Impact of Covid Pandemic on Online Lottery Industry
- GammaStack
- Lottery
Table of Contents
But when most industries were struggling to get back up from the massive downfall, a few also witnessed new heights. How did this happen? People staying home, looking for new ways to keep themselves entertained were ready to try anything. Even the unconventional ways. This fueled the growth of several industries that catered to the needs of people. Long story short, the lockdown worked in the favor of a handful of industries.
The online lottery during lockdown was one of those fortunate industries that boomed during the COVID-19 Pandemic.
But before we jump into all the numbers, stats, and technicalities, let’s understand how it actually happened.
The Shift from Traditional Lotteries to Online Lotteries During Lockdown
There was a time when the paper lottery system was used to play lottery games. It’s still quite popular today in some age groups. But the lack of transparency and inconsistent nature resulted in bans across various regions across the world. Hence, the online lottery system was introduced to ensure everyone gets an equal opportunity to hit the jackpot.
The lockdown resulted in the complete shutdown of various lottery outlets. The events were canceled and the lottery ticket shops closed down. This pushed players to look for other ways to keep themselves entertained. After all, lotteries are easy and low-cost ways to have fun.
Today, everyone has access to desktops, smartphones, and high-speed internet connectivity. Hence, more and more people turned towards the online lottery. The result? Acceleration in the growth of the online lottery industry during the lockdown.
Today, several traditional lottery systems are upgrading to online lottery systems and several online lottery systems are upgrading themselves to even more technologically advanced online lottery platforms, to meet the needs as well as expectations of modern players.
The online lottery systems also benefit the players in several ways. Online lottery software solutions give an opportunity to players to play from the comfort of their homes. Also, online lottery systems are safe, secure as well as transparent as they come with certified RNG. This enables players to ensure complete fairness in the lottery events. The online lottery systems also render tickets in various formats, that too, as per the convenience of the users. Customers can choose the formats that’s convenient for them and get started. This factor not only provides ease but also ensures customers get their hands on authentic tickets.
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Lottery Industry Insights: Pre and Post Covid Pandemic
In the year 2018, the global lottery industry was worth $157.7 billion. Today, it is predicted that by the end of 2026, it would reach $353.1billion with a 10% hike in CAGR.
Online lottery is immensely popular in regions like Europe, APAC, North America, Latin America, MEA, and South Africa. Out of these, European countries remain dominant. This makes these most lucrative regions for online lotteries.
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How You Can Leverage the Online Lottery Industry
- API IntegrationIf you already own an online lottery business but you are struggling to make profits, this one is perfect for you. API’s of some of the most famous lotteries can be integrated into your platform. These include Powerball, Megamillion, Lotto plus, Spanish Daily, and many more. These can be easily integrated into your existing online lottery platform, without disrupting operations and can enable you to increase customer engagement as well as participation.
- Independent Lottery
Don’t want to make use of the API? You can start your very own lottery and become an independent lottery operator. The biggest plus? You get all the freedom, you can be as creative as you want and keep the majority of the profits. You can explore all the types of lottery software solutions as per your business requirements, pick the one that aligns with your goals, and get started.
Now let's take a look at the options that you can invest into. There are two, the online lottery mobile apps and web-based online lottery software solutions. Let’s take a deeper look at both of these. - Online Lottery Mobile apps Mobile apps come with an abundance of benefits. Ease of access, outstanding experiences, and much more. These also enable your customers to participate in lottery events from anywhere, anytime. Mobile lottery platforms have specifically witnessed a surge during the pandemic. Mobile lottery games also emerged as the most trending games among audiences and various regions. You can opt for hybrid or native apps as per your requirements and your budget. These come with several features, functions and tools that promise to render outstanding lottery experience to your customers and enable you to increase engagement as well as participation.
- Online Lottery Web apps Small screens are great for accessibility. But when it comes to splendid experiences, nothing beats web applications. The best part? There are several variations to choose from that fit your business’s goals seamlessly. You can choose from bitcoin lottery software, lottery number generator software, keno lottery software, lottery pool software, bookie software, and much more. Each one of these come with their own set of advantages and unique features that meet the needs of your business.
Promising New forms of Lotteries
- Raffle Software Solutions Raffles have been around for several years. Raffles are widely used to raise money for good causes. And pandemic relief quickly became one of the good causes to raise money. Raffles for treatments, care, extending support, vaccines, etc quickly populated the internet. The result? Boom in raffle software solutions.
- Mystery Box Software Solutions Mystery box promises gift hampers. From branded shoes to high-tech gadgets, from fashionable clothes to designer watches that make a statement, mystery boxes kept the lottery players engaged throughout the pandemic. Today, several platforms have already grabbed the opportunity to deliver a fresh lottery experience to their customers. As per the stats and the way things are moving forward, it seems like it wouldn’t take much time for mystery boxes to become mainstream.
How GammaStack can Help you Get State-of-the-art Online Lottery Software Solution
GammaStack is a leading and well-established iGaming software solution provider that specializes in rendering businesses with state-of-the-art lottery software solutions. Choose from our various offerings of lottery software solutions that cater to your business needs. Looking for raffle and mystery box software solutions? We’ve got you covered. In addition to this, we also provide lottery mobile application development services that meet your needs. We also provide custom development services, 24/7 customer support, maintenance services, and periodic updates to keep you ahead. Want to know more? Contact us today!
FAQs on Online Lottery Software
Yes, you can! If you are not interested in the lotteries that are played, you can start your own online lottery.
Yes, the Covid-19 Pandemic has proven to be highly beneficial for the online lottery industry. Due to the lockdown, more and more people have turned towards online lottery platforms to keep themselves entertained and engaged, which has resulted in the growth of the online lottery industry.
Yes, we can seamlessly integrate the payment gateway of your choice into your online lottery software solution.
Yes, the online lottery software we provide is RNG certified by iTech Labs.
Yes, the online lottery platform we provide supports all major cryptocurrencies for seamless yet safe transactions.
Sources
- https://www.marketinsightsreports.com/reports/02021076918/global-lottery-market-sixxssze-status-and-forecast-2019-2025
- https://www.globenewswire.com/fr/news-release/2020/04/14/2015536/0/en/COVID-19-Impact-on-Lottery-Market-Global-Opportunity-Analysis-and-Industry-Forecast-2019-2026.html
- https://www.prnewswire.com/news-releases/lottery-market-2021-2025-industry-covid-19-analysis-market-trends-growth-opportunities--forecast--technavio-301265674.html
- https://www.dusanegaming.com/huge-rise-in-demand-for-mobile-lottery-during-lockdown/
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