Lottery Industry Statistics

As per a report, the global market of lottery was valued in 2021 at $300 6 billion and is expected to grow at 3.8 % CAGR through the year 2031 with a worth of $430.4 billion by the forecasted period’s end. Industries digitization is driven through technological advancements and the lottery industry is no exception As per a report, in 2021, the valuation of the global online lottery industry was $10 44 billion and by 2029, it is expected to be valued at $16 77 billion with a growth of 6.1% CAGR. iLottery is gaining popularity among consumers due to growth in encryption protocols, internet technologies as well as blockchain ensures convenience for consumers taking part in the online lotteries while sitting in convenience of their homes without visiting their nearby stores selling lottery tickets Blockchain use in the online lottery industry can enhance the way in which lottery games are played as it enables tamper proof and transparent transactions which eventually allows a fair as well as secure lottery system The blockchain usage can also contribute in speeding up the process of giving prizes to0 the winners and efficiently managing lottery tickets distribution. The dominant share of the global online lottery market was held in 2021 by North America which was followed by Europe and Asia Pacific along with emerging markets It is expected by 2029 that Europe can dominate the online lottery industry market share

It has been reported by the lottery officials of California on 8th of November that a $2 04 billion jackpot has been hit by someone who is from California In U S lottery games history as well as Powerball games’30 year history, this is the largest jackpot

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