Irish National Lottery Witnesses Exponential Growth
The National Lottery accounts for more than ten percent of Ireland’s Gambling market. These numbers were a result of a report that the lottery Operator commissioned, the Premier Lotteries Ireland. The National Irish Lottery began business in 1987, and the Premier Lotteries Ireland Group operates it, after getting a 20-year contract back in 2014 and a consortium that involves Camelot owns the Group.
The sales of National Lottery in Ireland reached an 8-year-high with an outstanding number of 800.2m Euros, according to the figures by Indecon, the Irish analysis organization. Despite the exceptional numbers, it was still only thirteen percent of the total gambling revenue of Ireland, which reached €5.6 billion.
Numbers from the Irish Gambling Market
The report also suggested that one of the reasons behind the increase in sales is because of the growth of internet gambling in Ireland, and especially the “Substitute Products” including lottery operators. According to estimates by Indecon, remote gaming is worth almost 2.07 billion Euros, and that was back in 2017. As for the retail revenue, it stands at 2.81 billion Euros, which results in total market revenue of 5.6 billion Euros when you put the income from the National Lottery sales.
There are also figures that show the growth of other rival lottery products. For instance, Indecon indicated that the public awareness for an unnamed lottery competitor, most likely to be Lottoland, grew from nineteen percent in August to reach thirty-two percent in May of 2017. According to information from Harris Interactive France, fifty percent of the Irish consumers knew at least one lottery operator, which is a more significant number than the United Kingdom, which is only at 32 percent. These numbers, on the other hand, are lower than Spain, where the percentage is sixty-six. The report also pointed out the different challenges that the Irish National Lottery has to face, as their rivals can offer more extensive gambling services that go beyond instant win and draw-based games.
The National Irish Lottery and its Competitors
The National Lottery offers European lottery games, which is called Euro Millions. On the other hand, the competitors offer the Irish consumers the chance to participate in different lotteries from around the world. These lotteries include the Powerball from the US and the US Mega Millions and the French Lottery. These operators also introduced a product that was not available, until recently to the players of the Irish National Lottery.
The figures also showed that the National Lottery contributed more than 1.97 billion Euros, both indirectly and directly to customer expenditure in 2018, and even offered more than 17000 job opportunities and generated 226 million Euros for good causes. Earlier in 2018, the CEO of the National Lottery, Dermot Griffin, warned the parliament that if the un-regulated offshore lottery operators gain a great foothold in the country, the amount of money it raised for the charities will fall quite quickly. He stated that these operators have been growing exponentially for the last eighteen months. These activities post a great threat to the National Irish lottery, and he appealed to the elected representatives to take action to protect the Irish National Lottery.