Mobile gaming and online jackpots draw unprecedented interest, as digital entertainment settles around the world. In times of economic setbacks, online lotteries deliver instant digital optimism.
Online Mobile Lottery Market to Double by 2027
A recent market study published by the US-based consultancy firm Global Industry Analysts, Inc. reveals that online mobile lotteries have passed $3.1 billion in the year 2020. Global concerns over Covid-19 and physical distancing have also played a role in speeding up digital adoption, analysts agree.
In the next few years a slowdown is unlikely as well. Online and mobile lotteries are expected to maintain an average growth rate of 9.5%, nearly doubling the current market estimate to $5.8 billion.
The research experts cite Online Lotteries India, one of the most trusted and reputable sources on global mobile lottery. Industry insights provided by the likes of SevenJackpots also add depth to research papers and supply genuine information on the dynamic online gaming scene.
The inclusion of Online Lotteries India, proves the importance of Bharat as a booming mobile lottery market, with only China possibly growing faster at an estimated CAGR of over 12%. The publication also breaks down leading global markets like the USA, Canada, Japan, Europe, Russia, Asia-Pacific and Latin America.
The extensive market overview includes commercial influencer insights, global market trajectories and the impact of Covid-19 as the cause of a worldwide economic slowdown in other sectors. Some 36 complete company profiles provide a clear perspective on top-tier competition in the online and mobile lottery business.
Huge and Still Growing
Previous market studies had already shown just how big the lottery market in India truly is. Gross turnovers passed Rs 50,000 pre-GST introduction (in 2017) or $6.7 billion at current figures. There has been a noticeable drop in sales since then, attributed to indirect taxation leading to higher ticket prices, as well as illegal competition expanding.
While many lottery players used to buy lottery tickets from intranet-based terminals, most continued trusting kirana resellers. But while retailer-assisted sales had become inconvenient for a number of reasons, the mobile-first Indian market really threatened paper-based tickets in the past couple of years. Millions of daily transactions started passing through online websites and mobile apps.
Digital Means Fair and Transparent
Government-run lotteries have always enjoyed great success among desi players. However, distribution issues have led to less transparency on taxation and illegal ticket sales. Many State-held draws lost out to offshore competition which prove more efficient and can reach anyone with a smartphone.
India’s mobile lottery market can easily overcome much of the management, distribution and tax transparency problems of paper-based lotteries, media reports remind. While the current market size hovers around $5 billion, State authorities can practically double their revenues by simply digitizing all remaining draws.
With an estimated 150 million real-money gamers in 2023 (according to EY-India), the Union’s favorite legal gambling form is preferred by at least 50% of active consumers. At 15 billion lottery tickets purchased online each year, India can have a fresh Rs 75,000 ($10 billion) in its public coffers in a safe and legal manner, after distributing the winners’ fair prizes.
Last but not least, digital operations can help push back hawala transactions and protect desi lottery operators from offshore competition.