Online Casinos - Hungary

  • Hungary
  • The Online Casinos market in Hungary is projected to reach a revenue of US$106.20m in 2024.
  • It is expected to grow at an annual rate of 5.59% (CAGR 2024-2028), resulting in a market volume of US$132.00m by 2028.
  • Furthermore, the number of users in the Online Casinos market is expected to reach 200.0k users by 2028.
  • The user penetration is projected to be 2.0% in 2024 and is expected to increase to 2.1% by 2028.
  • The average revenue per user (ARPU) is estimated to be US$0.55k.
  • In a global comparison, in the United States is expected to generate the highest revenue in the Online Casinos market, reaching US$7,645.00m in 2024.
  • On the other hand, in Canada has the highest projected user penetration rate of 35.7% in the Online Casinos market.
  • The online casino market in Hungary is experiencing a surge in popularity, driven by a growing number of players seeking entertainment and potential winnings from the comfort of their own homes.

Key regions: Japan, South Korea, United States, India, Europe

 
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Analyst Opinion

The Online Casinos market in Hungary has been experiencing significant growth in recent years, driven by changing customer preferences and favorable local circumstances.

Customer preferences:
Hungarian customers are increasingly turning to online casinos for their gambling needs due to several reasons. Firstly, online casinos offer convenience and accessibility, allowing customers to play their favorite games from the comfort of their own homes. This is especially appealing to those who live in rural areas or have limited access to land-based casinos. Secondly, online casinos provide a wide variety of games, including popular options such as slots, poker, and blackjack. This allows customers to find their preferred games and enjoy a personalized gambling experience. Lastly, online casinos often offer attractive bonuses and promotions, which can incentivize customers to join and continue playing.

Trends in the market:
One of the key trends in the Hungarian online casino market is the increasing adoption of mobile gambling. With the widespread use of smartphones and tablets, customers are now able to access online casinos on the go. This has led to a surge in mobile gambling apps and optimized websites, providing a seamless and immersive experience for players. Additionally, the popularity of live dealer games has been on the rise. These games allow customers to interact with real dealers and other players, creating a more authentic and social gambling experience.

Local special circumstances:
The Hungarian online casino market is also influenced by local regulations and circumstances. The government has implemented a licensing system for online casinos, ensuring that only reputable and trustworthy operators are allowed to operate in the country. This has helped to build customer trust and confidence in the online gambling industry. Furthermore, Hungary has a strong gambling culture, with a long history of land-based casinos and a passion for games of chance. This cultural background has contributed to the growth of the online casino market, as customers are already familiar with and interested in gambling activities.

Underlying macroeconomic factors:
The development of the online casino market in Hungary is also supported by underlying macroeconomic factors. The country has seen steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has provided individuals with more financial resources to allocate towards leisure activities, including online gambling. Additionally, Hungary has a relatively high internet penetration rate, with a large portion of the population having access to the internet. This widespread connectivity has facilitated the growth of online casinos, as customers are able to easily access and engage with these platforms. Overall, the Online Casinos market in Hungary is thriving due to changing customer preferences, favorable local circumstances, and underlying macroeconomic factors. As online casinos continue to evolve and innovate, the market is expected to further expand in the coming years.

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.

Overview

  • Revenue
  • Analyst Opinion
  • Users
  • Global Comparison
  • Methodology
  • Key Market Indicators
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