Even as gambling remains illegal in China, the state-sponsored lottery industry is expected to see a significant boom in the coming years. But what are the factors driving this growth?ꦏ We will see in this article
China's online lottery sector is expected to see a $2.65 billion growth between 2025 and 2029, as per a recent report by market research firm Technavio. In fact, the report predicts a compound annual growth rate of 10% for the sector in world's second largest economy. (More Sports News)
Even as gambling remains illegal in China, the state-sponsored lottery industry is ⛄expected to see a significant boom in the coming years. But what are the factors driving this growth? We will see in this article.
While gambling in most forms remains illegal in China, the report suggests that the youth of the country is attracted towards the lotter✤y applications on phones and comp🍰uters. The report cites the rise of high-speed internet access as the key factor driving this growth.
With people already attracted to such applications, artificial intelligence (AI) and blockchain technology are also enhancing the scenario for lottery games. AI is helping people get personalised lottery options which is further boosting the demand and the time people spend on s🌜uch products.
In fact, it is not just the 🍃Chinese lottery games that are gaining popularity in the country but also foreign. Chinese lottery lovers are looking for international options to 🉐take such risks and they can now enter international virtual lottery draws by purchasing tickets using an integrated global digital payment system.
With the growing opportunities in the sector, the threats are increasing too. Scams are not unknown in this industry. Fake lottery ti💦ckets from unregistered websites, sophisticated phishing scams are making it hard for regulators to safegu🅰ard everyone involved in playing these lotteries.
Despit♚e challenges, Chinese government's support of well-regulated lottery management systems is fueling the rise in the industry.