The Online Sports Betting market in Australia & Oceania is experiencing significant growth and development due to several key factors.
Customer preferences: Customers in Australia & Oceania have shown a strong preference for online sports betting due to its convenience and accessibility. With the increasing penetration of smartphones and internet connectivity in the region, more people are opting to place bets online rather than visiting physical betting shops. Additionally, the wide range of sports and betting options available online allows customers to find their preferred markets and place bets with ease.
Trends in the market: One of the major trends in the Online Sports Betting market in Australia & Oceania is the increasing popularity of in-play betting. This allows customers to place bets on live sporting events as they unfold, adding an extra level of excitement and engagement. The availability of real-time data and live streaming of sports events has contributed to the growth of in-play betting, as customers can make more informed decisions based on the current state of the game. Another trend in the market is the rise of mobile betting apps. As mentioned earlier, the high smartphone penetration in the region has led to an increased demand for mobile betting platforms. Customers can now place bets on their favorite sports anytime and anywhere, making it more convenient and accessible than ever before. Mobile betting apps also offer additional features such as live streaming, notifications, and personalized offers, enhancing the overall betting experience for customers.
Local special circumstances: Australia, in particular, has a strong sports culture, with sports like cricket, rugby, and Australian rules football being immensely popular. This passion for sports has translated into a strong demand for sports betting in the country. The Australian government has also implemented regulations to ensure the integrity of sports betting, which has further boosted customer confidence in online platforms.
Underlying macroeconomic factors: The growing economy in Australia & Oceania has contributed to the development of the Online Sports Betting market. As disposable incomes rise, more people are willing to spend money on leisure activities, including sports betting. Additionally, the region's stable political environment and favorable regulatory framework have attracted both domestic and international operators to invest in the market. In conclusion, the Online Sports Betting market in Australia & Oceania is experiencing rapid growth and development due to customer preferences for convenience and accessibility, as well as the availability of mobile betting apps and the popularity of in-play betting. The strong sports culture in the region, along with a growing economy and favorable regulatory environment, further contribute to the market's expansion.
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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