Online Lottery - Greece

Greece

Highlights

Revenue in the Online Lottery market is projected to reach US$39.11m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.19%, resulting in a projected market volume of US$50.36m by 2029.
In the Online Lottery market, the number of users is expected to amount to 140.1k users by 2029.
User penetration will be 1.0% in 2024 and is expected to hit 1.4% by 2029.
The average revenue per user (ARPU) is expected to amount to US$363.60.
In global comparison, most revenue will be generated United States (US$4.39bn in 2024).
With a projected rate of 6.5%, the user penetration in the Online Lottery market is highest South Korea.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online Lottery market in Greece has been experiencing significant growth in recent years.

Customer preferences: Customers in Greece have shown a strong preference for online lottery platforms due to their convenience and accessibility. The ability to purchase lottery tickets from the comfort of their own homes, without the need to visit a physical store, has been a key driver of the market's growth. Additionally, the online platforms often offer a wider variety of lottery games and promotions, which appeals to customers looking for more options and excitement.

Trends in the market: One of the major trends in the Greek online lottery market is the increasing popularity of mobile lottery apps. With the widespread use of smartphones, customers are now able to access lottery games anytime and anywhere. This has led to a surge in mobile app downloads and usage, as customers appreciate the convenience and flexibility that mobile platforms offer. Another trend in the market is the introduction of innovative lottery games and features. Online lottery operators in Greece are constantly looking for ways to differentiate themselves and attract new customers. This has resulted in the development of unique game formats, such as instant win games and scratch cards, which provide a more interactive and entertaining experience for players.

Local special circumstances: Greece has a long history of lottery games, with a strong cultural tradition of participating in such activities. This cultural factor has contributed to the popularity of online lottery platforms in the country. Additionally, the economic crisis that Greece experienced in recent years has also played a role in the growth of the online lottery market. With limited disposable income, many Greeks have turned to online lottery games as a form of entertainment and a chance to win some extra money.

Underlying macroeconomic factors: The improving economic conditions in Greece have also had a positive impact on the online lottery market. As the country's economy continues to recover, consumers have more disposable income to spend on leisure activities, including online lottery games. This has led to an increase in the number of players and overall spending in the market. In conclusion, the Online Lottery market in Greece is witnessing strong growth due to customer preferences for convenience and accessibility, as well as the introduction of innovative games and features. The cultural tradition of participating in lottery games and the economic recovery of the country have also contributed to the market's development.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services.

Modeling approach:

Market size is determined through a Top-Down approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.