Latest IBISWorld study expects bigger consumer spend over next five years
Lottery sales in Australia are unlikely to beat those for online sports and horse race betting, but should trend upward over the next five years thanks to increased gambler spend, predicts a new survey by IBISWorld.
"Lottery operators have increased the frequency of lotto draws to increase consumer interest and expenditure," IBISWorld industry analyst Spencer Little said this week. "However, this strategy has sometimes been to the detriment of other weekly lottery draws. In 2014-15, revenue is estimated to increase by 1.6 percent, to reach $6.7 billion.
"Although spending is likely to pick up over the next five years, gambling on sports betting and online platforms will outstrip lotteries."
In addition, the winds of consolidation will be felt in the lottery sector, with the potential implementation of a privatised national lottery system expected to radically alter operating conditions in the future.
IBISWorld suggests there may be potential growth for lottery-style products such as online instant-win lotteries, which appeal the younger and growing demographic… the industry's most untapped market.
Online Casino News Courtesy of Infopowa