[March 21, 2018] |
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Juniper Research: Online Lottery Wagers to More than Double, Reaching $76 Billion by 2022, as Mobile Drives Demand
A new study from Juniper
Research has found that online lotteries will be disrupted by the
opening up of markets coupled with a drive towards mobile offerings.
Wagers placed on online lotteries will increase from $29 billion in
2017, to $76 billion by 2022 with mobile devices accounting for more
than half of this by 2022.
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Disruptors to Boost Online Gambling Revenues.
New Markets Emerge
The new research, Mobile
& Online Gambling: Casinos, Lotteries, Betting & VR 2018-2022,
found that there will be a doubling of digital lottery users, from 317
million in 2018, to 624 million by 2022, driven largely by the Far East
& China. The research anticipates that the considerable Chinese online
lottery industry will re-emerge during the period, alongside the launch
of a South Korean digital lottery this year.
Western markets face disruption too. Juniper believes that the US is on
the cusp of a wave of legislation that will facilitate online gambling,
following Pennsylvania's landmark decision to allow such activities in
October 2017. Juniper also identifies New Jersey, New Hampshire, West
Virginia, and Illinois as those set to follow. For state-run lotteries,
legalisation will likely allow online delivery, as well as pools between
states, further driving participation.
Disruptors Challenge Traditional Players
However, the research found constraints, with traditional lottery
providers, often monopolies in their home markets, now facing increased
competition. Research author Lauren Foye (News - Alert) explained:
"The rise of lottery betting providers will concern traditional
players; Juniper calls attention to Lottoland, which saw revenues of
$320 million in 2016. The company enables users to effectively 'bet' on
a range of lotteries globally, users pay to enter and pick the required
numbers. Whilst customers do not buy a physical ticket, Lottoland's
insurance model pays out on any wins, should they occur."
Juniper found that these activities are a draw for consumers seeking
better odds or jackpots from international games, and as such, advises
traditional providers to re-evaluate prize structures and entry fees.
Juniper Research (News - Alert) provides research and analytical services to the global
hi-tech communications sector, providing consultancy, analyst reports
and industry commentary.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180321005082/en/
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