3rd of September 2014 Author: Glo Wood
A survey by IBISWorld predicts that although Australian lottery sales are not as high as other forms of gambling, sales will increase within the next five years as a result of an increase in gambler spend.
'Lottery operators have increased the frequency of lotto draws to increase consumer interest and expenditure,' according to IBISWorld industry analyst Spencer Little. "However, this strategy has sometimes been to the detriment of other weekly lottery draws. In 2014-15, revenue is estimated to increase by 1.6 percent, to reach $6.7 billion.
"Although spending is likely to pick up over the next five years, gambling on sports betting and online platforms will outstrip lotteries."
Also predicted is growth in products like online instant win tickets.
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