Asia Pacific Region to Drive 36% Of Lottery Market Growth With China as Key Contributor
By Elizabeth Kerr
Last Updated: January 30, 2023
The Asia Pacific region is home to some of the world's most exciting and lucrative lottery games. With more than 60% of the world's population and significant gambling hubs such as Macau, it is no surprise that this region is set to become the leader in the market share. According to Lotterycritic.com, APAC is projected to occupy 36% of the global lottery market share in 2023.Not surprisingly, China is leading the way as one of the key contributors to APAC’s success. The country boasts the highest population in the world, and its citizens are no strangers to lotteries. In addition, other countries in the region have seen lottery sales soar, including South Korea, Japan, and Vietnam.Freddie Smith, the Lotterycritic CEO, spoke on the data:
We see a clear trend across the region – more people are playing and spending more money on lottery tickets than ever before. This is incredibly encouraging news for the Lottery industry, and we expect to see this growth continue throughout 2023. Lotterycritic CEO Freddie Smith
The Asia Pacific Lottery Set to Experience Remarkable Growth
The Asia Pacific lottery market is expected to maintain a steady growth rate in the upcoming years. This is due to a combination of factors such as rising income levels. Additionally, the growth of online gambling and the increasing internet penetration has opened up huge opportunities for vendors to thrive in this region.Furthermore, the relaxation of government regulations on gambling and the growing disposable income of its population are fueling the growth of the lottery market.As more countries adopt technology-led platforms for their lotteries, vendors are also likely to benefit from increased opportunities. With the right strategies in place, this region is set to continue driving growth in the global lottery market.
China’s Legalized Lottery Industry Leads the Way in Revenue and Participation
In China, the legal lottery industry has been snowballing in recent years. Thus, leading the world in revenue and participation.The growth of the Chinese lottery industry is due to the increasing popularity of sports betting. Besides, China is keen to promote legal lottery products and crack down on illegal gambling.Recently, China has been working to standardize the sports lottery industry. Its primary focus is to improve its regulation. As a result, the industry is more transparent and efficient and has attracted more users.Legalizing the lottery industry in China has also led to the development of new technologies and platforms. For example, there are online lottery sales and mobile lottery apps. These have made it easier for consumers to buy lottery tickets and check their results.