Online Gambling - Estonia

Estonia

Revenue in the Online Gambling market is projected to reach €191.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.42%, resulting in a projected market volume of €227.10m by 2028.
The Online Lottery market has a projected market volume of €81.45m in 2024.
In global comparison, most revenue will be generated in the United States (€21,140.00m in 2024).
The average revenue per user (ARPU) in the Online Gambling market is projected to amount to €1.58k in 2024.
In the Online Gambling market, the number of users is expected to amount to 145.2k users by 2028.
User penetration in the Online Gambling market will be at 9.2% in 2024.

Key regions: United States, Asia, Japan, Germany, South Korea

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Online Gambling market in Estonia has been experiencing significant growth in recent years, driven by changing customer preferences and favorable local circumstances.

Customer preferences: In Estonia, there is a growing demand for online gambling services due to several factors. Firstly, the convenience of accessing online gambling platforms from anywhere at any time appeals to customers who value flexibility and ease of use. Additionally, the wide variety of games and betting options available online cater to different customer preferences, ensuring that there is something for everyone. Furthermore, the increasing popularity of mobile devices has made online gambling even more accessible, as customers can now play their favorite games on the go.

Trends in the market: One of the key trends in the Estonian online gambling market is the shift towards mobile gambling. With the widespread adoption of smartphones and tablets, more and more customers are choosing to play casino games and place bets through mobile apps or mobile-optimized websites. This trend is expected to continue as technology advances and mobile devices become even more powerful and user-friendly. Another trend in the market is the growing popularity of live dealer games. These games provide a more immersive and interactive experience for players, as they can interact with real dealers and other players in real-time. The live streaming technology used in these games has improved significantly in recent years, enhancing the overall gaming experience.

Local special circumstances: Estonia has a well-regulated online gambling market, which provides a secure and trustworthy environment for both operators and customers. The country's regulatory framework ensures that operators meet strict licensing requirements and adhere to responsible gambling practices. This has helped to build trust among customers and has contributed to the growth of the online gambling market in Estonia. Furthermore, Estonia has a high internet penetration rate, with a large percentage of the population having access to the internet. This has created a large potential customer base for online gambling operators, as more people are able to participate in online gambling activities.

Underlying macroeconomic factors: The positive development of the online gambling market in Estonia can also be attributed to favorable macroeconomic factors. The country has a strong economy and a high standard of living, which means that consumers have more disposable income to spend on leisure activities such as online gambling. Additionally, Estonia has a well-developed digital infrastructure, which enables smooth and seamless online transactions, further facilitating the growth of the online gambling market. In conclusion, the Online Gambling market in Estonia is developing rapidly due to changing customer preferences, such as the demand for mobile gambling and live dealer games. The favorable local circumstances, including a well-regulated market and high internet penetration rate, have also contributed to the growth. Furthermore, underlying macroeconomic factors, such as a strong economy and a well-developed digital infrastructure, have created a conducive environment for the online gambling industry to thrive.

Methodology

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.