The Global Online Lottery Industry Rockets Along Amidst COVID-19

Playing a lottery and winning a jackpot is what everyone has thought about at least once in their lifetime. Who wouldn’t love to rake in potentially millions of dollars in the winnings of a jackpot? The global online lottery industry, despite its offline counterpart being affected, has rocketed all across the world.

The Status of Lottery

According to a survey conducted in the USA in late 2019, almost half of the adult American population spend more than a 1000 dollars each year on lotteries, starting from scratch cards coming out of the vending machines, to the big lotteries like PowerBall and MegaMillions.

According to the U.S. Census Bureau, American citizens collectively spent more than 71 billion dollars on lotteries in 2017. And Americans aren’t the only ones spending on the lottery. The majority of Asian and European countries have their own state-sponsored lotteries, all with huge sales.

Suggested reading: How online gambling is affected by global lockdowns?

Now, with the popularity of online lottery rising, sales are only set to increase. Previously, an individual residing outside the USA or Europe could only dream of winning millions and sometimes billions of dollars in PowerBall or EuroMillions. But now, anybody around the world can log into a reputed lottery website, and purchase a ticket for their favorite lottery, right from their homes.

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Lottery and the Data

In their 9th edition of ‘Online Lottery-Global Market Trajectory and Analytics‘, Reasearchandmarkets.com {link to report} has made some interesting observations. The global online lottery sales are estimated to reach around 7.1 billion dollars in 2020, and the sales target for 2027 has now been revised to 11.1 billion dollars, growing at the CAGR of 6.6% from 2020 to 2027.

The most popular online lottery game is the draw based lotteries, which will reach about 5.3 billion dollars in 2027. Online sports lotteries account for a share of 23.2% currently and are expected to grow at a CAGR of 7.4% for the next 7 years. Instant lottery accounts for a 16.9% share in 2020. USA, Canada, Europe, China, and Japan account for nearly 900 million dollar sales in this and is expected to reach 1.3 billion dollars at a CAGR of 5.3% by 2027.

Going by the countries.

  • The USA currently has about 2 billion dollars in online lottery sales, which is a 28.89% share in total global sales.
  • China’s sales are expected to grow at 10.4% CAGR to reach 2.1 billion dollars in sales by 2027.
  • Japan’s sales are expected to grow at 3.7%, and Canada at 6.1%.
  • Sales in Germany will grow at an approximate CAGR of 4.3%, and other European countries are expected to clock in sales of 2.1 billion dollars by 2027.
  • The Asia-Pacific market including India, South Korea, and Australia are forecast to reach 1.5 billion dollars, and Latin America is expected to grow at a 7% CAGR.

In the current pandemic, as more people are confined within their homes, the popularity of online activities has surged. Online gambling and internet gaming have been increasingly popular amongst the masses.

Lotteries and COVID-19

Taking advantage of this increased time spent online by individuals, online vendors are aggressively pushing forward their lottery products ranging from scratch cards, sports-based lotteries, and number games.

Affiliate programs like 24Monetize, which promote some of the biggest lotteries in the world, including Powerball, MegaMillions, and EuroMillions, are driving enormous sales in the online lottery market.

Increased penetration of the internet, and rapid adoption of smartphones, especially in emerging markets like India, has given a huge boost to the online lottery sales via mobile websites and apps.

More and more leading vendors are launching dedicated lottery games and apps for consumers playing from their mobile phones. Increased security of data and increased regulations have built confidence in the minds of players that the products are safe to use and the transactions are indeed genuine.

Buying a lottery ticket is usually considered to be an impulsive decision. And with more free time available on hand, and in the hope of winning some easy cash in these times of financial distress for many, online lottery sales are soaring globally.

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