Online Gambling

Revenue in the Online Gambling market is projected to reach US$4.96bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.81%, resulting in a projected market volume of US$6.27bn by 2029.
The Online Casinos market has a projected market volume of US$2.39bn in 2024.
In global comparison, most revenue will be generated United States (US$24.98bn in 2024).
The average revenue per user (ARPU) in the Online Gambling market is projected to amount to US$1.27k in 2024.
In the Online Gambling market, the number of users is expected to amount to 4.6m users by 2029.
User penetration in the Online Gambling market will be at 14.0% in 2024.

Definition:

The online gambling market includes various forms of online wagering activities, such as online sports betting, online casino games, and online lottery games. The regulations vary by country, with some countries allowing all forms of online gambling, while others restrict certain types (i.e., Australia's ban on online casinos and interactive games). However, in general, the market is dominated by a few large operators who offer a wide range of online gambling services to customers around the world.

Structure:

Online betting involves placing bets on various sports events, such as football, basketball, and horse racing, while online casino games include a range of traditional casino games, such as poker, blackjack, and roulette, that can be played over the internet. Online lottery games involve purchasing tickets for various lotteries, such as national and international lotteries, over the internet.

Additional Information

Data includes revenue figures in Gross Gambling Revenue (GGR), which is the total amount of bets placed by customers minus the amount paid out in winnings, Users, average revenue per user (ARPU), user penetration rate, and online and offline shares of the total gambling market. User and revenue figures represent B2C services.

Online casinos such as Tipico games
Online sports betting such as Bet365
Online poker rooms such as Pokerstars
Online lottery such as Lottoland

Offline gambling activities such as betshops or land-based casinos
Illegal gambling websites and activities
Online trading, investing, or other financial activities that involve a risk of loss

Nordics is a region known for its high internet penetration and tech-savvy population. It comes as no surprise that the Online Gambling market in Nordics has been experiencing significant growth in recent years.

Customer preferences: The convenience and accessibility of online gambling platforms have attracted a large number of customers in the Nordics. With the rise of smartphones and mobile applications, people can now easily access online gambling services anytime and anywhere. In addition, the Nordics have a strong tradition of gambling, and online platforms have provided a new and exciting way for people to engage in their favorite pastime.

Trends in the market: One of the key trends in the online gambling market in the Nordics is the increasing popularity of live casino games. These games offer an immersive and interactive experience, allowing players to interact with real dealers and other players in real-time. This trend is driven by the desire for a more authentic and social gambling experience. Another trend is the growing demand for sports betting, especially in countries like Sweden and Norway where sports are highly popular. The availability of a wide range of sports events and the ability to place bets in real-time have contributed to the growth of this segment.

Local special circumstances: One of the unique aspects of the Nordics is the strong emphasis on responsible gambling. The region has implemented strict regulations and measures to ensure the safety and well-being of players. Online gambling operators are required to have licenses and adhere to responsible gambling practices, such as providing tools for self-exclusion and setting deposit limits. This focus on responsible gambling has helped to build trust and confidence among customers, further fueling the growth of the market.

Underlying macroeconomic factors: The strong economy and high disposable income in the Nordics have also played a role in the growth of the online gambling market. With more disposable income, people have more money to spend on leisure activities, including online gambling. In addition, the region's high internet penetration rate and advanced digital infrastructure have created a favorable environment for the development of online gambling platforms. The availability of fast and reliable internet connections has made it easier for people to access online gambling services and enjoy a seamless gaming experience. In conclusion, the Online Gambling market in the Nordics is experiencing significant growth due to the convenience and accessibility of online platforms, the popularity of live casino games and sports betting, the emphasis on responsible gambling, and the region's strong economy and advanced digital infrastructure. As these trends continue to evolve, the market is expected to expand further in the coming years.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services.

Modeling approach:

Market size is determined through a Top-Down approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.

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