Online Sports Betting - Belgium | Statista Market Forecast

Revenue in the Online Sports Betting market is projected to reach US$439.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.82%, resulting in a projected market volume of US$556.50m by 2029.
In the Online Sports Betting market, the number of users is expected to amount to 863.6k users by 2029.
User penetration will be 5.7% in 2024 and is expected to hit 7.3% by 2029.
The average revenue per user (ARPU) is expected to amount to US$659.20.
In global comparison, most revenue will be generated United States (US$14.30bn in 2024).
With a projected rate of 48.8%, the user penetration in the Online Sports Betting market is highest Canada.

Definition:

The online sports betting market refers to the segment of the online gambling industry that involves placing bets on various sports events over the internet. This includes a wide range of sports, such as football, basketball, baseball, horse racing, tennis, and many others. Online sports betting allows customers to place bets on the outcome of sporting events in real-time, either before or during the event. These bets can be placed through various online platforms, including websites and mobile apps, which are often operated by licensed online sportsbook operators.

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 revenue shares of the total betting market. User and revenue figures represent B2C services.

Online sports betting on various sports such as football, basketball, tennis, cricket, golf, etc.
Esports betting on sports simulation games such as FIFA, NBA 2K, and Madden NFL
Proposition betting on specific events or outcomes in a sports game

Offline or land-based sports betting establishments such as sportsbooks and race tracks
Betting on non-sporting events such as politics, entertainment, and reality TV shows
Illegal or unlicensed online sports betting websites or apps.

The Online Sports Betting market in Belgium has experienced significant growth in recent years, driven by changing customer preferences and favorable market trends.

Customer preferences: Belgian customers have shown a growing interest in online sports betting, as it provides them with convenience, accessibility, and a wide range of betting options. The ability to place bets from the comfort of their own homes or on-the-go through mobile devices has attracted a large number of customers to the online platform. Additionally, the availability of live streaming and real-time updates on sports events has enhanced the overall betting experience for customers.

Trends in the market: One of the key trends in the Belgian online sports betting market is the increasing popularity of in-play betting. This allows customers to place bets during a live sports event, adding an element of excitement and engagement. The rise of in-play betting can be attributed to advancements in technology, such as faster internet connections and improved mobile apps, which enable real-time updates and quick betting options. Another trend in the market is the growing adoption of virtual sports betting. Virtual sports simulate real sports events using computer-generated graphics and algorithms. This form of betting appeals to customers who are looking for instant gratification and do not want to wait for the outcome of a real sports event. The availability of virtual sports throughout the day, regardless of the actual sports schedule, has contributed to its popularity among customers.

Local special circumstances: Belgium has a well-established gambling culture, with a long history of land-based casinos and betting shops. The legalization of online sports betting in 2011 created new opportunities for both existing operators and new entrants. The Belgian government has implemented strict regulations to ensure a fair and transparent market, including licensing requirements and measures to prevent problem gambling. These regulations have helped to build trust among customers and create a safe and regulated online betting environment.

Underlying macroeconomic factors: The Belgian economy has been relatively stable in recent years, with a moderate GDP growth rate. This has provided consumers with disposable income to spend on leisure activities, including online sports betting. Additionally, the increasing penetration of smartphones and internet connectivity has made online betting more accessible to a larger segment of the population. The combination of a stable economy and technological advancements has created a favorable environment for the growth of the online sports betting market in Belgium. In conclusion, the Online Sports Betting market in Belgium has experienced significant growth due to changing customer preferences, including the demand for convenience and a wide range of betting options. The popularity of in-play betting and virtual sports has contributed to this growth. The Belgian market benefits from a well-established gambling culture, strict regulations, and a stable macroeconomic environment. These factors have created a favorable landscape for the development of the online sports betting industry in Belgium.

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.

Sports betting is a type of gambling that refers to the activity of placing a wager on the outcome of a sporting event. Events on which wagers are made could be anything from more traditional activities like horse or dog racing to sports such as soccer and American football. Bets are typically made through bookmakers, also known as sportsbooks. These operate both as land-based establishments, for example, at casinos or betting shops, and online. The total amount of money wagered by bettors is known as a handle, while the amount of money earned by a sportsbook after paying out the winners is revenue. In 2022, the sports betting and lottery market size worldwide amounted to 235.46 billion U.S. dollars.