Online Lottery Market in China Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026
- Published: Mar 2022
- Pages: 120
- SKU: IRTNTR72728
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The online lottery market share in China is expected to increase by USD 3.67 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.13%.
This online lottery market in China research report 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 online lottery market in China segmentation by product (lotto, sports, VLT, and scratch card) and device (mobile and desktop). The online lottery market in China report also offers information on several market vendors, including Baidu, BIT Mining Ltd., China Sports Lottery Operation and Management Co. Ltd., Gaming China, QQLotto, SINA Corp., and Zhaoqing Chuangwei Development Co. Ltd. among others.
What will the Online Lottery Market Size in China be During the Forecast Period?
Download the Free Report Sample to Unlock the Online Lottery Market Size in China for the Forecast Period and Other Important Statistics
Online Lottery Market in China: Key Drivers, Trends, and Challenges
The increased reach of online lottery is notably driving the online lottery market growth in China, although factors such as online scams and negative impacts 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 online lottery industry in China. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Online Lottery Market Driver in China
The increased reach of online lottery is one of the key drivers supporting the online lottery market growth in China. The online lottery is played through computer and mobile devices, which have higher adoption among the youngsters. In addition, mobile ads, being one of the strongest mediums of advertising, reach those untapped groups of the population who refrain from going to a place where betting is allowed and encourage them to try the game online. Moreover, the online sports lottery in China has been driving the market growth. For instance, Chinese lottery sales raised to $58.67bn in 2021, up 11.8% from COVID-hit 2020, when retail sales were suspended for a large part of the year. The sports lottery made up the majority of the total, which was 22% more than that of 2020. Thus, the market will grow positively during the forecast period.
Key Online Lottery Market Trend in China
Introduction of new types of lotteries is another factor supporting the online lottery market growth in China. For instance, Chinese lottery sales raised to $58.67bn in 2021, up 11.8% from Covid-hit 2020 when retail sales were suspended for a large part of the year. The Sports Lottery made up the majority of the total, which was 22% more as compared to 2020. Moreover, in September 2021, AGTech Holdings's Chinese subsidiary won tenders to supply terminals to eight more provincial sports lotteries in the country. It will continue to enhance product innovation, ensure safety, R&D compliance, and contribute to the overall healthy development of China's lottery market. Thus, the aforementioned factors are expected to introduce more innovative lottery options to attract buyers. Such innovations are expected to positively impact the market growth during the forecast period.
Key Online Lottery Market Challenge in China
Online scams and negative impacts are some of the factors hindering the online lottery market growth in China. Moreover, the lottery 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. People addicted to the lottery tend to spend well beyond their means. On average, gambling addicts have more than double the debt as compared to non-gambling households, and such effects can be seen across China. 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. This, in turn, it will restrict the growth of the market during the forecast period.
This online lottery market in China 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.
Parent Market Analysis
Technavio categorizes the online lottery market as a part of the global casinos and gaming 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 online lottery market in China during the forecast period.
Who are the Major Online Lottery Market Vendors in China?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Baidu
- BIT Mining Ltd.
- China Sports Lottery Operation and Management Co. Ltd.
- Gaming China
- QQLotto
- SINA Corp.
- Zhaoqing Chuangwei Development Co. Ltd.
This statistical study of the online lottery market in China encompasses successful business strategies deployed by the key vendors. The online lottery market in China is concentrated and the vendors are deploying growth strategies such as price, variety, and innovation to compete in the market.
Product Insights and News
- Baidu is a privately held company that is headquartered in China. It is a global company and information regarding its finances is limited. Its revenue from the online lottery market in China contributes to its overall revenues, along with its other offerings, but is not a key revenue stream for the company.
- Baidu-The company offers lottery services where you can simply select 6 numbers from 1 to 49.
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 online lottery market in China forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Online Lottery Market in China Value Chain Analysis
Our report provides extensive information on the value chain analysis for the online lottery market in China, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the casinos and gaming market includes the following core components:
- Inputs
- Operations
- Services
- Marketing and sales
- Support activities
- Innovations
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
What are the Revenue-generating Product Segments in the Online Lottery Market in China?
To gain further insights on the market contribution of various segments Request for a FREE sample
The online lottery market share growth in China by the lotto segment will be significant during the forecast period. Lotto betting websites do not buy tickets, rather allow players to be spectators and bet on the outcomes of official lottery games. Also, there are various websites are available in China which offer customers to play lotto, for instance, jackpot.com and others. Additionally, the high reward price for these allure many players in the country. Such exciting rewards are expected to boost the segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the online lottery market size in China and actionable market insights on post COVID-19 impact on each segment.
|
Online Lottery Market Scope in China |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2021 |
|
Forecast period |
2022-2026 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.13% |
|
Market growth 2022-2026 |
$ 3.67 billion |
|
Market structure |
Concentrated |
|
YoY growth (%) |
4.23 |
|
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
|
Key companies profiled |
Baidu, BIT Mining Ltd., China Sports Lottery Operation and Management Co. Ltd., Gaming China, QQLotto, SINA Corp., and Zhaoqing Chuangwei Development Co. Ltd. |
|
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 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. |
What are the Key Data Covered in this Online Lottery Market in China Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive online lottery market growth in China during the next five years
- Precise estimation of the online lottery market size in China and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the online lottery industry in China
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of online lottery market vendors in China
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 5
Exhibit 04: Key Finding 6
Exhibit 05: Key Finding 7
2. Market Landscape
2.1 Market ecosystem
Exhibit 06 Parent market
Exhibit 07: Market characteristics
2.2 Value Chain Analysis
Exhibit 08: Value chain analysis : Casinos and Gaming
2.2.1 Inputs
2.2.2 Operations
2.2.3 Services
2.2.4 Marketing and sales
2.2.5 Support activities
2.2.6 Innovations
3. Market Sizing
3.1 Market definition
Exhibit 09: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 10: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 - 2026
Exhibit 11: Global - Market size and forecast 2021 - 2026 ($ million)
Exhibit 12: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 13: Five forces analysis 2021 - 2026
4.2 Bargaining power of buyers
Exhibit 14: Bargaining power of the buyer
4.3 Bargaining power of suppliers
Exhibit 15: Bargaining power of the supplier
4.4 Threat of new entrants
Exhibit 16: Threat of new entrants
4.5 Threat of substitutes
Exhibit 17: Threat of substitutes
4.6 Threat of rivalry
Exhibit 18: Threat of rivalry
4.7 Market condition
Exhibit 19: Market condition - Five forces 2021
5. Market Segmentation by Product
5.1 Market segments
Exhibit 20: Product - Market share 2021-2026 (%)
5.2 Comparison by Product
Exhibit 21: Comparison by Product
5.3 Lotto - Market size and forecast 2021-2026
Exhibit 22: Lotto - Market size and forecast 2021-2026 ($ million)
Exhibit 23: Lotto - Year-over-year growth 2021-2026 (%)
5.4 Sports - Market size and forecast 2021-2026
Exhibit 24: Sports - Market size and forecast 2021-2026 ($ million)
Exhibit 25: Sports - Year-over-year growth 2021-2026 (%)
5.5 VLT - Market size and forecast 2021-2026
Exhibit 26: VLT - Market size and forecast 2021-2026 ($ million)
Exhibit 27: VLT - Year-over-year growth 2021-2026 (%)
5.6 Scratch card - Market size and forecast 2021-2026
Exhibit 28: Scratch card - Market size and forecast 2021-2026 ($ million)
Exhibit 29: Scratch card - Year-over-year growth 2021-2026 (%)
5.7 Market opportunity by Product
Exhibit 30: Market opportunity by Product
6 Market Segmentation by Device
6.1 Market segments
Exhibit 31: Device - Market share 2021-2026 (%)
6.2 Comparison by Device
Exhibit 32: Comparison by Device
6.3 Mobile - Market size and forecast 2021-2026
Exhibit 33: Mobile - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Mobile - Year-over-year growth 2021-2026 (%)
6.4 Desktop - Market size and forecast 2021-2026
Exhibit 35: Desktop - Market size and forecast 2021-2026 ($ million)
Exhibit 36: Desktop - Year-over-year growth 2021-2026 (%)
6.5 Market opportunity by Device
Exhibit 37: Market opportunity by Device
7. Customer landscape
Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
7.1 Overview
Exhibit 38: Customer landscape
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Increased reach of online lottery
8.1.2 High jackpot pay-outs for winners
8.1.3 Unique marketing techniques in online lottery segment
8.2 Market challenges
8.2.1 Online scams and negative impacts
8.2.2 High tax imposed by government and stringent regulations
8.2.3 Competition from casino market
Exhibit 39: Impact of drivers and challenges
8.3 Market trends
8.3.1 Introduction of new types of lotteries
8.3.2 Public image enhancement
8.3.3 Advanced technologies
9. Vendor Landscape
9.1 Overview
Exhibit 40: Vendor landscape
9.2 Landscape disruption
Exhibit 41: Landscape disruption
Exhibit 42: Industry Risk
9.3 Competitive Scenario
10. Vendor Analysis
10.1 Vendors covered
Exhibit 43: Vendors covered
10.2 Market positioning of vendors
Exhibit 44: Market positioning of vendors
10.3 Baidu
Exhibit 45: Baidu - Overview
Exhibit 46: Baidu - Product and service
Exhibit 47: Baidu - Key offerings
10.4 BIT Mining Ltd.
Exhibit 48: BIT Mining Ltd. - Overview
Exhibit 49: BIT Mining Ltd. - Product and service
Exhibit 50: BIT Mining Ltd. - Key offerings
10.5 China Sports Lottery Operation and Management Co. Ltd.
Exhibit 51: China Sports Lottery Operation and Management Co. Ltd. - Overview
Exhibit 52: China Sports Lottery Operation and Management Co. Ltd. - Product and service
Exhibit 53: China Sports Lottery Operation and Management Co. Ltd. - Key offerings
10.6 Gaming China
Exhibit 54: Gaming China - Overview
Exhibit 55: Gaming China - Product and service
Exhibit 56: Gaming China - Key offerings
10.7 QQLotto
Exhibit 57: QQLotto - Overview
Exhibit 58: QQLotto - Product and service
Exhibit 59: QQLotto - Key offerings
10.8 SINA Corp.
Exhibit 60: SINA Corp. - Overview
Exhibit 61: SINA Corp. - Product and service
Exhibit 62: SINA Corp. - Key offerings
10.9 Zhaoqing Chuangwei Development Co. Ltd.
Exhibit 63: Zhaoqing Chuangwei Development Co. Ltd. - Overview
Exhibit 64: Zhaoqing Chuangwei Development Co. Ltd. - Product and service
Exhibit 65: Zhaoqing Chuangwei Development Co. Ltd. - Key offerings
11. Appendix
11.1 Scope of the report
11.1.1 ????Market definition
11.1.2 ????Objectives
11.1.3 ????Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 66: ?Currency conversion rates for US$?
11.3 Research Methodology
Exhibit 67: ?Research Methodology
Exhibit 68: ??Validation techniques employed for market sizing?
Exhibit 69: ??Information sources
11.4 List of abbreviations
Exhibit 70: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Frequently Asked Questions?
- Increased reach of online lottery
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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