The Online Sports Betting market in Hungary has been experiencing significant growth in recent years.
Customer preferences: Hungarian customers have shown a strong interest in online sports betting due to its convenience and accessibility. With the rise of smartphones and improved internet connectivity, more people in Hungary have access to online sports betting platforms. Additionally, the younger generation in Hungary is particularly attracted to the excitement and entertainment value that online sports betting offers.
Trends in the market: One of the key trends in the Hungarian online sports betting market is the increasing popularity of live betting. Live betting allows customers to place bets on ongoing matches or events, adding an extra level of excitement and engagement. This trend is driven by the desire for immediate gratification and the ability to make informed decisions based on real-time information. Another trend in the market is the growing number of sports and events available for betting. Hungarian customers now have access to a wide range of sports, including football, basketball, tennis, and more. This expansion of options has attracted a larger customer base and increased the overall volume of bets placed.
Local special circumstances: One of the unique characteristics of the Hungarian online sports betting market is the strong presence of local sports. Football, in particular, is a highly popular sport in Hungary, and local leagues and matches attract a significant number of bets. This local interest in sports creates a sense of community and loyalty among Hungarian customers, further driving the growth of the online sports betting market.
Underlying macroeconomic factors: The growing Hungarian economy has played a role in the development of the online sports betting market. As disposable income increases, more people in Hungary have the financial means to participate in online sports betting. Additionally, the overall stability of the Hungarian economy has created a favorable environment for the growth of the online sports betting industry. In conclusion, the Online Sports Betting market in Hungary is experiencing significant growth due to customer preferences for convenience and accessibility, as well as the increasing popularity of live betting. The presence of local sports and the overall stability of the Hungarian economy are also contributing factors to the market's development.
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)
