The Online Sports Betting market in Southern Europe has been experiencing significant growth in recent years, driven by customer preferences for convenience and the increasing popularity of online gambling.
Customer preferences: Customers in Southern Europe are increasingly turning to online sports betting as a convenient and accessible way to engage in gambling activities. The ease of placing bets from the comfort of their own homes or on-the-go through mobile devices has made online sports betting a preferred choice for many. Additionally, the wide variety of sports and betting options available online cater to the diverse interests of customers in the region.
Trends in the market: One of the key trends in the online sports betting market in Southern Europe is the adoption of mobile betting. With the proliferation of smartphones and improved internet connectivity, more customers are using their mobile devices to place bets on sports events. This trend is expected to continue as mobile technology advances and becomes even more integrated into people's daily lives. Another trend in the market is the increasing popularity of in-play betting. This form of betting allows customers to place bets on live sports events as they unfold, adding an element of excitement and engagement. In-play betting has gained traction in Southern Europe due to its interactive nature and the ability to make quick decisions based on real-time information.
Local special circumstances: Southern Europe has a strong sports culture, with football being particularly popular in countries such as Spain, Italy, and Greece. This passion for sports has contributed to the growth of the online sports betting market in the region, as customers are eager to engage with their favorite teams and players through betting. Furthermore, the regulatory landscape for online sports betting in Southern Europe has become more favorable in recent years. Several countries in the region have introduced legislation to regulate and legalize online gambling, providing a more secure and transparent environment for customers. This has boosted customer confidence and attracted new players to the market.
Underlying macroeconomic factors: The improving economic conditions in Southern Europe have also played a role in the growth of the online sports betting market. As disposable incomes increase and unemployment rates decline, customers have more discretionary income to spend on leisure activities, including online gambling. This has created a larger customer base for online sports betting operators in the region. In conclusion, the Online Sports Betting market in Southern Europe is experiencing growth due to customer preferences for convenience and the popularity of online gambling. The adoption of mobile betting and in-play betting, along with the strong sports culture and favorable regulatory landscape, have contributed to the expansion of the market. Additionally, improving macroeconomic conditions have fueled the growth by providing customers with more disposable income.
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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