The Online Sports Betting market in Georgia has experienced significant growth in recent years, driven by changing customer preferences and favorable local circumstances.
Customer preferences: In Georgia, there is a growing interest in sports, particularly football and basketball. This has led to an increased demand for online sports betting, as fans look for ways to engage with their favorite teams and players. Additionally, the convenience and accessibility of online platforms have made it easier for customers to place bets from the comfort of their own homes or on the go.
Trends in the market: One of the key trends in the online sports betting market in Georgia is the rise of mobile betting. With the widespread adoption of smartphones and the availability of high-speed internet, more and more customers are using mobile devices to place their bets. This trend is expected to continue as mobile technology continues to advance and become more affordable. Another trend in the market is the increasing popularity of live betting. This allows customers to place bets on sporting events in real-time, adding an extra level of excitement and engagement. The availability of live streaming services has also contributed to the growth of live betting, as customers can watch the events unfold and make informed decisions.
Local special circumstances: One of the factors contributing to the growth of the online sports betting market in Georgia is the relatively lenient regulatory environment. While there are regulations in place to ensure fair and responsible gambling, the industry is not heavily restricted. This has allowed for the emergence of a competitive market with a wide range of operators offering different betting options. Furthermore, the increasing penetration of internet and smartphone usage in Georgia has created a favorable environment for online sports betting. With a large portion of the population having access to the internet, there is a significant potential customer base for online betting operators.
Underlying macroeconomic factors: The overall economic growth in Georgia has also played a role in the development of the online sports betting market. As the economy has expanded, disposable income levels have increased, allowing more individuals to participate in online betting activities. Additionally, the stability of the country's financial system and the ease of conducting online transactions have further facilitated the growth of the market. In conclusion, the online sports betting market in Georgia is experiencing growth due to changing customer preferences, including a growing interest in sports and the convenience of online platforms. The rise of mobile betting and live betting are also significant trends in the market. The relatively lenient regulatory environment, increasing internet and smartphone penetration, and overall economic growth are local special circumstances that have contributed to the development of the 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.Modeling approach:
Market size is determined through a Top-Down approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
