Brexit was a huge move for Britain and Europe. It is certain that such a change on the European scene will have a great impact on economy and finance. One of the areas of business that will probably be greatly affected by Brexit is gambling.
The Brexit referendum has created a lot of uncertainty about global economic growth. The decision made by British follows a slow recovery of world’s economics since 2008. This creates a probability that more and more costumers are likely to draw their attention towards lottery, to improve their financial situation. This would result with a huge growth of lottery market, which is already reported to be worth $218 billion. The combination of the industry value and the potential growth creates massive opportunities for disruptive new products. Richard Clarke, Chief Product Officer of Link2Win, explains.
Richard Clarke also adds that the dream of hitting a jackpot is another factor that points out to the growth of a lottery industry. The desire to improve ones economic and financial situation will be a result of Brexit and the appeal of lottery products.
The huge part in the development and growth of the industry plays the accessibility of the products. The ability to play your favourite numbers or scratch cards on your mobile device is an important factor in the growth of the market. The general opinion among the specialists is that over 50% of all games played online will be played by means of mobile devices.
Since the mobile lottery market is still quite small, the Brexit referendum, possible growth and increasing demand will open possibilities. Clarke notes that iGamign sector is ideally placed to drive this transformation within the lottery market. All because iGaming sector has overcome many of the challenges associated with a business grounded in the retail distribution of real-money gambling products.
Clarke sums up by saying that “Innovative new lottery products can allow existing iGaming operators the ability to further complement their marketing acquisition strategies by adding new and accessible life-changing games to target this growing, and largely untapped, player market segment”.