Online Sports Betting - Thailand | Statista Market Forecast

Revenue in the Online Sports Betting market is projected to reach US$253.00m 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$312.30m by 2028.
In the Online Sports Betting market, the number of users is expected to amount to 1.2m users by 2028.
User penetration will be 1.3% in 2024 and is expected to hit 1.7% by 2028.
The average revenue per user (ARPU) is expected to amount to US$267.50.
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 Thailand has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Online Sports Betting market in Thailand have shifted towards convenience, accessibility, and a wide range of options. With the increasing popularity of smartphones and the internet, more and more Thai consumers are turning to online platforms for their sports betting activities. The ease of placing bets from the comfort of their own homes or on-the-go has attracted a large number of customers to online sports betting platforms. Additionally, the availability of a wide variety of sports and betting options has further enhanced the appeal of online sports betting for Thai consumers. Trends in the market indicate a growing interest in live betting and virtual sports. Live betting allows customers to place bets on ongoing sports events, adding an element of excitement and engagement to the betting experience. This trend has gained traction in Thailand as it provides customers with real-time opportunities to capitalize on their sports knowledge and predictions. Virtual sports, on the other hand, offer a simulated sports betting experience that is available around the clock. This trend has gained popularity in Thailand due to its convenience and the ability to bet on sports events even when there are no live events taking place. Local special circumstances in Thailand have also contributed to the development of the Online Sports Betting market. Traditional forms of gambling, such as casinos and horse racing, are prohibited in Thailand. As a result, many Thai consumers have turned to online sports betting as a legal and accessible alternative. The absence of legal alternatives for other forms of gambling has created a niche for online sports betting platforms to thrive in Thailand. Underlying macroeconomic factors have also played a role in the growth of the Online Sports Betting market in Thailand. The country's strong economic growth has led to an increase in disposable income, allowing more consumers to participate in online sports betting. Additionally, the growing middle class in Thailand has shown a greater interest in sports and entertainment, further driving the demand for online sports betting. In conclusion, the Online Sports Betting market in Thailand is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The convenience, accessibility, and wide range of options offered by online sports betting platforms have attracted a large number of Thai consumers. The growing interest in live betting and virtual sports, as well as the absence of legal alternatives for other forms of gambling, have further fueled the market's development. The strong economic growth and increasing disposable income in Thailand have also contributed to the growth of the Online Sports Betting market.

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.