Online Sports Betting - Cameroon | Statista Market Forecast

Revenue in the Online Sports Betting market is projected to reach US$38.12m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.48%, resulting in a projected market volume of US$50.88m by 2028.
In the Online Sports Betting market, the number of users is expected to amount to 140.1k users by 2028.
User penetration will be 0.4% in 2024 and is expected to hit 0.4% by 2028.
The average revenue per user (ARPU) is expected to amount to US$338.60.
In global comparison, most revenue will be generated Australia (US$9.76bn in 2024).
With a projected rate of 48.9%, the user penetration in the Online Sports Betting market is highest Canada.

Definition:

The online sports betting market refers to the segment of the online gambling industry that involves placing bets on various sports events over the internet. This includes a wide range of sports, such as football, basketball, baseball, horse racing, tennis, and many others. Online sports betting allows customers to place bets on the outcome of sporting events in real-time, either before or during the event. These bets can be placed through various online platforms, including websites and mobile apps, which are often operated by licensed online sportsbook operators.

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 revenue shares of the total betting market. User and revenue figures represent B2C services.

Online sports betting on various sports such as football, basketball, tennis, cricket, golf, etc.
Esports betting on sports simulation games such as FIFA, NBA 2K, and Madden NFL
Proposition betting on specific events or outcomes in a sports game

Offline or land-based sports betting establishments such as sportsbooks and race tracks
Betting on non-sporting events such as politics, entertainment, and reality TV shows
Illegal or unlicensed online sports betting websites or apps.

The Online Sports Betting market in Cameroon has been experiencing significant growth in recent years.

Customer preferences: Customers in Cameroon are increasingly turning to online sports betting as a form of entertainment and a way to potentially earn money. The convenience and accessibility of online platforms allow users to place bets from the comfort of their own homes or on the go through mobile devices. Additionally, the variety of sports and betting options available online cater to a wide range of customer preferences, attracting both casual bettors and avid sports fans.

Trends in the market: One of the key trends in the online sports betting market in Cameroon is the increasing popularity of live betting. Live betting allows customers to place bets on sporting events in real-time, adding an extra element of excitement and engagement. This trend is driven by advancements in technology, such as faster internet speeds and improved mobile connectivity, which enable real-time updates and seamless betting experiences. Another trend in the market is the growing integration of social media and online sports betting. Many online betting platforms in Cameroon are leveraging social media channels to engage with customers, provide updates on odds and promotions, and create a sense of community among bettors. This trend not only helps to attract new customers but also enhances the overall betting experience for existing users.

Local special circumstances: Cameroon has a strong sports culture, with football being the most popular sport in the country. The passion for football translates into a high demand for sports betting, particularly during major football tournaments such as the Africa Cup of Nations and the FIFA World Cup. Online sports betting platforms in Cameroon capitalize on this enthusiasm by offering a wide range of football betting options, including bets on local and international matches.

Underlying macroeconomic factors: The growth of the online sports betting market in Cameroon is also influenced by macroeconomic factors such as increasing internet penetration and smartphone adoption. As more Cameroonians gain access to the internet and smartphones, the potential customer base for online sports betting expands. Additionally, the country's young and tech-savvy population is more likely to engage in online activities, including sports betting, further driving the market growth. In conclusion, the Online Sports Betting market in Cameroon is experiencing significant growth due to customer preferences for convenience, variety, and engagement. The trends of live betting and integration with social media are shaping the market landscape. The local sports culture, particularly the passion for football, contributes to the demand for online sports betting. Furthermore, underlying macroeconomic factors such as increasing internet penetration and smartphone adoption are driving the market expansion.

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.

Sports betting is a type of gambling that refers to the activity of placing a wager on the outcome of a sporting event. Events on which wagers are made could be anything from more traditional activities like horse or dog racing to sports such as soccer and American football. Bets are typically made through bookmakers, also known as sportsbooks. These operate both as land-based establishments, for example, at casinos or betting shops, and online. The total amount of money wagered by bettors is known as a handle, while the amount of money earned by a sportsbook after paying out the winners is revenue. In 2022, the sports betting and lottery market size worldwide amounted to 235.46 billion U.S. dollars.