The Casino and gaming industry is made up of Casinos, Lotteries, Sports betting & related, and other activities, out of which Lotteries account for 28% of the market size with $117 billion.
A lottery is a means of gaining money by selling numbered tickets, drawing those numbers at random at a said time, and distributing prizes in line with the promised amount of money or other objects such as vehicles, shares, bungalows, electronics, etc. to the holders of those numbers.
Italy is the second biggest market for lotteries. The market size of the lotteries sector in Italy reached a value of $6.6 billion in 2021, accounting for 6% of the global market size. Italy contributes to 18% of the market size in the Europe region.
Earlier in the year 2020, the COVID-19 outbreak impacted the sector greatly as most of the outdoor facilities were shut down and people were forced to spend most of their time in their homes, and hence little to no lotteries took place for the better part of the year. The business was shut down for most of the year due to the government’s restrictions and lockdowns. As a result of this, in the year 2020, the market value of lotteries in Italy saw a de-growth of 15%.
After the restrictions were eased, the sector witnessed a recovery in demand as the lotteries market in Italy grew by a significant 30% in 2021 which accounts for an increase in market size of $1.5 billion.
The lotteries market in Italy grew at a CAGR of 2% during the period 2017-2021. This was primarily on account of the increase in the demand for lotteries which was seen for the past few years, which later grew exponentially after the pandemic as people, in general, became more spendthrift after being forced to sit in their homes for the better part of 2020 as the country was shut down with multiple lockdowns and government restrictions.
The major companies that have a strong presence in Italy’s lotteries market include Giant Lottos, Lotto247, and Superenalotto among others.
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