Online Gambling - Guyana

Guyana

Revenue in the Online Gambling market is projected to reach €21.62m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.02%, resulting in a projected market volume of €27.32m by 2028.
The Online Lottery market has a projected market volume of €16.40m in 2024.
In global comparison, most revenue will be generated in the United States (€21,360.00m in 2024).
The average revenue per user (ARPU) in the Online Gambling market is projected to amount to €2.60k in 2024.
In the Online Gambling market, the number of users is expected to amount to 9.8k users by 2028.
User penetration in the Online Gambling market will be at 1.0% in 2024.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Online Gambling market in Guyana is experiencing significant growth and development.

Customer preferences: Customers in Guyana are increasingly turning to online gambling as a form of entertainment and a way to potentially win money. The convenience and accessibility of online gambling platforms allow customers to participate in various forms of gambling, such as casino games, sports betting, and lottery, from the comfort of their own homes. Additionally, the younger generation in Guyana is more tech-savvy and comfortable with online transactions, further driving the demand for online gambling services.

Trends in the market: One of the key trends in the online gambling market in Guyana is the increasing popularity of mobile gambling. With the widespread adoption of smartphones and the availability of high-speed internet, more customers are accessing online gambling platforms through their mobile devices. This trend is fueled by the convenience and flexibility that mobile gambling offers, allowing customers to place bets or play games anytime and anywhere. Another trend in the market is the growing interest in live dealer games. Live dealer games provide customers with a more immersive and interactive gambling experience, as they can interact with real dealers and other players in real-time. This trend is driven by the desire for a more authentic casino experience, particularly among customers who prefer the social aspect of gambling.

Local special circumstances: Guyana has a relatively small population compared to other countries, which presents both opportunities and challenges for the online gambling market. On one hand, the market size is limited, which means that operators need to focus on attracting and retaining customers to ensure profitability. On the other hand, the smaller market size allows for a more targeted approach, enabling operators to tailor their offerings to the specific preferences and needs of Guyanese customers.

Underlying macroeconomic factors: The development of the online gambling market in Guyana is influenced by several macroeconomic factors. Firstly, the country's improving internet infrastructure and connectivity have played a crucial role in facilitating the growth of online gambling. As more households gain access to reliable internet connections, the potential customer base for online gambling expands. Additionally, the overall economic development and disposable income of the population also impact the online gambling market. As the economy improves and individuals have more disposable income, they are more likely to engage in leisure activities such as online gambling. In conclusion, the Online Gambling market in Guyana is experiencing growth and development due to changing customer preferences, including the increasing popularity of mobile gambling and live dealer games. The local special circumstances, such as the smaller market size, present both opportunities and challenges for operators in Guyana. The underlying macroeconomic factors, such as improving internet infrastructure and the overall economic development of the country, also contribute to the growth of the online gambling market.

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.