Lottery Market in US - Growing Adoption of Marketing Strategies to Increase Ticket Sales Will Boost the Market Growth

·9 min read

NEW YORK, Aug. 16, 2022 /PRNewswire/ -- One of the key factors driving the LOTTERY MARKET GROWTH IN US is the growing adoption of marketing strategies to increase ticket sales. Vendors are following integrated marketing communication and using newspapers, magazines, and social media such as YouTube and Facebook to sell their products. These communication channels are playing a key role in generating product awareness in the US. For instance, Georgia Lottery uses a classic billboard display with illuminated numbers to draw in consumers and encourage ticket sales. Similarly, the New York State Gaming Commission (New York Lottery) has a portfolio of commercials, which are strategically developed to attract consumers. One of their TV spots includes a musical number and focuses on the statistics of the game. Lottery companies, including large entertainment companies, are increasingly using social media platforms such as Facebook, Twitter, Pinterest, Instagram, and YouTube to promote lottery and create awareness and interest among consumers. Raising awareness and brand engagement are the major objectives and benefits of social media marketing and the promotion of lottery. This is increasing the consumer base, thereby driving the growth of the lottery market in US during the forecast period.

Attractive Opportunities in Lottery Market in US Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025
Attractive Opportunities in Lottery Market in US Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

Key Lottery Market in US Highlights –

  • The lottery market value in US is set to grow by USD 27.9 billion, progressing at a CAGR of 5.96% from 2020 to 2025, as per the latest report by Technavio. Moreover, the Y-O-Y growth rate of 2021 was estimated at 5.24%.

  • The lottery market in US is segmented by Type (scratch-off games, terminal-based game, and sports lotteries) and Platform (traditional and online).

  • The lottery market in US report offers information on several market vendors, including Arizona Lottery, Connecticut Lottery Corp., Florida Lottery, International Game Technology plc, New York State Gaming Commission, Pennsylvania Lottery, Pollard Banknote Ltd., Scientific Games Corp., Texas Lottery Commission, and The California State Lottery among others.

  • The growing adoption of marketing strategies to increase ticket sales is notably driving the lottery market in US growth, although factors such as socio-economic impact of lotteries may impede the market growth. Moreover, advancing technologies is the major trend influencing lottery market growth in the US.

  • The lottery market share in US growth by the scratch-off games will be significant during the forecast period.

Browse Summary of the LOTTERY MARKET IN US Research Report to Learn More

What are the Top Players Doing to Compete in the Market?

The lottery market in the US is fragmented and the vendors are adopting growth strategies such as investing in R&D to compete in the market. For instance –

  • Arizona Lottery - The company offers Arizona lottery to support Arizona programs for the public benefit.

Moreover, to make the most of the opportunities and recover from post COVID-19 impact, market vendors are also focusing more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

DOWNLOAD LOTTERY MARKET IN US SAMPLE REPORT to Gain Further Insights

Lottery Market in US Also Covers the Following Areas –

Lottery Market Sizing in US
Lottery Market Forecast in US
Lottery Market Analysis in US 

Related Reports –

Browse Summary of the ONLINE LOTTERY MARKET IN CHINA Research Report Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026: The market value is set to grow by USD 3.67 billion, progressing at a CAGR of 5.13% from 2021 to 2026, as per the latest report by Technavio. Furthermore, this report extensively covers the online lottery market in China segmentation by Product (lotto, sports, VLT, and scratch card) and Device.

Browse Summary of the LOTTERY MARKET IN NORTH AMERICA Research Report Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2020-2024: The market value is set to grow by USD 25.60 billion, progressing at a CAGR of almost 5% from 2019 to 2024, as per the latest report by Technavio. Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Arizona Lottery, Connecticut Lottery Corp., Florida Lottery,

Lottery Market in US Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.96%

Market growth 2021-2025

$ 27.9 billion

Market structure

Fragmented

YoY growth (%)

5.24

Performing market contribution

US at 100%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Arizona Lottery, Connecticut Lottery Corp., Florida Lottery, International Game Technology plc, New York State Gaming Commission, Pennsylvania Lottery, Pollard Banknote Ltd., Scientific Games Corp., Texas Lottery Commission, and The California State Lottery

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio "CONSUMER DISCRETIONARY MARKET" Research Reports

Key Topics Covered:

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem

  • 2.2 Value chain analysis

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2020

  • 3.4 Market outlook: Forecast for 2020 - 2025

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Type

  • 5.1 Market segments

  • 5.2 Comparison by Type

  • 5.3 Scratch-off games - Market size and forecast 2020-2025

  • 5.4 Terminal-based games - Market size and forecast 2020-2025

  • 5.5 Sports lotteries - Market size and forecast 2020-2025

  • 5.6 Market opportunity by Type

6 Market Segmentation by Platform

  • 6.1 Market segments

  • 6.2 Comparison by Platform

  • 6.3 Traditional - Market size and forecast 2020-2025

  • 6.4 Online - Market size and forecast 2020-2025

  • 6.5 Market opportunity by Platform

7 Customer landscape

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Market trends

9 Vendor Landscape

  • 9.1 Competitive Landscape

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 Arizona Lottery

  • 10.4 Connecticut Lottery Corp.

  • 10.5 Florida Lottery

  • 10.6 International Game Technology plc

  • 10.7 New York State Gaming Commission

  • 10.8 Pennsylvania Lottery

  • 10.9 Pollard Banknote Ltd.

  • 10.10 Scientific Games Corp.

  • 10.11 Texas Lottery Commission

  • 10.12 The California State Lottery

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Currency conversion rates for US$

  • 11.3 Research methodology

  • 11.4 List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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