The lottery segment accounts for almost half of the revenue of the gambling industry, which is why all states apply monopoly.
State monopolies, which have been established for several levels if not centuries, control the gambling industry, so private investors rarely participate in lotteries .
Nevertheless, some things remain intact: disagreements in legislation disrupt the order, and enterprising operators are expanding the scope of the genre, adapting it to modern players.
In this article, we look at the history of the games and the legal specifics of these products, as well as current trends in this area of gambling.
As lottery is one of the most lucrative sectors of the gambling industry, projections show that the lottery market will reach $430 billion by 2031 .
In 2024, online lottery will generate $9.15 billion in Europe and $5.74 billion in the US.
Most of this volume comes from the huge Western European markets. In Germany, the online lottery market is predicted to earn $1.54 billion in 2024, and in the Kingdom, people earned £4.17 ( $5.27 ) billion from lotteries in 2022-2023. In 2024, the online lottery market in France is projected to reach $0.80 billion.
Trends change from market to market, but some countries are experiencing record growth due to the introduction of new lottery products.
A bit of history: lotteries and similar games have been around since ancient times, infections before ancient China. The Netherlands and Genoa are native modern versions of the game. The earliest lotteries were documented in towns in Flanders County in the last Middle Ages, in the 1440s. These towns are now located in the Netherlands, Belgium and northern France.
Public projects such as rebuilding traditional walls and building churches were funded through lotteries. Not surprisingly, the Staatsloterij, the Dutch state lottery, has been around since 1726 and is one of the oldest lotteries in the world.
However, bingo, a money game for European people, first appeared in Genoa in the early 17th century. The aim of the game was to predict which of the candidates for which office would win the toss and get their place.
Soon the government of the republic took over the organization of the game. They replaced the candidates’ names with numbers, increased the odds of numbers being drawn, and increased taxes on participation.