Report forecast the lottery market in the US to grow at a
CAGR of 5.41% during the period 2016-2020, in terms of revenue.
Lottery is banned in various states in the US mainly due to
its impacts on the society. The purchase of lottery can be addictive, hence
impacting the livelihood of many. However, due to easier ROI, the demand for
lottery has increased. Higher jackpot values have raised the demand for tickets
with larger jackpot amount in state lotteries of the US. This lures casual
players into the game as they buy the lottery tickets only when the prize is
highly attractive. A large audience was attracted to the prize money of $100
million in 2013. However, due to the influence of jackpot fatigue, the lottery
vendor's revenue flow is restricted as fewer people are buying lottery tickets,
which is affecting the growth of the market in the country. With jackpot fatigue
creeping in the US lottery market, prize amount as high as $300 million is
expected to fetch more players.
The report covers the present scenario and the growth
prospects of the lottery market in the US for 2016-2020. To calculate the
market size, the report considers the revenue generated from the different
types of lotteries and by different region in the lottery market.
The market is divided into the following segments based
on type:
- Lottery market in US by scratch card
- Lottery market in US by other
According to the report, high prize money offered by
lotteries will be a key driver for market growth. Lottery market comprises of
several types of games and tickets in various price range. The reward also
differs from one ticket to another, which are either given away as physical
goods or as monetary benefits. The government in China has limited the maximum
jackpot to $1.65 million, whereas, there is no such rule imposed by the US
government. Since the lotteries offer a high prize money, a large group of
individuals get attracted to the rewards and invest accordingly to participate
in these games.
Further, the report states that availability of substitutes
will be a challenge for the market. The availability of substitutes poses a
high challenge to the global lottery market. Horse racing betting, casinos, and
sports betting are some of the highly played and revenue-generating gambling
games in the world. Casinos, for instance, is leading gambling market, and it
was valued at $199.8 billion in 2014. Global casino gaming market has a
high-risk factor. Its profit margin is high and has exceptional growth prospect
during the forecast period. Therefore, the availability of such gambling
alternatives poses a threat to the growth of the global lottery market.
Lottery Market in the US 2016-2020, has been prepared
based on an in-depth market analysis with inputs from industry experts. The
report covers the market landscape and its growth prospects over the coming
years. The report also includes a discussion of the key vendors operating in
this market.
key players in the lottery market in the US: California
State Lottery, Illinois State Lottery, Missouri Lottery, Hoosier Lottery, New
York State Lottery, North Carolina Education Lottery, and Texas Lottery Commission.
Other Prominent Vendors in the market are: Arizona Lottery,
Colorado Lottery, Connecticut Lottery, Delaware Lottery, Florida Lottery,
Georgia Lottery, Idaho Lottery, Iowa Lottery Authority, Kansas Lottery,
Kentucky Lottery, Maryland Lottery, Massachusetts Lottery, Michigan Lottery,
Ohio Lottery, Oregon Lottery, Pennsylvania Lottery, and Rhode Island Lottery.
Market driver
- Social development in US
- For a full, detailed list, view our report
Market challenge
- Compliance with anti-lottery laws
- For a full, detailed list, view our report
Market trend
- Use of lottery profits for charity
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 59 pages and 31 Exhibit “Lottery
Market in the US 2016 - 2020” report covers Executive summary, Scope of the
report, Market research methodology, Introduction, Market landscape, Industry
overview, Market segmentation by type, Lottery market in US by states,
Potential online gambling market in US, Buying criteria, Market drivers, Impact
of drivers, Market challenges, Impact of drivers and challenges, Market trends,
Vendor landscape, Appendix.
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