The Online Lottery market in Bosnia and Herzegovina has been experiencing significant growth in recent years.
Customer preferences: Bosnia and Herzegovina is a country where gambling is popular and widely accepted. The online lottery market has gained traction among the population due to its convenience and accessibility. Customers prefer the online lottery over traditional lottery outlets because it allows them to participate in various lotteries from the comfort of their own homes. Additionally, online platforms offer a wider range of lottery games and larger jackpots, which attract more customers.
Trends in the market: One of the major trends in the online lottery market in Bosnia and Herzegovina is the increasing use of mobile devices for lottery participation. With the widespread availability of smartphones and the improvement of mobile internet connectivity, more people are opting to play the lottery on their mobile devices. This trend is driven by the convenience and ease of use that mobile platforms offer. Another trend in the market is the emergence of online lottery syndicates. These syndicates allow customers to pool their money and buy more tickets, increasing their chances of winning. This trend has gained popularity as it offers a cost-effective way for customers to participate in multiple lotteries and increase their odds of winning.
Local special circumstances: Bosnia and Herzegovina has a relatively small population compared to other countries, which creates a unique market dynamic for the online lottery industry. The limited number of players in the market means that online lottery operators need to focus on customer retention and loyalty. This can be achieved through personalized promotions, loyalty programs, and targeted marketing campaigns.
Underlying macroeconomic factors: The growth of the online lottery market in Bosnia and Herzegovina can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income. As a result, more people have the financial means to participate in the lottery and are willing to spend money on online lottery tickets. In conclusion, the Online Lottery market in Bosnia and Herzegovina is developing rapidly due to customer preferences for convenience and accessibility, the increasing use of mobile devices for lottery participation, the emergence of online lottery syndicates, the need for customer retention and loyalty in a small market, and favorable macroeconomic factors such as economic growth and increased disposable income.
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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