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Global Lottery Market Expected to Garner $430.4 Billion in the 2022-2031 Timeframe, Growing at 3.8% CAGR [210-Pages] | Backed by Research Dive
According to the latest report published by Research Dive, the global lottery market is predicted to rise at a tremendous CAGR of 3.8%, thereby garnering a revenue of $430.4 billion in the 2022-2031 timeframe. This integrated report presents a brief outlook of the current framework of the global market including its cardinal features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2022-2031. All the necessary market figures are also provided in this report to help new entrants analyze the market easily.
Dynamics of the Market
Drivers: Increasing popularity of online lottery due to expansion of cellphones and the Internet in the last few years is expected to become the primary growth driver of the lottery market in the forecast period. Moreover, growing use of block chain technology in lottery systems is expected to help the market grow substantially in the forecast period.
Opportunities: Increasing interest of consumers towards gambling is predicted to offer numerous growth opportunities to the market in the forecast period. Along with this, growing adoption of smartphones has led to an increase in popularity of online lottery which is estimated to push the market forward.
Restraints: Market analysts are however skeptical about the full-paced growth of this market owing to several governmental rules and regulations, which might prove to be a restraint for the lottery market.
Impact of Covid-19 on the Market
The novel coronavirus had wreaked havoc in the world. The lockdowns put in place to curb the virus affected various industries and their production cycles. The lottery market faced a challenging time during the pandemic. Economic losses faced by people across the globe compelled them to move away from lotteries. Also, the lockdowns forced lottery establishments like casinos, clubs, poker rooms, etc., to shut down which further brought down the growth rate of the market during the pandemic.
Segments of the Market
The report has divided the lottery market into certain segments based on type, application, and region.
Type: Lotto Sub-segment to be Highly Profitable
By type, the lotto sub-segment is expected to be one of the most dominant sub-segments by 2031. The biggest advantage of Lotto lottery systems is that they are accessible from within the country as well as from other countries. This utility of Lotto systems is predicted to boost the growth of this sub-segment in the forecast period.
Application: Online Store Sub-segment to Have a Huge Market Share
By application, the online store sub-segment is expected to have a significant market share during the 2022-2031 timeframe. Increasing shift from traditional lotteries to online platforms is predicted to push the sub-segment forward.
North America Region to be Most Lucrative
By regional analysis, the lottery market in North America region is expected to become the most lucrative sub-segment in the forecast period. Increased technological acceptance and growing levels of disposable incomes among the population of this region are expected to be some of the main growth drivers of the market in the forecast period.
Prominent Market Players
Some of the prominent players of the lottery market are
- INTRALOT
- Francaise des Jeux
- Hong Kong Jockey Club
- MDJS
- Mizuho Bank Ltd.
- Singapore Pools
- Loterías y Apuestas del Estado
- California Lottery
- Camelot Group
- Florida Lottery
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a prominent position in the market.
For instance, in December 2022, Allwyn AG, a lottery operator in Europe, announced the acquisition of Camelot Lottery Solutions, a leading lottery operator. This acquisition is expected to help Allwyn to expand its business all across the globe and push the market forward in the coming period.
Finally, the report also summarizes many crucial aspects of the global market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
Blockchain
Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity
Kore Digital Mining Ltd, a UK based Bitcoin mining company, announces that effective 1st May 2024, an additional 14 PH/s mining capacity will be added to its existing infrastructure.
This additional capacity will be provided by a major Bitcoin mining corporation and will be operational until 30th June 2024.
Derek Nisbet, Kore’s Founder & CEO, said – “We are pleased to work with a leading Bitcoin Miner in securing a large amount of mining capacity, for a 2 month trial period. We look forward to hopefully extending this period and engaging more with major mining corporations offering Bitcoin hashing opportunities, in the future.”
This additional 14PH/s Bitcoin mining capacity adds to the existing 2 PH/s currently operational with Kore’s own infrastructure and an additional 4 PH/s is due to be added over the next quarter, totalling 20 PH/s.
Latest News
The Benefits of Playing at EU Casinos
There are many EU casinos that not only attract players from Europe itself but also from countries around the world, including the US, UK, and even those from countries where online gambling isn’t permitted. So why is it that EU casinos are so popular? What drives the online gambling community to these casinos?
Well, that’s what we’re going to be looking at today. What’s so attractive about EU casinos to people who are looking for an immersive and entertaining online casino experience? Why do people in the USA, the home of Las Vegas, go outside of the USA to play at online casinos?
Benefits of EU casinos
Online gambling is by far one of the most popular methods of gambling online. Throughout Europe, specific laws in each country can vary, so access to land-based casinos can sometimes be few and far between. Thus, going online to enjoy a casino experience has become a more preferable option. And so why EU casinos? Well, for those who are joining EU casinos from outside Europe and not from the UK or the US, the English-based support and customer service are very attractive. A lot of people who play at EU casinos access it using a VPN or from a country where they don’t have any domestic online casinos, and most of the time English is their first language or one that they can understand.
The next attractive factor regarding EU online casinos is safety and security. Each online casino in the EU is strictly regulated and licensed. It’s this reassurance that a lot of players look for when choosing an online casino to go to and play at. They are held to the same strict and high standards as those of their British counterparts in the UK, which are upheld and monitored by the UK Gambling Commission. In the EU, a lot of the casinos are also regulated by either the Malta Gaming Authority or the Curacao Gaming Licence Authority. All of which share the same standards and expectations as other authorities across theglobe,e which ensures that all players playing online at EU casino websites.
The casinos that are available online in the EU are also very open to a lot of different payment methods. There are even some crypto casinos where you can play casino games online with cryptocurrency. This openness to accepting a lot of different payment methods means a lot to people who like to play at online casinos. The vast majority of them also pride themselves on providing very quick withdrawals, which are measured in hours rather than days. After all, there is nothing more frustrating than having a big win and then having to wait days to get your hard-fought winnings.
And lastly, bonuses and promotions. The vast majority of EU online casinos will have a wide range of different bonuses and promotions that you can sign up for and take advantage of. There are certain countries, such as Sweden, where the online casinos are strictly limited to one bonus or one promotion; however, the vast majority of EU casinos are not subject to such restrictions and offer a great online casino experience.
When it comes to the popularity of EU online casinos, it is growing year on year. There is plenty going in their favour and more people than ever before are shifting to online casinos rather than having to go down to the casino themselves. The fact that they can access these EU casinos from their smartphones, wherever they are, means it’s easier than ever before to win big at a casino online and have a good time.
Latest News
William Hill Announced as Official Betting Partner of Qipco Guineas Festival
Leading bookmaker becomes official betting partner of first UK Classic meeting of 2024
William Hill has been announced as the new official betting partner of the Qipco Guineas Festival, the first UK Classic meeting of the season.
It’s the latest addition to William Hill’s spring racing roster, following sponsorship of The Lincoln Handicap at Doncaster, the Punchestown Champion Chase and its status as official betting partner of the Randox Grand National Festival.
The 2,000 and 1,000 Guineas headline the three-day meeting and the leading bookmaker will sponsor 15 races across the weekend with the Jockey Club Stakes, Palace House and Dahlia Stakes among the races now featuring the William Hill title.
Aidan O’Brien’s unbeaten superstar City of Troy is still all the rage for the 2,000 Guineas at 4/6 whereas Karl Burke’s Fallen Angel heads a competitive looking 1,000 Guineas market at 7/2.
“We’re delighted to become the official betting partner of the Qipco Guineas Festival, strengthening our relationship with The Jockey Club on the back of a fantastic Grand National Festival,” a spokesperson for William Hill, Lee Phelps, said. “It’s brilliant for William Hill to be associated directly with such a prestigious event at Newmarket, the home of the thoroughbred, for this season’s first two Classics. The company has a close connection with the history of the 2,000 Guineas as William Hill himself bred the 1949 winner, Nimbus, who then went on to win the Derby.
“We’re excited to be involved at racing’s key meetings and see the Qipco Guineas Festival as the perfect sponsorship as the British flat season kicks into gear.”
Newmarket – 2,000 Guineas: May 4, 2024
City Of Troy | 4/6 |
Rosallion | 4/1 |
Notable Speech | 12/1 |
Henry Longfellow | 12/1 |
Night Raider | 16/1 |
Alyanaabi | 16/1 |
Ancient Wisdom | 16/1 |
Task Force | 16/1 |
Ghostwriter | 16/1 |
Iberian | 20/1 |
BAR | 25/1 |
Newmarket – 1,000 Guineas: May 5, 2024
Fallen Angel | 7/2 |
Ylang Ylang | 4/1 |
Dance Sequence | 5/1 |
Ramatuelle | 10/1 |
See The Fire | 12/1 |
Content | 12/1 |
One Look | 14/1 |
Pretty Crystal | 14/1 |
Buttons | 20/1 |
Purple Lily | 20/1 |
Porta Fortuna | 20/1 |
Star Style | 20/1 |
BAR | 25/1 |
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