Research and Markets, an authority in market research, recently published a report projecting the growth of the global online lottery market from 2024 to 2032. The projections are exciting.
According to Research and Markets, the global iLottery market became an industry worth $11 billion in 2023. The company expects it to grow to $17.7 billion by 2032 due to increased online lottery ticket sales, including lottery draw games and instant win games.
If these projections hold true, the industry will exhibit a 5.43% compound annual growth rate (CAGR) from last year to 2032. This amounts to a 60.9% expansion in about a decade.
iLottery industry just scratching the surface
The global iLottery industry has grown as a direct result of technological advancements:
- More people have access to smartphones and reliable, high-speed internet than ever before.
- Games are more interactive and immersive, even beginning to incorporate virtual and augmented reality (VR/AR) components.
- Regulated online lotteries can provide a safe, secure user experience due to encrypted online payment methods.
In other words, more players have access to better games on software they trust.
Online lotteries also allow operators to run promotions, advertise on social media, and implement other governmental initiatives at a lower cost. These pricing advantages yield a higher return on investment.
Considering these factors, it’s no surprise online lotteries are growing at a healthy rate.
And technology will continue to expand, as well. It makes perfect sense the online lottery market will extend with it.
Research and Markets localizes a global report
Research and Markets segmented the global iLottery report in multiple ways, including product types, platforms, regions, and major companies.
Some examples of these breakdowns include:
- Product type: The Lotto, Quizzes Type Lottery, Numbers Game, Scratch-offs and others
- Platform: Desktop and mobile/app-based
- Region: Regions and continents like North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa; also countries like the US, Canada, Japan, UK, France, Mexico, etc.
- Companies: A total of 12 companies, including Camelot Group, Jackpot.com, Lotto Agent, and IGT, which recently committed to becoming a “pure play global lottery business.”
Goals of the online lottery report
The 135-page report sought to answer eight questions:
- The size of the global online lottery market at the end of 2023
- Its expected growth rate between 2024 and 2032
- Key factors driving the market
- The impact of COVID-19 on the market
- Global lottery market share based on product type
- Global lottery market share based on platform
- Key regions driving the market
- Key players and companies driving the market
Online lotteries available in 13 US markets
While the global online lottery industry continues to boom, the US has only 12 states with online lotteries, along with the Washington, DC market.
New York Senator Joseph Addabbo’s recent attempts to legalize iLottery and iGaming have fallen short, but he remains hopeful that it could happen in 2025. Addabbo said:
“You cannot stop technology.”
Photo by Talaj via Shutterstock
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