Online Sports Betting - Finland | Statista Market Forecast

Revenue in the Online Sports Betting market is projected to reach US$280.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.40%, resulting in a projected market volume of US$345.80m by 2028.
In the Online Sports Betting market, the number of users is expected to amount to 489.0k users by 2028.
User penetration will be 7.1% in 2024 and is expected to hit 8.8% by 2028.
The average revenue per user (ARPU) is expected to amount to US$713.00.
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 Finland has been experiencing significant growth in recent years.

Customer preferences: Customers in Finland have shown a strong preference for online sports betting, as it offers convenience and a wide range of betting options. The popularity of online sports betting can be attributed to the ease of access to betting platforms and the ability to place bets from anywhere at any time. Additionally, the availability of live streaming and real-time updates on sports events has further enhanced the betting experience for customers.

Trends in the market: One of the key trends in the online sports betting market in Finland is the increasing adoption of mobile betting. With the widespread use of smartphones and the availability of mobile betting apps, customers can now place bets on their favorite sports events on the go. This trend has significantly contributed to the growth of the online sports betting market in Finland, as it has made betting more accessible and convenient for customers. Another trend in the market is the growing popularity of in-play betting. In-play betting allows customers to place bets on live sports events as they unfold. This real-time betting experience has gained traction among customers in Finland, as it adds an element of excitement and engagement to the betting process. The availability of live streaming and real-time updates has further fueled the demand for in-play betting in the country.

Local special circumstances: Finland has a strong sports culture, with a particular emphasis on ice hockey, football, and skiing. The popularity of these sports has contributed to the growth of the online sports betting market in the country. Customers in Finland are highly engaged in sports events and often place bets on their favorite teams or athletes. This local special circumstance has created a favorable environment for the development of the online sports betting market in Finland.

Underlying macroeconomic factors: The growth of the online sports betting market in Finland can also be attributed to favorable macroeconomic factors. Finland has a high internet penetration rate, with a large percentage of the population having access to the internet. This has provided a strong foundation for the growth of online services, including online sports betting. Additionally, Finland has a stable economy and a high standard of living, which has increased the disposable income of customers. This, in turn, has led to an increase in spending on leisure activities such as online sports betting.

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.