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The Online Sports Betting market in North Macedonia has seen significant growth in recent years, driven by changing customer preferences and favorable local circumstances.
Customer preferences: Customers in North Macedonia have increasingly turned to online sports betting as their preferred method of gambling. This shift can be attributed to several factors. Firstly, the convenience and accessibility of online platforms allow customers to place bets from the comfort of their own homes, eliminating the need to visit physical betting shops. Additionally, online platforms often offer a wider range of sports and betting options, allowing customers to choose from a variety of markets and odds. Finally, the rise of mobile betting apps has further facilitated the growth of online sports betting, as customers can now place bets on the go, anytime and anywhere.
Trends in the market: The Online Sports Betting market in North Macedonia has experienced steady growth in recent years, with an increasing number of operators entering the market. This trend can be attributed to the growing popularity of online sports betting among customers, as well as the favorable regulatory environment in the country. The government of North Macedonia has implemented regulations to ensure the integrity of online sports betting, including the licensing and supervision of operators. This has created a sense of trust and security among customers, encouraging them to engage in online sports betting activities.
Local special circumstances: One of the key factors contributing to the growth of the Online Sports Betting market in North Macedonia is the country's strong sports culture. North Macedonians are passionate about sports, particularly football, basketball, and handball. This enthusiasm for sports has translated into a high demand for sports betting, as customers seek to enhance their engagement and enjoyment of sporting events. The availability of online sports betting platforms has provided an outlet for this demand, allowing customers to actively participate in the sports they love.
Underlying macroeconomic factors: The growth of the Online Sports Betting market in North Macedonia is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has resulted in increased disposable income among the population. This has allowed customers to allocate a portion of their income towards leisure activities, including online sports betting. Furthermore, the rise of internet penetration and smartphone usage in North Macedonia has provided the infrastructure necessary for the growth of online sports betting. As more customers gain access to the internet and mobile devices, the market for online sports betting is expected to continue expanding.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)