Global Legal Lotteries Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Draw-Based Games Lotteries, Instant Games Lotteries, and Sports Games Lotteries),  By Application (Online Lottery and Lottery Store), and Region Forecast 2019-2030

Legal Lotteries Market size was valued at US$ 346.8 billion in 2023 and is anticipated to grow at a CAGR of 6.1 % from 2024-2030. A lottery (or lotto) is a type of gambling that involves the distribution of prizes on drawing of winning names or numbers. Some governments outlaw lotteries, while others endorse it to the extent of organizing a national or state lottery. Legal lotteries are regulated and operated by the government of some regions. 

The consumers’ rising spending on lotteries is a significant driver for the revenues of the market. The total revenues generated by the lottery system significantly depend on the consumers’ spending on lottery tickets. These lotteries that are conducted in compliance with the regulatory authorities, allow consumers to win great prizes such as cash and goods. Some people use this money for their own purposes such as buying a new house, buying cars, and going on vacation while others use that money to do good for those around them. As this is a great way to make money quickly, people are buying more and more of these legal lotteries which ultimately contribute to the growth of the market revenues.

Moreover, the increasing legalization of lottery by several government bodies significantly contributes to the increasing growth of the market. One of the major reasons for which lottery is considered to be a legal form of gambling when conducted by the state and national government authorities is the massive sale and tax revenue that is generated. Hence, it is considered as an excellent way to increase government earnings. These legal lotteries are operated for various noble purposes such as charitable causes, education, healthcare, and other public initiatives. Hence this is a great alternative to make a difference in the world while also experiencing the excitement of gambling. 

However, restrictions posed by the regulatory bodies is a potential restraint to the market growth. Meanwhile, the increase in the number of lottey operators across the globe can create significant opportunities for the growth of the market over the forecasted years. The key players in the market are further contributing to the development of the market by announcing launches, collaborations, and acquisitions. For example, in July 2023, La Française des Jeux acquired Premier Lotteries Ireland to expand its business. 

Legal Lotteries Market Key Developments

• In February 2023, Allwyn acquired Camelot UK Lotteries to facilitate a smooth transition of operations, as well as produce “greater clarity and certainty” for the future of the National Lottery.
• In April 2022, Brookfield Business Partners L.P. acquired the global lottery services and technology business from Scientific Games Corporation for US$5.8 billion to expand its business.