Online Casinos - Costa Rica | Statista Market Forecast

Revenue in the Online Casinos market is projected to reach US$76.25m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.33%, resulting in a projected market volume of US$98.87m by 2029.
In the Online Casinos market, the number of users is expected to amount to 124.0k users by 2029.
User penetration will be 2.2% in 2024 and is expected to hit 2.3% by 2029.
The average revenue per user (ARPU) is expected to amount to US$656.40.
In global comparison, most revenue will be generated United Kingdom (US$6.47bn in 2024).
With a projected rate of 35.6%, the user penetration in the Online Casinos market is highest Canada.

Definition:

The online casinos market refers to the segment of the online gambling industry that offers a range of traditional casino games, such as blackjack, roulette, baccarat, and slot machines, that can be played over the internet. Online casinos provide customers with the opportunity to play these games from the comfort of their own homes or on the go through various devices, including computers, tablets, and smartphones.

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 a breakdown of the product shares of the total online casino market. User and revenue figures represent B2C services.

Online slot machines such as Starburst, Mega Moolah, and Gonzo's Quest
Online card games such as poker, blackjack, baccarat, and their variants
Online roulette games such as European, American, and French roulette

Offline or land-based casino establishments such as casinos and gaming halls
Skill-based games such as chess, backgammon, and Go
Betting on non-casino games such as sports, politics, and entertainment.

The Online Casinos market in Costa Rica is experiencing significant growth and development in recent years.

Customer preferences: Costa Rica is known for its vibrant tourism industry, attracting millions of visitors each year. Many tourists are drawn to the country's beautiful beaches, lush rainforests, and rich cultural heritage. As a result, there is a growing demand for entertainment options, including online casinos.

Trends in the market: One of the key trends in the online casinos market in Costa Rica is the increasing popularity of mobile gambling. With the widespread use of smartphones and tablets, more and more people are accessing online casinos on their mobile devices. This trend is driven by the convenience and flexibility that mobile gambling offers, allowing players to enjoy their favorite casino games anytime and anywhere. Another trend in the market is the emergence of live dealer casinos. Live dealer casinos provide a more immersive and interactive gaming experience, as players can interact with real-life dealers through live video streaming. This trend is particularly appealing to players who prefer the social aspect of traditional brick-and-mortar casinos.

Local special circumstances: Costa Rica has a unique legal framework when it comes to online gambling. While online gambling is not explicitly regulated in the country, the government has taken a hands-off approach, allowing online casinos to operate freely. This has attracted many international online casino operators to set up their operations in Costa Rica, leading to a thriving online gambling industry. Furthermore, Costa Rica is home to a large number of skilled software developers and IT professionals. This has created a favorable environment for the development of online casino platforms and software solutions. Many online casino operators in Costa Rica benefit from the local talent pool, which enables them to offer innovative and high-quality gaming experiences to their customers.

Underlying macroeconomic factors: The growth of the online casinos market in Costa Rica can also be attributed to favorable macroeconomic factors. The country has a stable economy and a strong middle class, which provides a solid customer base for online casinos. Additionally, Costa Rica has a well-developed telecommunications infrastructure and high internet penetration rates, making it easier for people to access online gambling platforms. In conclusion, the Online Casinos market in Costa Rica is experiencing significant growth and development due to customer preferences for mobile gambling and live dealer casinos, as well as local special circumstances such as a favorable legal framework and a skilled talent pool. These trends are further supported by underlying macroeconomic factors such as a stable economy and high internet penetration rates. As a result, the future of the online casinos market in Costa Rica looks promising, with continued growth expected 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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

As an industry seemingly built on chance, the odds of the global casino sector growing in the coming years appear a safe bet. Thanks to the ongoing legalization of gambling-related activities in many parts of the world, licensed casinos have expanded to new markets and generated record-breaking revenue figures. While the market size of the casino and online gambling industry suffered heavily during the coronavirus (COVID-19) pandemic, falling by nearly 100 billion U.S. dollars in 2020, the recovery has been steady. As of 2024, the industry’s market size totaled over billion U.S. dollars. At the center of this growth has been leading casino companies such as MGM Resorts, which alone generated 16.16 billion U.S. dollars in revenue in 2023. Online enterprises specializing in sports betting have also carved out significant chunks of the market share, with Fanduel and DraftKings both ranking as two of the most valuable gambling brands globally in 2024.