Online Sports Betting - EU-27 | Statista Market Forecast

Revenue in the Online Sports Betting market is projected to reach US$11.70bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.18%, resulting in a projected market volume of US$15.06bn by 2029.
In the Online Sports Betting market, the number of users is expected to amount to 28.3m users by 2029.
User penetration will be 5.5% in 2024 and is expected to hit 7.0% by 2029.
The average revenue per user (ARPU) is expected to amount to US$524.40.
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 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.

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.