Market Insights Digital eServices Online Gambling

Online Sports Betting - Hungary

Hungary

Revenue in the Online Sports Betting market is projected to reach US$123.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.00%, resulting in a projected market volume of US$156.30m by 2028.
In the Online Sports Betting market, the number of users is expected to amount to 343.8k users by 2028.
User penetration will be 3.0% in 2024 and is expected to hit 3.6% by 2028.
The average revenue per user (ARPU) is expected to amount to US$0.43k.
In global comparison, most revenue will be generated in Australia (US$9,757.00m in 2024).
With a projected rate of 48.9%, the user penetration in the Online Sports Betting market is highest in Canada.

Key regions: Brazil, Germany, Japan, Europe, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

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.

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.