Betting on the Digital Gaming Market
- NetworkNewsWire Editorial Coverage
NEW YORK, April 7, 2021 /PRNewswire/ -- With a worldwide pandemic raging, industries that were already moving toward digital applications have accelerated the process. People now grab their mobile device for everything from ordering groceries to buying cars — and the trend isn't likely to end any time soon. The founders of Lottery.com (Profile) recognized the shifting trends years ago and were first movers to address the untapped global lottery market. The company uniquely combines blockchain with other cutting-edge technology to offer at-home lottery participation and aims to capture a lion's share of huge lottery and sports betting markets. Now the company is timing its entry into the public markets with another hot trend: investor appetite for special purpose acquisition companies, or SPACs. The entire gambling and gaming industry is likely to explode as the pandemic subsides and the economy gets its legs back. DraftKings Inc. (NASDAQ: DKNG) used the SPAC path to go public last April, and traditional casinos are expecting revenue resurgence post-pandemic, with companies such as Bally's Corporation (NYSE: BALY), MGM Resorts International (NYSE: MGM) and Penn National Gaming Inc. (NASDAQ: PENN) all eager for a return to normalcy.
- The global lottery market is valued at $398 billion, more than the worldwide SaaS, video games and film industries combined.
- Lottery.com, one of the foremost brands in global lottery data, is planning to go public via a SPAC reverse merger transaction.
- The company offers a suite of high-margin lottery products, with operations in 12 U.S. states and quickly expanding internationally.
- Management forecasts gross revenue of $71 million in 2021, $279 million in 2022 and $571 million in 2023.
Click here to view the custom infographic of the Lottery.com editorial.
Words such as huge or massive are often tossed around to describe a market's size, and rightfully so — it would be a disservice to call the $138 billion global video games or $158 billion Software-as-a-Service (SaaS) sectors anything less. Still, it begs the question of what adjective accurately describes the $398 billion global lottery market, which is larger than the worldwide video games and SaaS markets combined? Mind boggling comes to mind especially when considering the global lottery market is forecast to reach $625 billion in 2025. Despite the size, it's a market that investors have little exposure to presently.