Online Casinos - Lithuania | Statista Market Forecast

Revenue in the Online Casinos market is projected to reach US$116.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.39%, resulting in a projected market volume of US$133.40m by 2028.
In the Online Casinos market, the number of users is expected to amount to 77.7k users by 2028.
User penetration will be 2.9% in 2024 and is expected to hit 3.1% by 2028.
The average revenue per user (ARPU) is expected to amount to US$1.57k.
In global comparison, most revenue will be generated United States (US$7.64bn in 2024).
With a projected rate of 35.7%, the user penetration in the Online Casinos market is highest Canada.

Definition:

The online casinos market refers to the segment of the online gambling industry that offers a range of traditional casino games, such as blackjack, roulette, baccarat, and slot machines, that can be played over the internet. Online casinos provide customers with the opportunity to play these games from the comfort of their own homes or on the go through various devices, including computers, tablets, and smartphones.

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 a breakdown of the product shares of the total online casino market. User and revenue figures represent B2C services.

Online slot machines such as Starburst, Mega Moolah, and Gonzo's Quest
Online card games such as poker, blackjack, baccarat, and their variants
Online roulette games such as European, American, and French roulette

Offline or land-based casino establishments such as casinos and gaming halls
Skill-based games such as chess, backgammon, and Go
Betting on non-casino games such as sports, politics, and entertainment.

The Online Casinos market in Lithuania has been experiencing significant growth in recent years, driven by changing customer preferences and favorable local special circumstances.

Customer preferences: In Lithuania, there has been a growing trend towards online entertainment and gambling, with more people opting to play casino games online rather than visiting physical casinos. This shift in customer preferences can be attributed to several factors. Firstly, online casinos offer convenience and accessibility, allowing players to enjoy their favorite games from the comfort of their own homes. Additionally, online casinos often provide a wider range of games and attractive bonuses, which can be appealing to customers.

Trends in the market: One of the key trends in the Online Casinos market in Lithuania is the increasing popularity of mobile gambling. With the widespread use of smartphones and the availability of high-speed internet connections, more people are choosing to play casino games on their mobile devices. This trend is expected to continue as technology advances and mobile gambling platforms become more sophisticated. Another trend in the market is the emergence of live dealer casinos. These online casinos provide a more immersive and interactive experience for players by offering live streaming of casino games with real dealers. This trend has gained traction in Lithuania as it combines the convenience of online gambling with the social aspect of traditional casinos.

Local special circumstances: Lithuania has a favorable regulatory environment for online casinos, which has contributed to the growth of the market. The country has implemented a licensing system for online gambling operators, ensuring that they meet certain standards of fairness and security. This has helped to build trust among customers and attract reputable online casinos to the market. Furthermore, Lithuania has a relatively high internet penetration rate, with a large percentage of the population having access to the internet. This has created a large potential customer base for online casinos and has contributed to the growth of the market.

Underlying macroeconomic factors: The Online Casinos market in Lithuania is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income for many individuals. This has allowed more people to participate in online gambling and has contributed to the growth of the market. In conclusion, the Online Casinos market in Lithuania is experiencing growth due to changing customer preferences, favorable local special circumstances, and underlying macroeconomic factors. The increasing popularity of online gambling, particularly on mobile devices, and the emergence of live dealer casinos are key trends in the market. The country's favorable regulatory environment and high internet penetration rate have also contributed to the growth of the market.

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.

As an industry seemingly built on chance, the odds of the global casino sector growing in the coming years appear a safe bet. Thanks to the ongoing legalization of gambling-related activities in many parts of the world, licensed casinos have expanded to new markets and generated record-breaking revenue figures. While the market size of the casino and online gambling industry suffered heavily during the coronavirus (COVID-19) pandemic, falling by nearly 100 billion U.S. dollars in 2020, the recovery has been steady. As of 2024, the industry’s market size totaled over billion U.S. dollars. At the center of this growth has been leading casino companies such as MGM Resorts, which alone generated 16.16 billion U.S. dollars in revenue in 2023. Online enterprises specializing in sports betting have also carved out significant chunks of the market share, with Fanduel and DraftKings both ranking as two of the most valuable gambling brands globally in 2024.