Online Gambling - Serbia

  • Serbia
  • Revenue in the Online Gambling market is projected to reach €132.50m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.02%, resulting in a projected market volume of €167.40m by 2028.
  • The Online Sports Betting market has a projected market volume of €48.08m 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 €0.74k in 2024.
  • In the Online Gambling market, the number of users is expected to amount to 211.4k users by 2028.
  • User penetration in the Online Gambling market will be at 2.6% in 2024.

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

Comparación de regiones

Analyst Opinion

The Online Gambling market in Serbia is experiencing significant growth and development in recent years.

Customer preferences:
Serbian customers are increasingly turning to online gambling as their preferred form of entertainment and gambling. This can be attributed to several factors. Firstly, the convenience and accessibility of online gambling platforms allow customers to enjoy their favorite games from the comfort of their own homes. Additionally, the wide variety of games and betting options available online cater to the diverse preferences of Serbian customers.

Trends in the market:
One of the key trends in the Serbian online gambling market is the increasing popularity of sports betting. Sports have always been a significant part of Serbian culture, and the ability to place bets on various sports events online has greatly appealed to customers. The availability of live betting options and competitive odds further enhance the appeal of online sports betting platforms. Another trend in the market is the rise of mobile gambling. With the increasing penetration of smartphones in Serbia, more and more customers are accessing online gambling platforms through their mobile devices. This trend has led to the development of mobile-friendly gambling apps and websites, providing customers with a seamless and convenient gambling experience on the go.

Local special circumstances:
Serbia has a well-regulated online gambling market, with a licensing framework in place to ensure the safety and fairness of online gambling activities. This has instilled confidence among customers and attracted reputable international online gambling operators to enter the Serbian market. The presence of these operators has further contributed to the growth and development of the online gambling industry in Serbia.

Underlying macroeconomic factors:
The growth of the online gambling market in Serbia can also be attributed to several macroeconomic factors. Firstly, the increasing disposable income of Serbian consumers has allowed them to allocate a portion of their income towards leisure activities such as online gambling. Additionally, the growing internet penetration rate in Serbia has provided more individuals with access to online gambling platforms. The combination of these factors has created a favorable environment for the development of the online gambling market in Serbia. In conclusion, the Online Gambling market in Serbia is experiencing significant growth and development, driven by customer preferences for convenience and accessibility, the popularity of sports betting, the rise of mobile gambling, the well-regulated market environment, and favorable macroeconomic factors. As these trends continue to shape the market, it is expected that the online gambling industry in Serbia will continue to thrive 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.


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.

Visión general

  • Revenue
  • Analyst Opinion
  • Users
  • Global Comparison
  • Methodology
  • Key Market Indicators
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