Lottery Market in the US 2018-2022
The lottery market in the US is quite competitive and consists of numerous large and small-scale vendors. The competition among the players is mainly based on factors such as product portfolio, pricing, prize money, varieties, and payment options. The vendors are increasingly investing in planning, designing, acquiring new players, and expanding their existing facilities. Technological innovations and creativity play a significant role in driving the market growth. Based on type the lottery market can be segmented into scratch-off games, terminal-based games, and sports lotteries. And on platform type the lottery market can be segmented into traditional lottery market and online lottery market.
Technavio’s analysts forecast the lottery market in the US to grow at a CAGR of 5.72% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the lottery market in the US for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of lottery.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Lottery Market in the US 2018-2022
Technavio recognizes the following companies as the key players in the lottery market in the US: California State Lottery, Florida Lottery, New York State Lottery, and Texas Lottery Commission.
Other Prominent Vendors in the market are: Arizona Lottery, Colorado Lottery, Connecticut Lottery, Delaware Lottery, Georgia Lottery, Hoosier Lottery, Illinois Lottery, and Missouri Lottery.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is public image enhancement. The entire gambling industry, including the lottery market, is faced with the challenge of having a tainted public image. Several countries have banned lotteries on the grounds of morality or religion. The lottery market is also perceived to be dominated by swindlers and fraudsters. To overcome these challenges, the US government is focusing on legalizing vendors and offering equal opportunities to players. These measures will provide players the confidence and allow them to engage in the online lottery games. Also, the negative image of the lottery market can be tackled by using the revenue generated for social welfare and environmental development activities.”
According to the report, one of the major drivers for this market is popularity of online lottery. he wide popularity of the online lottery is mainly due to the higher customer reach and elimination of physical presence to monitor the activity. Moreover, the online lotteries are increasingly played by the younger population and mobile advertising techniques drive the online lottery market in the US. This will lead to market growth during the forecast period.
California State Lottery, Florida Lottery, New York State Lottery, Texas Lottery Commission, Arizona Lottery, Colorado Lottery, Connecticut Lottery, Delaware Lottery, Georgia Lottery, Hoosier Lottery, Illinois Lottery, and Missouri Lottery.
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