measures on many platforms. Additionally, the absence of a robust dispute resolution framework and transparency in cash prize payouts diminishes the credibility of operators, discouraging new users and impacting the market's expansion in Mexico.
The market share growth by the offline segment will be significant during the forecast period. The offline platform includes land-based lottery shops where users can buy physical lottery tickets to participate in lottery events. The growth of the offline segment is attributed to factors such as the expansion of lottery retailers, increasing lottery prize money, and liberalization of government regulations.
Lottery Market in Mexico
By Platform
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The offline segment was valued at USD 3,558.43 million in 2017 and continued to grow by 2021. Lottery operators are focusing on expanding their retailer networks to provide customers with easy access to tickets. The offline platform in the lottery market in Mexico is likely to grow owing to the easy accessibility of lottery tickets. Vendors are also focusing on new sales strategies and are expanding into the retail selling model by deploying slot machines and partnering with retail outlets such as supermarkets and convenience stores. Such strategies will drive the growth of the offline platform segment 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 lottery market in Mexico 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.
Lottery Market In Mexico Scope |
|
Report Coverage |
Details |
Page number |
122 |
Base year |
2022 |
Historic period |
2018 - 2022 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.3% |
Market growth 2023-2027 |
USD 3,537.24 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.05 |
Regional analysis |
Mexico |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arizona Lottery, Bet365 Group Ltd., Electronic and Communication Media SAPI de CV, Ensenanza e Investigacion Superior AC, EU Lotto Ltd., Florida Lottery, Gammastack Inc., Georgia Lottery Corp., Hoosier Lottery, International Game Technology plc, Interwetten Gaming Ltd., INTRALOT SA, Juega Lotto SA de CV, Latino Arts Inc., Legacy Eight Curacao NV, New Mexico Lottery, Pennsylvania Lottery, Pollard Banknote Ltd., TECHNOLOGY IN CALIPLAY ENTERTAINMENT SAPI DE CV, and Winland Group |
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 Platform
7 Market Segmentation by Type
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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