Lottery Market in Mexico 2017-2021

Overview of the lottery market in Mexico

Technavio’s market research report foresees the lottery market in Mexico to grow at a CAGR of nearly 10% during the forecast period. One of the primary driving factors of the market’s growth is the high potential ROI. In the lottery market, the rewards are offered in the form of physical goods and monetary benefits based on the price and scheme of the lottery. Compared to China, the maximum winning jackpot has no limit in Mexico and the chances are winning low, but the ROI is high. The increasing investment by consumers in lottery tickets with hope for winning the jackpot is one of the main driving factor that fuels the market’s growth.

One of the latest trends in the lottery market in Mexico that will gain traction is the increasing popularity of electronic devices such as smartphones and tablets. The conventional lotteries are rapidly being digitized so that they can be accessed through mobile apps. This helps increase offline sales of the tickets. On the other hand, mobile devices allow users to compare ticket prices and find nearby stores for purchasing the tickets. Users now can pay for the lottery tickets from their mobile devices with the mobile wallets, thus, driving the lottery market for the next four years.

Competitive analysis and key vendors 

The changing consumer preferences, extreme competition, and quick improvements in the technology are the some of the risk factors for the vendors looking to establish themselves in the lottery market in Mexico. Most of the leading players are adopting extreme marketing tactics and are investing in revamping, innovating, and widening their current product lines. This, in turn, facilitates the market’s growth by allowing the entry of new players in the online lottery market to attract new customers and hold a large market share. Moreover, lottery number providers need to find strategies to beat the competition and distinguish their product and services to stay updated with the current trends.

Key vendors in the market are:

• Mexico National Lottery
• INTRALOT
• SORTEO GAMES

Segmentation of the type and analysis of the lottery market in Mexico

• Draw-based Lottery
• Sports Lotteries
• Instant Lotteries

In 2016, the draw-based lottery segment led the market and is the most common type of lottery in the country, which is expected to dominate the segment for the next four years. There are multiple variants of draw-based lottery such as Lotto, Powerball, sports and instant, where instant lottery is the fastest-growing segment in the online lottery market.  

Segmentation by type and analysis of the lottery market in Mexico

• Online
• Offline

As per the Technavio’s market report, the offline lotteries segment market holds the highest share and is foreseen to lead the lottery market during the next four years. Factors like the rise in disposable incomes of the people and popularity of the offline lotteries among low-middle and low-income population augments the growth of the online lottery market in Mexico.

Growth drivers, challenges, and upcoming trends: Rising Promotion of Lottery Through Social Media

One of the widely-used promotion strategies for the lottery companies to attract a large number of users is social media. Companies post the winning prizes on social networking sites like Facebook, Twitter, and Google+, which in turn has led to a rise in the sales of various lottery tickets. Moreover, the lottery vendors and winners have increasingly started adding Twitter feeds to promote jackpots. 

This report provides a number of factors contributing to the adoption, limitations, and opportunities of the lottery market in Mexico. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the lottery market in Mexico?
• What are the key market trends impacting the lottery market in Mexico?
• What are the challenges to market growth?
• Who are the key vendors in the lottery market in Mexico?
• What are the market opportunities and threats faced by the vendors in the lottery market in Mexico?
• What are the key outcomes of the five forces analysis of the lottery market in Mexico?

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