Online Lotteries Will Increase By 2027 Due To Forecasts
The Reportlinker global industry analysts in the lotteries segment presented a report concerning this gambling sector's future. According to their forecasts, the lottery market will overpass $11 billion with the Compound Annual Growth Rate (CAGR) of about 6.6%. Login Casino continues publishing the latest lottery news, now analyzing the forecast in more detail.
The international market research solution Reportlinker is gathering worldwide data and makes comprehensive reports across different industries. Now they presented an outlook on the lottery sector, making the forecast up to 2027 and taking into account COVID-19 stressful effects. Moreover, the company analyzed the most significant markets by country and made predictions for each of them.
According to the report, the online lottery sector will increase from 7.1 billion dollars in 2020 to $11.1B in 2027. The company sees a smooth growth with a 6.6% Compound Annual Growth Rate. A draw-based online gambling game sector should reach 5.3 billion dollars, copying the overall CAGR rate of 6.6%. However, an online sports lotteries should rise by 7.4% in CAGR and grow from the recent $1.65B to approximately $2,7B.
The lower than average CAGR is expected in the online instant lotteries segment in the developed countries. According to the predictions, the Compound Annual Growth Rate will be about 5.3% in Europe, NA, and Japan, which will boost the total turnover from $900M to $1.3B in 2027 for those countries. However, South America is predicted to show about 7% of CAGR in the instant lotteries sector, while the Asia-Pacific region should reach $1.5B in seven years.
Online lotteries in 2027: the overview by countries
The biggest player in the lotteries' online market is still the US, which holds about 29% of the global size (about $2B now). The second-largest player in this segment is China, which has to have a 10.3% rate of CAGR and will reach $2.1 billion only in 2027. The other developed countries are predicted to show lower than average CAGR. For instance, Japan will grow only by 3.7%, Germany by 4.3%, and Canada by 6.1%.
Such forecast forces to consider China and Latin America as the most prospective markets for business investments concerning online lotteries. Moreover, the overall optimistic forecast makes this gambling niche a reliable place to invest in. Nevertheless, one has to remember that most national lotteries are under the tight control of local governments.
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