Online Lottery - Albania

Albania

Highlights

Revenue in the Online Lottery market is projected to reach US$71.75m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.71%, resulting in a projected market volume of US$86.24m by 2028.
In the Online Lottery market, the number of users is expected to amount to 12.8k users by 2028.
User penetration will be 0.4% in 2024 and is expected to hit 0.5% by 2028.
The average revenue per user (ARPU) is expected to amount to US$6.96k.
In global comparison, most revenue will be generated United States (US$5.74bn in 2024).
With a projected rate of 6.6%, the user penetration in the Online Lottery market is highest South Korea.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online Lottery market in Albania has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the Online Lottery market in Albania have shifted towards convenience and accessibility. With the advent of technology, more and more people are turning to online platforms to participate in lottery games. Online lottery platforms offer the convenience of purchasing tickets from the comfort of one's own home, eliminating the need to visit a physical lottery retailer. Additionally, online platforms often provide a wider variety of lottery games, giving customers more options to choose from. Trends in the market have also played a role in the growth of the Online Lottery market in Albania. The increasing popularity of mobile devices and internet access has made it easier for individuals to participate in online lottery games. Mobile apps and websites have made it possible for customers to purchase tickets and check results on the go, further enhancing the convenience factor. Furthermore, the rise of digital payment methods has made it easier for customers to make transactions on online lottery platforms. Local special circumstances have also contributed to the growth of the Online Lottery market in Albania. The country has a relatively low average income, and the opportunity to win a large sum of money through lottery games is appealing to many individuals. Participating in online lottery games provides a chance for individuals to potentially improve their financial situation. Additionally, the lack of physical lottery retailers in some areas of the country has made online platforms the only option for individuals to participate in lottery games. Underlying macroeconomic factors have also played a role in the development of the Online Lottery market in Albania. The country has experienced economic growth in recent years, leading to an increase in disposable income for many individuals. This has allowed more people to have the financial means to participate in lottery games. Furthermore, the government has implemented regulations to ensure the transparency and fairness of online lottery platforms, which has increased consumer trust and confidence in these platforms. In conclusion, the Online Lottery market in Albania has been growing due to customer preferences for convenience and accessibility, trends in the market such as the popularity of mobile devices and digital payment methods, local special circumstances including low average income and limited physical lottery retailers, and underlying macroeconomic factors such as economic growth and government regulations.

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. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies, and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, the urban population, the usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.