A new study revealed that wagers placed on online lotteries will increase to US$76 billion by 2022.
UK.- Juniper Research commissioned a new study that found that online lotteries will be disrupted by the opening of markets coupled with a move towards mobile offerings. The paper also details that wagers placed on online lotteries will increase from US$29 billion in 2017 to US$76 billion by 2022.
The increase will be driven by mobile devices, as they will account for more than half of the growth by 2022. The study called Mobile & Online Gambling: Casinos, Lotteries, Betting & VR 2018-2022, details that there will be an increase of digital lottery users from 317 million in 2018 to 624 million by 2022, specially driven by the Far East & China. The research said that the Chinese online lottery industry will re-emerge during the four-year period, alongside the launch of the digital lottery in South Korea, which will take place this year.
Juniper also said that the US is on the verge of a new series of legislations that will facilitate the growth of online gambling. While Pennsylvania took the first step to legalise the industry in October 2017, Juniper identified New Jersey, New Hampshire, West Virginia, and Illinois as the states that would likely adapt a new legislation.
However, the research found constraints, with traditional lottery providers, often monopolies in their home markets, now facing increased competition. Research author Lauren Foye 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 those activities are a draw for players seeking better odds or jackpots from international games.