The Online Sports Betting market in Portugal has been experiencing significant growth in recent years, driven by changing customer preferences and favorable market conditions.
Customer preferences: Portuguese customers have shown a growing interest in online sports betting, with the convenience and accessibility of digital platforms being key factors driving this trend. Online sports betting allows customers to place bets on their favorite sports events from the comfort of their own homes or on the go, without the need to visit physical betting shops. This convenience has attracted a younger demographic who are more tech-savvy and prefer the flexibility offered by online platforms. Additionally, the availability of a wide range of sports events and betting options has also contributed to the popularity of online sports betting in Portugal.
Trends in the market: One of the key trends in the Portuguese online sports betting market is the increasing adoption of mobile betting. With the proliferation of smartphones and improved internet connectivity, customers can now place bets using their mobile devices anytime and anywhere. This has led to a shift from traditional desktop betting to mobile platforms, with mobile apps becoming the preferred choice for many customers. Another trend in the market is the growing popularity of in-play betting. In-play betting allows customers to place bets on live sports events as they unfold, adding an extra level of excitement and engagement. The real-time nature of in-play betting appeals to customers who enjoy the thrill of following the action and making quick decisions based on the game's progress.
Local special circumstances: The Portuguese online sports betting market has been positively influenced by the regulatory framework put in place by the government. The introduction of a licensing system for online gambling operators has created a more transparent and secure environment for customers. This has helped to build trust in the market and attract both domestic and international operators.
Underlying macroeconomic factors: The growth of the Portuguese online sports betting market can also be attributed to favorable macroeconomic factors. Portugal has experienced stable economic growth in recent years, which has resulted in increased disposable income for many individuals. This has allowed customers to allocate a portion of their income towards leisure activities such as online sports betting. Furthermore, the increasing popularity of sports events and the rise of Portuguese athletes in international competitions have also contributed to the growth of the online sports betting market. As more people become interested in sports, the demand for betting on these events naturally increases. In conclusion, the Online Sports Betting market in Portugal has been growing rapidly due to changing customer preferences, including the convenience of online platforms and the availability of a wide range of sports events. The adoption of mobile betting and the popularity of in-play betting are also driving this growth. The favorable regulatory framework and stable macroeconomic conditions in Portugal have further supported the expansion 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.
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