Market Insights Digital eServices Online Gambling

Online Casinos - Estonia

Estonia

Revenue in the Online Casinos market is projected to reach €64.88m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.16%, resulting in a projected market volume of €73.49m by 2028.
In the Online Casinos market, the number of users is expected to amount to 134.3k users by 2028.
User penetration will be 8.8% in 2024 and is expected to hit 10.4% by 2028.
The average revenue per user (ARPU) is expected to amount to €0.56k.
In global comparison, most revenue will be generated in the United States (€7,016.00m in 2024).
With a projected rate of 35.7%, the user penetration in the Online Casinos market is highest in Canada.

Key regions: Japan, South Korea, United States, India, Europe

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

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

Customer preferences: In Estonia, there has been a growing demand for online casino games due to several factors. Firstly, the convenience of playing from home or on-the-go appeals to many customers who prefer the flexibility and comfort of online gambling. Additionally, the wide variety of games available online, including slots, poker, and roulette, cater to different customer preferences and provide a more diverse and engaging experience compared to traditional brick-and-mortar casinos. Furthermore, the increasing popularity of mobile gaming has also contributed to the growth of the online casino market in Estonia, as more people are accessing casino games through their smartphones and tablets.

Trends in the market: One of the key trends in the Estonian online casino market is the emergence of live dealer games. These games provide a more interactive and immersive experience, as players can interact with real dealers through a live video stream. This trend has gained traction in Estonia as it combines the convenience of online gambling with the social aspect of playing in a physical casino. Another trend is the integration of virtual reality (VR) technology into online casino games. VR technology allows players to experience a virtual casino environment, enhancing the overall gaming experience and attracting a new segment of customers who are looking for a more immersive and realistic gambling experience.

Local special circumstances: Estonia has a well-developed digital infrastructure and a high internet penetration rate, which has facilitated the growth of the online casino market. The country also has a favorable regulatory environment for online gambling, with a well-established licensing system that ensures the integrity and fairness of the games. The Estonian government has implemented strict regulations to protect consumers and prevent money laundering, which has helped to build trust and confidence in the online casino industry. Additionally, Estonia is part of the European Union, allowing online casinos licensed in the country to operate across the EU market, providing a larger customer base and more opportunities for growth.

Underlying macroeconomic factors: The growth of the online casino market in Estonia is also influenced by underlying macroeconomic factors. The country has a strong economy with a high GDP per capita, which indicates a higher disposable income for consumers. This disposable income can be spent on entertainment activities, including online gambling. Furthermore, Estonia has a well-educated population, with a high level of digital literacy and familiarity with online technologies. This makes the population more receptive to online casino games and more likely to engage in online gambling activities. In conclusion, the Online Casinos market in Estonia has experienced significant growth due to changing customer preferences, such as the convenience of online gambling and the availability of a wide variety of games. The emergence of live dealer games and the integration of VR technology have also contributed to the growth of the market. Local special circumstances, including a well-developed digital infrastructure and a favorable regulatory environment, have further facilitated the growth of the online casino industry in Estonia. Underlying macroeconomic factors, such as a strong economy and a well-educated population, have also played a role in driving the growth of the 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.