Online Sports Betting - Central America

Revenue in the Online Sports Betting market is projected to reach US$98.19m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.22%, resulting in a projected market volume of US$125.00m by 2028.
In the Online Sports Betting market, the number of users is expected to amount to 220.4k users by 2028.
User penetration will be 0.3% in 2024 and is expected to hit 0.4% by 2028.
The average revenue per user (ARPU) is expected to amount to US$554.20.
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 Central America is experiencing significant growth and development due to various factors.

Customer preferences: In Central America, there is a growing interest in online sports betting among customers. This can be attributed to several factors such as the increasing popularity of sports, the convenience of online platforms, and the desire for entertainment and excitement. Customers are drawn to the ease of placing bets online and the availability of a wide range of sports events to bet on. Additionally, the potential for winning money adds to the appeal of online sports betting for many customers in Central America.

Trends in the market: One of the key trends in the online sports betting market in Central America is the rise of mobile betting. With the increasing penetration of smartphones and internet access, more customers are using their mobile devices to place bets on sports events. This trend is driven by the convenience and accessibility of mobile betting platforms, allowing customers to place bets anytime and anywhere. Another trend in the market is the expansion of online sports betting platforms. As more customers in Central America show interest in online sports betting, there is a growing number of platforms that cater to this demand. These platforms offer a wide range of sports events, competitive odds, and user-friendly interfaces to attract and retain customers.

Local special circumstances: Central America has a strong passion for sports, particularly football (soccer). This passion for sports contributes to the popularity of online sports betting in the region. Football matches, both local and international, attract a large number of bettors who are eager to support their favorite teams and players. The excitement and thrill of the game, combined with the opportunity to win money, make online sports betting an appealing activity for many in Central America.

Underlying macroeconomic factors: The growth of the online sports betting market in Central America is also influenced by underlying macroeconomic factors. Economic stability and increasing disposable income in the region have contributed to the growth of the online sports betting industry. As the economy improves, more people have the financial means to participate in online sports betting and are willing to spend money on this form of entertainment. Additionally, advancements in technology and the expansion of internet infrastructure have made it easier for customers in Central America to access online sports betting platforms, further driving market growth. Overall, the Online Sports Betting market in Central America is developing rapidly due to customer preferences for convenience and entertainment, the rise of mobile betting, the expansion of online platforms, the passion for sports in the region, and underlying macroeconomic factors such as economic stability and technological advancements. These factors are expected to continue driving the growth of the market in the coming years.

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.