Online Sports Betting - Ivory Coast

Revenue in the Online Sports Betting market is projected to reach US$57.94m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.68%, resulting in a projected market volume of US$75.04m by 2028.
In the Online Sports Betting market, the number of users is expected to amount to 175.1k users by 2028.
User penetration will be 0.5% in 2024 and is expected to hit 0.5% by 2028.
The average revenue per user (ARPU) is expected to amount to US$411.60.
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 Ivory Coast has been experiencing significant growth in recent years, driven by several key factors.

Customer preferences: One of the main reasons for the development of the Online Sports Betting market in Ivory Coast is the increasing popularity of sports and the desire for fans to engage more actively with their favorite teams and athletes. Online sports betting provides an interactive and exciting way for sports enthusiasts to participate in the games they love, adding an extra level of excitement and engagement to the overall experience. Additionally, the convenience of being able to place bets online from the comfort of one's own home or on-the-go through mobile devices has also contributed to the growing demand for online sports betting in Ivory Coast.

Trends in the market: A major trend in the Online Sports Betting market in Ivory Coast is the shift towards mobile betting. With the widespread availability of smartphones and improved internet connectivity, more and more people are accessing online betting platforms through their mobile devices. This trend is driven by the convenience and accessibility offered by mobile betting apps, allowing users to place bets anytime and anywhere. As a result, online sports betting operators in Ivory Coast are investing heavily in developing user-friendly mobile platforms to cater to this growing demand. Another trend in the market is the increasing variety of sports and betting options available to customers. Online sports betting platforms in Ivory Coast are expanding their offerings beyond traditional sports like football and basketball to include a wider range of sports such as tennis, rugby, and even eSports. This diversification of betting options is aimed at attracting a broader customer base and catering to the specific preferences of different sports fans.

Local special circumstances: In Ivory Coast, football is the most popular sport, and this passion for the game has a significant impact on the Online Sports Betting market. Football matches, especially those involving the national team or popular international leagues, attract a large number of bettors. This local enthusiasm for football has created a strong market for online sports betting operators to capitalize on.

Underlying macroeconomic factors: The growing middle class in Ivory Coast, along with improving internet infrastructure and increased smartphone penetration, has created a favorable environment for the development of the Online Sports Betting market. As more people have access to disposable income and internet connectivity, they are more likely to engage in online betting activities. Additionally, the overall economic growth in Ivory Coast has contributed to the increase in consumer spending, including in the entertainment and leisure sectors, such as online sports betting. In conclusion, the Online Sports Betting market in Ivory Coast is developing due to the increasing popularity of sports, the convenience of online betting, and the growing middle class with disposable income. The shift towards mobile betting and the expansion of betting options are also shaping the market. Furthermore, the local passion for football and the overall economic growth in Ivory Coast have created a conducive environment for the growth of the online sports betting industry.

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.