Market Insights Digital eServices Online Gambling

Online Lottery - Bosnia and Herzegovina

Bosnia and Herzegovina

Revenue in the Online Lottery market is projected to reach US$11.32m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.26%, resulting in a projected market volume of US$14.43m by 2028.
In the Online Lottery market, the number of users is expected to amount to 14.6k users by 2028.
User penetration will be 0.4% in 2024 and is expected to hit 0.5% by 2028.
The average revenue per user (ARPU) is expected to amount to US$0.96k.
In global comparison, most revenue will be generated in the United States (US$5,743.00m in 2024).
With a projected rate of 6.5%, the user penetration in the Online Lottery market is highest in South Korea.

Key regions: Asia, Japan, South Korea, United States, Europe

Market

Region

Region comparison

Currency

Analyst Opinion

The Online Lottery market in Bosnia and Herzegovina has been experiencing significant growth in recent years.

Customer preferences: Bosnia and Herzegovina is a country where gambling is popular and widely accepted. The online lottery market has gained traction among the population due to its convenience and accessibility. Customers prefer the online lottery over traditional lottery outlets because it allows them to participate in various lotteries from the comfort of their own homes. Additionally, online platforms offer a wider range of lottery games and larger jackpots, which attract more customers.

Trends in the market: One of the major trends in the online lottery market in Bosnia and Herzegovina is the increasing use of mobile devices for lottery participation. With the widespread availability of smartphones and the improvement of mobile internet connectivity, more people are opting to play the lottery on their mobile devices. This trend is driven by the convenience and ease of use that mobile platforms offer. Another trend in the market is the emergence of online lottery syndicates. These syndicates allow customers to pool their money and buy more tickets, increasing their chances of winning. This trend has gained popularity as it offers a cost-effective way for customers to participate in multiple lotteries and increase their odds of winning.

Local special circumstances: Bosnia and Herzegovina has a relatively small population compared to other countries, which creates a unique market dynamic for the online lottery industry. The limited number of players in the market means that online lottery operators need to focus on customer retention and loyalty. This can be achieved through personalized promotions, loyalty programs, and targeted marketing campaigns.

Underlying macroeconomic factors: The growth of the online lottery market in Bosnia and Herzegovina can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income. As a result, more people have the financial means to participate in the lottery and are willing to spend money on online lottery tickets. In conclusion, the Online Lottery market in Bosnia and Herzegovina is developing rapidly due to customer preferences for convenience and accessibility, the increasing use of mobile devices for lottery participation, the emergence of online lottery syndicates, the need for customer retention and loyalty in a small market, and favorable macroeconomic factors such as economic growth and increased disposable income.

Methodology

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.