Throughout history, lotteries have been used to raise money for various charitable causes. In the United States, money from lotteries is used for school systems and public projects. In some countries, lotteries are used to raise funds for religious congregations. In China, a lottery game was played as early as 205 BC. Lotteries are still played today. They typically involve six-digit games with large jackpot prizes.
In the United States, lotteries are run by state and city governments. Many of these money-raising games are based on scratch-off tickets. In addition, dozens of countries around the world have active lottery programs. In some countries, lottery tickets are sold by local companies.
The lottery industry is currently estimated to grow at a CAGR of more than 9%. In 2017, draw-based games accounted for more than half of the total market share. This market segment is expected to witness the fastest growth during the forecast period. In addition, the increasing popularity of online websites in Europe will create lucrative opportunities for leading players in the lottery industry.
Lottery games are easy to play and offer large returns. Typically, lottery games involve the sale of numbered tickets, and the proceeds are typically set aside for public projects. The odds of winning vary by the country and the game. However, the odds of winning the Mega Millions jackpot are 20,000 times higher than the odds of lightning striking.
Lotteries are also popular in countries across Asia. Japan, Hong Kong, China and Malaysia are some of the largest markets in this segment. Sports betting is also increasing across many countries in the region. In addition, the popularity of online poker in APAC is contributing to market revenues. The rise of mass-gaming in Macau is also driving the development of the online lottery market in this region.
The online lottery market is classified based on product and segmented into online draw-based games, online instant games and online sports lotteries. Asia-Pacific is the largest region in the online lottery market, followed by North America. Amongst the online lottery market, North America accounted for the largest share of the overall market in 2017 and is projected to grow at a CAGR of more 6% during the forecast period.
The market report provides an in-depth analysis of the global lottery industry. It also offers key market insights based on historic and current market trends, competitive landscape, leading data sgp players, analysis of key applications, price and volume forecasts and more. It also provides a SWOT analysis, company profiles and market growth strategies. In addition, it also provides an analysis of key market restraints, opportunities and challenges. It also outlines key industry dynamics and market opportunities for the next five years.
The global lottery market is categorized into four regions: North America, Asia-Pacific, Europe and Latin America. The regional map displays revenue contribution of the leading countries in the global lottery market. The online lottery sub-segment is expected to experience the fastest growth during the forecast period.