Online Gambling - Cameroon | Statista Market Forecast

Revenue in the Online Gambling market is projected to reach US$99.05m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.73%, resulting in a projected market volume of US$128.50m by 2028.
The Online Sports Betting market has a projected market volume of US$38.12m in 2024.
In global comparison, most revenue will be generated United States (US$23.03bn in 2024).
The average revenue per user (ARPU) in the Online Gambling market is projected to amount to US$626.70 in 2024.
In the Online Gambling market, the number of users is expected to amount to 191.3k users by 2028.
User penetration in the Online Gambling market will be at 0.5% 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 Cameroon is experiencing significant growth and development in recent years.

Customer preferences: Customers in Cameroon are increasingly turning to online gambling as a form of entertainment and potential source of income. The convenience and accessibility of online platforms allow them to participate in various gambling activities from the comfort of their homes. Additionally, the wide range of options available, such as sports betting, casino games, and lottery, cater to different customer preferences and interests.

Trends in the market: One of the key trends in the online gambling market in Cameroon is the increasing adoption of mobile devices for gambling activities. With the growing penetration of smartphones and affordable internet connectivity, more customers are accessing online gambling platforms through their mobile devices. This trend has led to the development of mobile-friendly gambling apps and websites, providing a seamless and user-friendly experience for customers. Another trend in the market is the rise of sports betting. Cameroon has a strong passion for football, and sports betting has become a popular way for fans to engage with their favorite teams and players. Online gambling platforms offer a wide range of sports betting options, including local and international football leagues, which attract a large customer base.

Local special circumstances: Cameroon has a relatively young population, with a significant portion of the population under the age of 30. This demographic trend contributes to the growth of the online gambling market, as younger individuals are more likely to be tech-savvy and open to exploring online gambling platforms. The increasing internet penetration in the country also plays a crucial role in the market's development.

Underlying macroeconomic factors: The economic growth and stability in Cameroon have contributed to the expansion of the online gambling market. As disposable incomes increase, more individuals have the financial means to participate in online gambling activities. Additionally, the government's efforts to regulate and legalize the online gambling industry have provided a conducive environment for market growth. In conclusion, the Online Gambling market in Cameroon is experiencing significant growth and development due to the increasing customer preferences for online gambling, the adoption of mobile devices, the rise of sports betting, the young population, and the favorable macroeconomic factors. With the continued advancement of technology and the government's support, the market is expected to further 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. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies, and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, the urban population, the usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.