The Online Gambling market in South America has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in South America have shifted towards online gambling due to several reasons. Firstly, the convenience and accessibility of online gambling platforms have made it easier for customers to participate in various forms of gambling. With just a few clicks, customers can access a wide range of games and betting options from the comfort of their own homes. Additionally, the increasing popularity of mobile devices has further facilitated the growth of online gambling, as customers can now play on-the-go. Trends in the market have also played a crucial role in the development of the Online Gambling market in South America. One notable trend is the increasing adoption of online sports betting. As sports events and competitions gain more attention in the region, customers are increasingly placing bets on their favorite teams and players. This trend has been further fueled by the legalization and regulation of online gambling in several South American countries, which has created a more favorable environment for operators and customers alike. Local special circumstances have also contributed to the growth of the Online Gambling market in South America. For instance, the region has a large population of young adults who are tech-savvy and more open to trying new forms of entertainment. This demographic is more likely to engage in online gambling activities, leading to increased demand for online gambling platforms. Furthermore, the South American market has traditionally been dominated by land-based casinos, but the rise of online gambling has provided an alternative form of entertainment for customers. Underlying macroeconomic factors have also played a role in the development of the Online Gambling market in South America. Economic growth in the region has led to an increase in disposable income, allowing customers to spend more on leisure activities such as online gambling. Additionally, the growing middle class in South America has created a larger customer base for online gambling operators. As more people have access to the internet and disposable income, the demand for online gambling services has increased. In conclusion, the Online Gambling market in South America has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The convenience and accessibility of online gambling platforms, the increasing adoption of online sports betting, the tech-savvy and open-minded demographics, and the economic growth in the region have all contributed to the development of the market. As these factors continue to evolve, it is expected that the Online Gambling market in South America will continue to expand in the coming years.
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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