Online Lottery - North Macedonia

  • North Macedonia
  • Revenue in the Online Lottery market is projected to reach US$3.72m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.05%, resulting in a projected market volume of US$4.53m by 2028.
  • In the Online Lottery market, the number of users is expected to amount to 10.1k 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$0.46k.
  • 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

 
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Analyst Opinion

The Online Lottery market in North Macedonia is experiencing significant growth and development.

Customer preferences:
In recent years, there has been a notable shift in customer preferences towards online lottery platforms in North Macedonia. This can be attributed to several factors, including convenience, accessibility, and a wider variety of lottery games available online. Additionally, online lottery platforms often offer attractive bonuses and promotions, which further incentivize customers to participate in online lottery games.

Trends in the market:
One of the key trends in the online lottery market in North Macedonia is the increasing popularity of mobile lottery applications. With the widespread adoption of smartphones and the availability of high-speed internet connectivity, more and more customers are opting to play lottery games on their mobile devices. This trend is expected to continue as mobile technology continues to advance and become more accessible to a larger portion of the population. Another trend in the market is the emergence of online lottery syndicates. These syndicates allow customers to pool their resources and increase their chances of winning by purchasing a larger number of lottery tickets. This concept has gained traction among customers in North Macedonia, as it provides an opportunity to participate in lottery games with a lower financial commitment.

Local special circumstances:
North Macedonia is a relatively small country with a population of approximately 2 million people. This presents a unique set of circumstances for the online lottery market. While the market size may be smaller compared to larger countries, it also means that there is less competition in the market. This provides an opportunity for online lottery operators to establish a strong presence and capture a significant market share. Additionally, North Macedonia has a relatively high internet penetration rate, with a large portion of the population having access to the internet. This creates a favorable environment for the growth of the online lottery market, as it allows for easy access to online lottery platforms.

Underlying macroeconomic factors:
The growth of the online lottery market in North Macedonia can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, which has resulted in an increase in disposable income for many individuals. This has led to an increase in consumer spending, including participation in online lottery games. Furthermore, the government of North Macedonia has implemented favorable regulations and policies to support the growth of the online lottery market. This includes the establishment of a regulatory framework that ensures fair and transparent operations of online lottery platforms. These regulations provide customers with confidence and trust in the online lottery market, further driving its growth. In conclusion, the Online Lottery market in North Macedonia is experiencing significant growth and development. Customer preferences are shifting towards online platforms due to convenience and accessibility. The market is witnessing trends such as the popularity of mobile lottery applications and the emergence of online lottery syndicates. Local special circumstances, such as a smaller market size and high internet penetration, contribute to the growth of the market. Favorable macroeconomic factors, including steady economic growth and supportive government regulations, also play a role in 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.

Overview

  • Revenue
  • Analyst Opinion
  • Users
  • Global Comparison
  • Methodology
  • Key Market Indicators
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