Key regions: Brazil, Germany, Japan, Europe, South Korea
The Online Sports Betting market in North Macedonia has seen significant growth in recent years, driven by changing customer preferences and favorable local circumstances.
Customer preferences: Customers in North Macedonia have increasingly turned to online sports betting as their preferred method of gambling. This shift can be attributed to several factors. Firstly, the convenience and accessibility of online platforms allow customers to place bets from the comfort of their own homes, eliminating the need to visit physical betting shops. Additionally, online platforms often offer a wider range of sports and betting options, allowing customers to choose from a variety of markets and odds. Finally, the rise of mobile betting apps has further facilitated the growth of online sports betting, as customers can now place bets on the go, anytime and anywhere.
Trends in the market: The Online Sports Betting market in North Macedonia has experienced steady growth in recent years, with an increasing number of operators entering the market. This trend can be attributed to the growing popularity of online sports betting among customers, as well as the favorable regulatory environment in the country. The government of North Macedonia has implemented regulations to ensure the integrity of online sports betting, including the licensing and supervision of operators. This has created a sense of trust and security among customers, encouraging them to engage in online sports betting activities.
Local special circumstances: One of the key factors contributing to the growth of the Online Sports Betting market in North Macedonia is the country's strong sports culture. North Macedonians are passionate about sports, particularly football, basketball, and handball. This enthusiasm for sports has translated into a high demand for sports betting, as customers seek to enhance their engagement and enjoyment of sporting events. The availability of online sports betting platforms has provided an outlet for this demand, allowing customers to actively participate in the sports they love.
Underlying macroeconomic factors: The growth of the Online Sports Betting market in North Macedonia is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has resulted in increased disposable income among the population. This has allowed customers to allocate a portion of their income towards leisure activities, including online sports betting. Furthermore, the rise of internet penetration and smartphone usage in North Macedonia has provided the infrastructure necessary for the growth of online sports betting. As more customers gain access to the internet and mobile devices, the market for online sports betting is expected to continue expanding.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
