Online Sports Betting - Eastern Europe

Revenue in the Online Sports Betting market is projected to reach US$269.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.31%, resulting in a projected market volume of US$349.50m by 2029.
In the Online Sports Betting market, the number of users is expected to amount to 798.2k users by 2029.
User penetration will be 2.0% in 2024 and is expected to hit 2.5% by 2029.
The average revenue per user (ARPU) is expected to amount to US$418.50.
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 Eastern Europe has experienced significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: In Eastern Europe, there is a growing demand for online sports betting due to several factors. Firstly, the convenience of betting from the comfort of one's own home has attracted many customers who prefer to avoid the hassle of visiting physical betting shops. Additionally, the availability of a wide variety of sports events to bet on, including popular sports such as football, tennis, and basketball, has further fueled the interest in online sports betting. Furthermore, the emergence of mobile betting apps has made it even easier for customers to place bets on the go, contributing to the popularity of online sports betting in the region.

Trends in the market: One of the key trends in the online sports betting market in Eastern Europe is the increasing adoption of live betting. This allows customers to place bets on ongoing matches or events, enhancing the excitement and engagement of the betting experience. Live streaming of sports events has also become more prevalent, enabling customers to watch the games they have bet on in real-time. This trend has been driven by technological advancements and improved internet connectivity, which have made it possible for customers to access live betting platforms and streaming services with ease. Another trend in the market is the growing popularity of esports betting. Esports, which refers to competitive video gaming, has gained a massive following in Eastern Europe, particularly among the younger generation. As a result, online sports betting operators have started to offer betting options on esports tournaments and matches, catering to the preferences of this demographic. The rise of esports has also been fueled by the increasing accessibility of gaming platforms and the growing acceptance of esports as a legitimate form of entertainment.

Local special circumstances: Eastern Europe has a strong sports culture, with a passionate fan base for various sports. Football, in particular, enjoys immense popularity in the region, with many avid supporters following domestic and international leagues. This love for sports has translated into a high demand for sports betting, as fans seek to further engage with their favorite teams and players. Additionally, the region has a competitive gambling landscape, with several local and international online sports betting operators vying for market share. This competition has led to innovative offerings and competitive odds, attracting more customers to the online sports betting market.

Underlying macroeconomic factors: The economic development and increasing disposable income in Eastern Europe have also contributed to the growth of the online sports betting market. As the region experiences economic growth, more individuals have the financial means to participate in online sports betting activities. Furthermore, the proliferation of internet access and smartphones has made online betting more accessible to a larger segment of the population. These underlying macroeconomic factors have created a favorable environment for the expansion of the online sports betting market in Eastern Europe. In conclusion, the Online Sports Betting market in Eastern Europe has witnessed significant growth due to changing customer preferences, emerging trends such as live betting and esports, local special circumstances such as a strong sports culture, and underlying macroeconomic factors including economic development and increasing internet access. This market is expected to continue its upward trajectory as more customers embrace the convenience and excitement of online sports betting.

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.