The gambling sector has experienced tremendous growth over the past decade and has been one of the industries that has been truly transformed thanks to widespread internet access.
In the past, people would have to go out of their way to place a bet – often into what can, for some, be deemed to be intimidating environments, like betting shops and casinos.
But since the internet has reached the masses – and especially the rise of the smartphone – gambling has been transformed from a shady pastime into a fun, casual and even social activity.
While sport bookmakers and online casinos were first onto the scene having already developed a substantial offline presence, the real area of growth this decade has come in new innovations – either through pure innovation that would never have previously been possible in an offline world, or through the evolvement of previously monopolised sectors, like the lottery.
Indeed, the concept of lottery betting has exploded onto the public consciousness in the space of little more than five years.
Lottoland was at the forefront of this move. The company launched in just 2013 but has grown at such a rate that it reached over 9 million customers coming into 2019 – and you can bet the 10 millionth won’t be far away either.
And it’s not just in the gambling industry that Lottoland has caused a stir.
In March, the Financial Times put together its third annual FT 1000 list of Europe’s fastest-growing companies.
Lottoland ranked as the 304th fastest growing company in Europe, on a list that also included prestigious names such as Deliveroo, Taxify and Hellofresh.
The list was compiled by comparing companies with the highest compound annual growth rate between 2014 and 2017.
To give you an idea of the scale of what Lottoland has achieved, they recorded revenues of €277.9 million in 2017 with a staggering absolute growth rate of 489%. However, these figures only go as far as 2017 and don’t show the true extent of Lottoland’s growth. The company was reported to have generated revenues in excess of €1 billion in 2018.
Much of Lottoland’s growth comes thanks to its award-winning affiliate program, with the company awarding an incredibly generous share of up to 35% on net revenue to partners.
The lottery betting market as a whole is still in the midst of rapid growth and is still far from reaching maturity, but Lottoland continues to lead the way.
Of course, many challenges lie ahead of Lottoland and its competitors, with localised lottery monopolies like Camelot, which runs the National Lottery, recognising just how popular and appealing lottery betting services are to players due to the greater levels of product choice, prizes and promotions available to them. Nevertheless, the growth of lottery betting shows no signs of slowing.
The next step for Lottoland? Sweden. After huge growth in the UK, Germany and countless others, Lottoland has set its sights on Scandinavia, with the company currently looking for affiliate partners to team up with and share its success with.