Online Sports Betting - Sweden | Statista Market Forecast

Revenue in the Online Sports Betting market is projected to reach US$513.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.53%, resulting in a projected market volume of US$636.80m by 2028.
In the Online Sports Betting market, the number of users is expected to amount to 922.4k users by 2028.
User penetration will be 7.2% in 2024 and is expected to hit 8.8% by 2028.
The average revenue per user (ARPU) is expected to amount to US$692.40.
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 Sweden has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences have played a crucial role in the growth of the Online Sports Betting market in Sweden. Swedish consumers have shown a strong interest in sports and gambling, making online sports betting an attractive option for many. The convenience and accessibility of online platforms have also contributed to the popularity of this market. Additionally, the increasing use of mobile devices has made it easier for customers to place bets on the go, further driving the growth of the market. Trends in the market have also played a significant role in the development of the Online Sports Betting market in Sweden. The rise of live betting has been a key trend in recent years. This allows customers to place bets on ongoing matches or events, adding an element of excitement and engagement. The integration of social media and online communities has also contributed to the growth of the market, as it allows customers to share their betting experiences and tips with others. Local special circumstances have also influenced the development of the Online Sports Betting market in Sweden. The country has a well-established gambling culture, with a long history of sports betting. The Swedish government has also implemented regulations to ensure the safety and integrity of the market. This has created a favorable environment for online sports betting operators, as customers feel more confident and secure when placing bets. Underlying macroeconomic factors have also played a role in the growth of the Online Sports Betting market in Sweden. The country has a strong economy with high disposable income levels. This has allowed consumers to spend more on leisure activities, including online sports betting. Additionally, the increasing penetration of internet and mobile technology has made it easier for people to access online betting platforms, further driving the growth of the market. In conclusion, the Online Sports Betting market in Sweden has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The strong interest in sports and gambling, the rise of live betting, the well-established gambling culture, and the favorable macroeconomic conditions have all contributed to the development of this market. As these factors continue to evolve, it is expected that the Online Sports Betting market in Sweden will continue to grow in the coming years.

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.