Online Gambling

Revenue in the Online Gambling market is projected to reach US$314.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.96%, resulting in a projected market volume of US$420.60m by 2029.
The Online Sports Betting market has a projected market volume of US$169.00m in 2024.
In global comparison, most revenue will be generated United States (US$24.98bn in 2024).
The average revenue per user (ARPU) in the Online Gambling market is projected to amount to US$439.40 in 2024.
In the Online Gambling market, the number of users is expected to amount to 880.6k users by 2029.
User penetration in the Online Gambling market will be at 2.1% in 2024.

Definition:

The online gambling market includes various forms of online wagering activities, such as online sports betting, online casino games, and online lottery games. The regulations vary by country, with some countries allowing all forms of online gambling, while others restrict certain types (i.e., Australia's ban on online casinos and interactive games). However, in general, the market is dominated by a few large operators who offer a wide range of online gambling services to customers around the world.

Structure:

Online betting involves placing bets on various sports events, such as football, basketball, and horse racing, while online casino games include a range of traditional casino games, such as poker, blackjack, and roulette, that can be played over the internet. Online lottery games involve purchasing tickets for various lotteries, such as national and international lotteries, over the internet.

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 online and offline shares of the total gambling market. User and revenue figures represent B2C services.

Online casinos such as Tipico games
Online sports betting such as Bet365
Online poker rooms such as Pokerstars
Online lottery such as Lottoland

Offline gambling activities such as betshops or land-based casinos
Illegal gambling websites and activities
Online trading, investing, or other financial activities that involve a risk of loss

The Online Gambling market in Peru has been experiencing significant growth in recent years, driven by changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Peruvian customers have shown a growing interest in online gambling due to its convenience and accessibility. With the increasing penetration of smartphones and internet connectivity, more people are opting for online gambling platforms as a form of entertainment. Additionally, the younger generation, who are more tech-savvy, are more inclined to participate in online gambling activities.

Trends in the market: One of the key trends in the Peruvian online gambling market is the rise of sports betting. Peru has a strong sports culture, with football being the most popular sport. As a result, there has been a surge in online sports betting platforms, allowing customers to place bets on their favorite teams and players. This trend is expected to continue as more sports enthusiasts embrace online gambling. Another trend in the market is the increasing popularity of online casino games. Peruvian customers are showing a growing interest in playing a variety of casino games, such as slots, poker, and roulette, online. This trend can be attributed to the convenience and variety of games offered by online casinos, as well as the potential for winning big jackpots.

Local special circumstances: Peru has a relatively relaxed regulatory environment for online gambling, which has contributed to its growth. The Peruvian government has implemented regulations to ensure the safety and fairness of online gambling activities, while also allowing operators to offer a wide range of games and betting options. This favorable regulatory framework has attracted both domestic and international online gambling operators to enter the Peruvian market.

Underlying macroeconomic factors: The Peruvian economy has been growing steadily in recent years, which has contributed to the growth of the online gambling market. As the economy improves, people have more disposable income to spend on leisure activities, including online gambling. Additionally, the increasing internet penetration and smartphone adoption rates have made online gambling more accessible to a larger population. In conclusion, the Online Gambling market in Peru is experiencing significant growth due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. With the increasing popularity of online sports betting and casino games, along with a favorable regulatory environment and a growing economy, the online gambling market in Peru is expected to continue its upward trajectory.

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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