The Online Sports Betting market in South America is experiencing significant growth and development.
Customer preferences: Customers in South America are increasingly turning to online sports betting as a convenient and accessible way to engage in their favorite sports. The convenience of placing bets from the comfort of their own homes, as well as the ability to access a wide range of sports events from around the world, is driving the popularity of online sports betting in the region. Additionally, the availability of mobile betting platforms has made it even easier for customers to place bets on the go.
Trends in the market: One of the key trends in the online sports betting market in South America is the increasing number of online betting platforms that are entering the market. As the demand for online sports betting grows, more companies are recognizing the potential for growth in the region and are launching their platforms to cater to the needs of South American customers. This increased competition is not only driving innovation in the market, but also leading to improved services and better odds for customers. Another trend in the market is the growing popularity of live betting. South American customers are increasingly seeking the thrill and excitement of placing bets in real-time as they watch sports events unfold. Online sports betting platforms are capitalizing on this trend by offering a wide range of live betting options, allowing customers to place bets on various aspects of the game as it progresses.
Local special circumstances: One of the factors contributing to the growth of the online sports betting market in South America is the increasing legalization and regulation of the industry in various countries in the region. As governments recognize the potential economic benefits of online sports betting, they are implementing legislation to regulate the industry and ensure consumer protection. This has created a more favorable environment for online sports betting companies to operate and has increased customer confidence in the market.
Underlying macroeconomic factors: The growing middle class in South America is also playing a role in the development of the online sports betting market. As more people in the region have disposable income, they are looking for ways to entertain themselves and engage in their favorite sports. Online sports betting provides an affordable and accessible option for entertainment, making it an attractive choice for many South American consumers. In conclusion, the online sports betting market in South America is experiencing significant growth and development due to customer preferences for convenience and accessibility, as well as the increasing number of online betting platforms entering the market. The popularity of live betting and the legalization and regulation of the industry in various countries in the region are also contributing to the growth of the market. Additionally, the growing middle class in South America is driving the demand for online sports betting as a form of entertainment.
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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