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Online Sports Betting - Bosnia and Herzegovina

Bosnia and Herzegovina

Revenue in the Online Sports Betting market is projected to reach US$16.22m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.61%, resulting in a projected market volume of US$21.31m by 2029.
In the Online Sports Betting market, the number of users is expected to amount to 35.2k users by 2029.
User penetration will be 0.8% in 2024 and is expected to hit 1.1% by 2029.
The average revenue per user (ARPU) is expected to amount to US$0.60k.
In global comparison, most revenue will be generated in the United States (US$14,300.00m in 2024).
With a projected rate of 48.8%, the user penetration in the Online Sports Betting market is highest in Canada.

Market

Region

Region comparison

Currency

Analyst Opinion

The Online Sports Betting market in Bosnia and Herzegovina has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for this growth is the increasing popularity of online gambling among the population. Bosnians have shown a growing interest in sports betting, with many people enjoying the excitement and thrill of predicting the outcome of their favorite sports events. The convenience of being able to place bets online has also contributed to the rise in popularity of online sports betting in the country.

Trends in the market: Another trend in the market is the increasing number of online sports betting platforms available to Bosnian customers. This has led to a more competitive market, with operators offering attractive promotions and bonuses to attract new customers. The availability of a wide range of sports events to bet on, including both local and international matches, has also contributed to the growth of the market.

Local special circumstances: One of the unique aspects of the Online Sports Betting market in Bosnia and Herzegovina is the strong presence of local sports. Bosnians are passionate about their local football teams and often place bets on their matches. This has created a strong demand for online sports betting platforms that offer betting options for local sports events. Additionally, the relatively low cost of living in Bosnia and Herzegovina has made online sports betting an affordable form of entertainment for many people.

Underlying macroeconomic factors: The growth of the Online Sports Betting market in Bosnia and Herzegovina can also be attributed to certain macroeconomic factors. The country has seen steady economic growth in recent years, which has led to an increase in disposable income for many Bosnians. This has allowed more people to participate in online sports betting and has contributed to the overall growth of the market. In conclusion, the Online Sports Betting market in Bosnia and Herzegovina is experiencing significant growth due to the increasing popularity of online gambling, the availability of a wide range of betting platforms, the passion for local sports, and the favorable macroeconomic conditions. As the market continues to evolve, it is expected that online sports betting will continue to thrive in Bosnia and Herzegovina.

Methodology

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.