Lottery market size in Mexico to grow by USD 3,537.24 million between 2022 and 2027; Increasing penetration of online lottery identified as a major trend - Technavio
NEW YORK, March 21, 2023 /PRNewswire/ -- The lottery market size in Mexico is estimated to increase by USD 3,537.24 million between 2022 and 2027. The market's growth momentum will be progressing at a CAGR of 9.3% during the forecast period. The increasing penetration of online lottery is one of the major trends influencing growth. The rising adoption of smartphones and the availability of the internet have increased the number of online users. This has encouraged vendors to provide better experiences to customers and tap the growth potential. Many vendors are introducing online platforms to engage customers as well as promote their other product offerings, such as gaming, sports betting, and other forms of gambling. Such developments are positively influencing market growth. Discover some insights on market size historic period (2017 to 2021) and Forecast (2023 to 2027) before buying the full report - Request a sample report
Lottery market in Mexico ? Vendor Analysis The lottery market in Mexico is fragmented due to the presence of several vendors. The vendors are expanding their geographical presence and introducing new products to cater to a large customer base and increase revenue. The competition in the market is increasing with the entry of new players, technological innovations, and rising M&As.
Vendor Offerings -
Bet365 Group Ltd. - The company offers lottery games such as Lotto365.
EU Lotto Ltd. - The company offers lottery services such as bingo, toto, and 1Xgames.
Florida Lottery - The company offers lottery services such as Powerball, jackpot triple play, and cash pop.
Gammastack Inc. - The company offers lottery services such as casino and online casino.
What's New? -
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competitiveness and key competitor positions
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Lottery Market in Mexico - Segmentation Assessment
Segment Overview Technavio has segmented the market based on platform (offline and online) and type (draw-based lotteries, sports lotteries, instant lotteries, and others).
The market will observe significant growth in the offline platform segment during the forecast period. The growth of this segment is majorly driven by factors such as the expansion of lottery retailers, increasing lottery prize money, and liberalization of government regulations. In addition, the introduction of technologically advanced solutions by vendors is supporting the segment's growth.
The growth of the market is driven by the high return on investment (ROI) potential in a lottery. Lotteries offer the highest returns in the gaming industry. Lottery rewards are offered in the form of physical goods and monetary benefits. The chances of winning are low. However, the maximum winning jackpot has no limit. For instance, Mexico's national lottery offers jackpots of up to M$150 million in a single draw. Such high ROIs are increasing investments by customers in lottery tickets, which is driving the growth of the market.
Major challenges ?
Security and credibility issues related to lotteries are key challenges hindering market growth. The number of cybercrimes is increasing across the world. As more people are involved in online lottery, these platforms have become major targets for cyber attackers and scammers. Many online lottery platforms do not have the latest cybersecurity technologies in place, which increases the risk of online fraud. These challenges are hindering the growth of the market.
The arcade gaming market is estimated to grow at a CAGR of 1.99% between 2022 and 2027. The size of the market is forecasted to increase by USD 1,984.1 million. The launch of new arcade games is notably driving the market growth, although factors such as high maintenance costs of gaming machines may impede the market growth.
The lottery market is estimated to grow at a CAGR of 6.96% between 2022 and 2027. The size of the market is forecast to increase by USD 182.44 billion. The increasing penetration of online lottery is notably driving the market growth, although factors such as the socio-economic impact of lotteries may impede the market growth.
Lottery Market in Mexico Scope
Growth momentum & CAGR
Accelerate at a CAGR of 9.3%
Market growth 2023-2027
USD 3,537.24 million
YoY growth 2022-2023 (%)
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Arizona Lottery, Bet365 Group Ltd., Electronic and Communication Media SAPI de CV, Ensenanza e Investigacion Superior AC, EU Lotto Ltd., Florida Lottery, Gammastack Inc., Georgia Lottery Corp., Hoosier Lottery, International Game Technology plc, Interwetten Gaming Ltd., INTRALOT SA, Juega Lotto SA de CV, Latino Arts Inc., Legacy Eight Curacao NV, New Mexico Lottery, Pennsylvania Lottery, Pollard Banknote Ltd., TECHNOLOGY IN CALIPLAY ENTERTAINMENT SAPI DE CV, and Winland Group
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
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11.16 TECHNOLOGY IN CALIPLAY ENTERTAINMENT SAPI DE CV
Exhibit 108: TECHNOLOGY IN CALIPLAY ENTERTAINMENT SAPI DE CV - Overview
Exhibit 109: TECHNOLOGY IN CALIPLAY ENTERTAINMENT SAPI DE CV - Product / Service
Exhibit 110: TECHNOLOGY IN CALIPLAY ENTERTAINMENT SAPI DE CV - Key offerings
11.17 Winland Group
Exhibit 111: Winland Group - Overview
Exhibit 112: Winland Group - Product / Service
Exhibit 113: Winland Group - Key offerings
12.1 Scope of the report
12.2 Inclusions and exclusions checklist
Exhibit 114: Inclusions checklist
Exhibit 115: Exclusions checklist
12.3 Currency conversion rates for US$
Exhibit 116: Currency conversion rates for US$
12.4 Research methodology
Exhibit 117: Research methodology
Exhibit 118: Validation techniques employed for market sizing
Exhibit 119: Information sources
12.5 List of abbreviations
Exhibit 120: List of abbreviations
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