Online Sports Betting - CIS | Statista Market Forecast

Revenue in the Online Sports Betting market is projected to reach US$25.42m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.52%, resulting in a projected market volume of US$31.52m by 2028.
In the Online Sports Betting market, the number of users is expected to amount to 89.3k 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$354.00.
In global comparison, most revenue will be generated Australia (US$9.76bn in 2024).
With a projected rate of 0.0, the user penetration in the Online Sports Betting market is highest 0.0.

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 CIS is experiencing significant growth and development due to various factors.

Customer preferences: Customers in the CIS region have shown a strong preference for online sports betting due to its convenience and accessibility. With the rise of smartphones and the increasing availability of high-speed internet, more people are turning to online platforms to place their bets. The ability to bet on a wide range of sports and events from the comfort of their own homes has also contributed to the popularity of online sports betting in the region.

Trends in the market: One of the key trends in the Online Sports Betting market in CIS is the increasing popularity of live betting. This allows customers to place bets on sporting events in real-time, adding an extra level of excitement and engagement. The availability of live streaming services has further enhanced this trend, as customers can watch the events they are betting on and make more informed decisions. Another trend in the market is the growing number of online sports betting operators entering the CIS region. This has led to increased competition, which has in turn resulted in better odds and promotions for customers. The market is becoming more saturated, with both local and international operators vying for a share of the growing customer base.

Local special circumstances: One of the unique aspects of the CIS region is its passion for sports, particularly football. Football is the most popular sport in the region, and this has a direct impact on the online sports betting market. Customers in the CIS region are particularly interested in betting on football matches, and operators have responded by offering a wide range of betting options and promotions for football events.

Underlying macroeconomic factors: The growing economy in the CIS region has also contributed to the development of the online sports betting market. As disposable incomes increase, more people have the means to participate in online betting activities. Additionally, the relatively young population in the region, combined with a high internet penetration rate, has created a favorable environment for the growth of the online sports betting market. In conclusion, the Online Sports Betting market in CIS is experiencing growth and development due to customer preferences for convenience and accessibility, as well as the increasing popularity of live betting. The market is becoming more competitive, with a growing number of operators entering the region. The passion for sports, particularly football, and the favorable macroeconomic factors in the CIS region further contribute to the development of the online sports betting market.

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.