Online Lottery - Ghana

Ghana

Highlights

Revenue in the Online Lottery market is projected to reach US$964.70k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.82%, resulting in a projected market volume of US$1.21m by 2028.
In the Online Lottery market, the number of users is expected to amount to 74.6k users by 2028.
User penetration will be 0.2% in 2024 and is expected to hit 0.2% by 2028.
The average revenue per user (ARPU) is expected to amount to US$17.00.
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 Ghana 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 Ghana have shifted towards online lottery platforms due to their convenience and accessibility. The rise of mobile technology and internet penetration has made it easier for people to participate in online lottery games from the comfort of their own homes. Additionally, the younger generation in Ghana, who are more tech-savvy, are increasingly drawn to online platforms for entertainment and gaming purposes. Trends in the market indicate that online lottery operators in Ghana are leveraging technology to enhance the user experience and attract more customers. These operators are investing in user-friendly interfaces, secure payment systems, and innovative game offerings to differentiate themselves from traditional lottery providers. The introduction of new game formats and attractive jackpots has also contributed to the growing popularity of online lottery in Ghana. Local special circumstances in Ghana, such as the lack of physical lottery retailers in remote areas, have further fueled the growth of the online lottery market. Online platforms provide a convenient solution for individuals who do not have access to traditional lottery outlets. Additionally, the COVID-19 pandemic and associated lockdown measures have accelerated the adoption of online lottery as people turned to digital platforms for entertainment and recreational activities. Underlying macroeconomic factors have also played a role in the development of the online lottery market in Ghana. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among the population. As a result, more Ghanaians have the financial means to participate in online lottery games and are willing to spend money on entertainment activities. In conclusion, the Online Lottery market in Ghana has seen significant growth due to customer preferences for convenience and accessibility, trends in the market towards technology-driven solutions, local special circumstances such as limited physical lottery retailers, and underlying macroeconomic factors such as increased disposable income. These factors have created a favorable environment for the expansion of the online lottery market in Ghana.

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.