Online Gambling - Georgia

Georgia

Revenue in the Online Gambling market is projected to reach US$34.99m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.29%, resulting in a projected market volume of US$43.01m by 2028.
The Online Sports Betting market has a projected market volume of US$13.72m in 2024.
In global comparison, most revenue will be generated in the United States (US$23,030.00m in 2024).
The average revenue per user (ARPU) in the Online Gambling market is projected to amount to US$0.69k in 2024.
In the Online Gambling market, the number of users is expected to amount to 58.8k users by 2028.
User penetration in the Online Gambling market will be at 1.3% in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Online Gambling market in Georgia has been experiencing significant growth in recent years.

Customer preferences: Customers in Georgia are increasingly turning to online gambling platforms for their entertainment needs. The convenience and accessibility of online gambling sites have made them a popular choice among players. Additionally, the wide variety of games available on these platforms, including popular casino games and sports betting options, cater to a diverse range of customer preferences.

Trends in the market: One of the key trends in the online gambling market in Georgia is the increasing use of mobile devices for gambling activities. With the widespread adoption of smartphones and the availability of high-speed internet connections, more and more customers are opting to use their mobile devices to access online gambling sites. This trend has led to the development of mobile-friendly gambling platforms and the introduction of mobile-specific promotions and bonuses to attract and retain customers. Another trend in the market is the growing popularity of live dealer games. These games provide a more immersive and interactive gambling experience by allowing players to interact with real-life dealers through a live video stream. The introduction of live dealer games has been well-received by customers in Georgia, as it combines the convenience of online gambling with the social aspect of traditional brick-and-mortar casinos.

Local special circumstances: Georgia has a relatively liberal approach to online gambling compared to some other countries in the region. While there are regulations in place to ensure the integrity and fairness of online gambling activities, the government has taken a more permissive stance towards the industry. This has created a favorable environment for online gambling operators to establish and grow their businesses in the country.

Underlying macroeconomic factors: The growth of the online gambling market in Georgia can be attributed to several underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and a higher standard of living for many Georgians. This has resulted in more people having discretionary income to spend on leisure activities, including online gambling. Furthermore, the government's efforts to attract foreign investment and promote tourism have also contributed to the growth of the online gambling market. Georgia has positioned itself as a tourist destination, with a rich cultural heritage and a growing reputation for its hospitality industry. This has attracted a significant number of tourists to the country, many of whom are likely to engage in online gambling activities during their visit. In conclusion, the online gambling market in Georgia is experiencing significant growth due to customer preferences for convenient and accessible gambling options, the adoption of mobile devices for gambling activities, the popularity of live dealer games, the favorable regulatory environment, and underlying macroeconomic factors such as economic growth and tourism promotion.

Methodology

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.

Forecasts:

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.