The
global
gambling market is expected to grow at a CAGR of 4.75% during the forecast
period. Based on type, the global gambling market has been segmented into
lottery, betting, and casino.
The lottery is one of the first forms
of modern gambling and was started by the US government in Puerto Rico in 1934.
The lottery market in North America and Europe is well developed, whereas the
market is still in the nascent stage in APAC. However, the market in APAC is
expected to grow rapidly during the forecast period. In most of the countries,
lottery systems are managed by the government.
One of the major reasons for the
rising demand for lotteries is the prizes offered by lottery service providers.
To increase their customer base, several lottery service providers are offering
huge amounts as prizes. Several companies have increased their focus on the
launch of new lottery games to attract customers. Hence, owing to all these
factors, the global gambling market is expected to grow during the forecast
period.
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