Online Sports Betting - Norway | Statista Market Forecast

Revenue in the Online Sports Betting market is projected to reach US$240.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.62%, resulting in a projected market volume of US$277.00m by 2028.
In the Online Sports Betting market, the number of users is expected to amount to 530.1k users by 2028.
User penetration will be 7.6% in 2024 and is expected to hit 9.2% by 2028.
The average revenue per user (ARPU) is expected to amount to US$563.90.
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 Norway has been experiencing significant growth in recent years. Customer preferences have shifted towards online platforms, as they offer convenience and a wide range of betting options. Additionally, the market has been influenced by various trends, such as the increasing popularity of mobile betting and the rise of live betting. Local special circumstances, such as strict regulations and a strong sports culture, have also contributed to the development of the market. Furthermore, underlying macroeconomic factors, such as high internet penetration and disposable income levels, have played a role in driving the growth of the Online Sports Betting market in Norway. Customer preferences in the Online Sports Betting market in Norway have shifted towards online platforms due to their convenience and accessibility. With the advent of technology, customers can now place bets from the comfort of their own homes or while on the go. Online platforms also offer a wide range of betting options, allowing customers to choose from various sports and events. This has attracted a larger customer base and increased the overall revenue of the market. One of the key trends in the Online Sports Betting market in Norway is the increasing popularity of mobile betting. With the proliferation of smartphones and mobile applications, customers can now place bets anytime and anywhere. This convenience has led to a surge in mobile betting, as customers can easily access their favorite betting platforms and place bets on the go. Mobile betting has become a major driver of growth in the market, as it appeals to a younger demographic who are more likely to use their smartphones for online activities. Another trend in the market is the rise of live betting. Live betting allows customers to place bets on sporting events as they unfold, adding an element of excitement and engagement. This trend has gained traction in Norway, as customers enjoy the thrill of betting in real-time and adjusting their strategies based on the performance of the teams or players. Live betting has become a popular feature offered by online platforms, attracting more customers and increasing the overall revenue of the market. Local special circumstances in Norway have also contributed to the development of the Online Sports Betting market. The country has strict regulations in place to ensure responsible gambling and protect customers from potential harm. This has created a safe and secure environment for customers to engage in online betting, increasing their trust and confidence in the market. Additionally, Norway has a strong sports culture, with a passionate fan base and a high level of participation in sports activities. This has created a fertile ground for the Online Sports Betting market to thrive, as customers are eager to support their favorite teams and players through betting. Underlying macroeconomic factors have also played a role in driving the growth of the Online Sports Betting market in Norway. The country has a high internet penetration rate, with a large percentage of the population having access to the internet. This has provided a solid foundation for the growth of online platforms, as customers can easily access and engage in online betting. Furthermore, Norway has a high disposable income level, allowing customers to spend more on leisure activities such as online betting. This has increased the overall spending in the market and contributed to its growth. In conclusion, the Online Sports Betting market in Norway has experienced significant growth due to customer preferences shifting towards online platforms, the influence of various trends such as mobile betting and live betting, local special circumstances such as strict regulations and a strong sports culture, and underlying macroeconomic factors such as high internet penetration and disposable income levels. These factors have created a favorable environment for the development of the market and are expected to continue driving its growth in the future.

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.