Market Insights Digital eServices Online Gambling

Online Lottery - Nordics

Nordics

Revenue in the Online Lottery market is projected to reach US$1.18bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.65%, resulting in a projected market volume of US$1.47bn by 2028.
In the Online Lottery market, the number of users is expected to amount to 0.8m users by 2028.
User penetration will be 0.00 in 2024 and is expected to hit 0.00 by 2028.
The average revenue per user (ARPU) is expected to amount to US$1.87k.
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 Nordics has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing availability of online gambling platforms.

Customer preferences: In the Nordics, there is a strong cultural tradition of participating in lotteries and other forms of gambling. The convenience and accessibility of online lottery platforms have made it easier for customers to participate in their favorite games from the comfort of their own homes. Additionally, online platforms often offer a wider variety of lottery games and bigger jackpots, which has further attracted customers to the online lottery market.

Trends in the market: One of the key trends in the Online Lottery market in Nordics is the increasing popularity of mobile gambling. With the widespread use of smartphones and tablets, customers now have the ability to play lottery games anytime and anywhere. This has led to a surge in mobile lottery apps and mobile-friendly websites, catering to the growing demand for mobile gambling experiences. Another trend in the market is the emergence of innovative lottery formats. Traditional lottery games are being supplemented with new and exciting variations, such as instant win games and scratch cards. These formats offer customers a different and more interactive gaming experience, attracting a wider audience to the online lottery market.

Local special circumstances: The Nordics have a high level of internet penetration and a tech-savvy population, which has contributed to the growth of the online lottery market. The region also has a strong regulatory framework for gambling, ensuring that customers are protected and that operators adhere to strict standards. This has created a safe and trustworthy environment for online lottery players, further fueling the market growth.

Underlying macroeconomic factors: The strong economic performance in the Nordics has also played a role in the growth of the online lottery market. As disposable incomes have increased, customers have more discretionary income to spend on leisure activities, including gambling. The stability of the economy and high living standards have also created a favorable environment for the growth of the online lottery market. In conclusion, the Online Lottery market in Nordics is experiencing significant growth due to changing customer preferences, the increasing availability of online platforms, and the emergence of innovative lottery formats. The region's high level of internet penetration, tech-savvy population, strong regulatory framework, and favorable macroeconomic factors have all contributed to the market's development.

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.