The Online Sports Betting market in EU-27 is experiencing significant growth and development driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Online Sports Betting market in EU-27 are shifting towards convenience and accessibility. With the widespread use of smartphones and the increasing availability of high-speed internet, customers are increasingly opting for online platforms to place their bets. Online sports betting allows customers to place bets anytime and anywhere, providing them with a convenient and seamless experience. Additionally, customers are also attracted to the wide range of betting options and competitive odds offered by online sports betting platforms. Trends in the market indicate a growing interest in live betting and in-play wagering. Live betting allows customers to place bets on ongoing sports events, adding an element of excitement and engagement. This trend is driven by the desire for instant gratification and the opportunity to capitalize on changing odds during a game. Online sports betting platforms are capitalizing on this trend by offering a seamless live betting experience with real-time updates and interactive features. Local special circumstances also play a role in the development of the Online Sports Betting market in EU-27. Each country within the EU-27 has its own regulations and licensing requirements for online sports betting operators. This creates a fragmented market with varying levels of competition and market saturation. Some countries have more liberal regulations, allowing for a larger number of online sports betting operators, while others have stricter regulations, limiting the number of operators in the market. These local special circumstances impact the growth and development of the market in each country within the EU-27. Underlying macroeconomic factors also contribute to the development of the Online Sports Betting market in EU-27. Economic growth and stability, as well as disposable income levels, play a significant role in driving customer spending on online sports betting. As disposable incomes rise, customers have more discretionary income to spend on leisure activities, including online sports betting. Additionally, economic growth and stability also attract investment in the online sports betting sector, leading to the entry of new players and increased competition in the market. In conclusion, the Online Sports Betting market in EU-27 is developing and growing due to customer preferences for convenience and accessibility, trends in live betting and in-play wagering, local special circumstances including regulations and licensing requirements, and underlying macroeconomic factors such as economic growth and disposable income levels.
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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