Key regions: Brazil, Germany, Japan, Europe, South Korea
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. 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.
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Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
