Key regions: Brazil, Germany, Japan, Europe, South Korea
The Online Sports Betting market in Thailand has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Online Sports Betting market in Thailand have shifted towards convenience, accessibility, and a wide range of options. With the increasing popularity of smartphones and the internet, more and more Thai consumers are turning to online platforms for their sports betting activities. The ease of placing bets from the comfort of their own homes or on-the-go has attracted a large number of customers to online sports betting platforms. Additionally, the availability of a wide variety of sports and betting options has further enhanced the appeal of online sports betting for Thai consumers. Trends in the market indicate a growing interest in live betting and virtual sports. Live betting allows customers to place bets on ongoing sports events, adding an element of excitement and engagement to the betting experience. This trend has gained traction in Thailand as it provides customers with real-time opportunities to capitalize on their sports knowledge and predictions. Virtual sports, on the other hand, offer a simulated sports betting experience that is available around the clock. This trend has gained popularity in Thailand due to its convenience and the ability to bet on sports events even when there are no live events taking place. Local special circumstances in Thailand have also contributed to the development of the Online Sports Betting market. Traditional forms of gambling, such as casinos and horse racing, are prohibited in Thailand. As a result, many Thai consumers have turned to online sports betting as a legal and accessible alternative. The absence of legal alternatives for other forms of gambling has created a niche for online sports betting platforms to thrive in Thailand. Underlying macroeconomic factors have also played a role in the growth of the Online Sports Betting market in Thailand. The country's strong economic growth has led to an increase in disposable income, allowing more consumers to participate in online sports betting. Additionally, the growing middle class in Thailand has shown a greater interest in sports and entertainment, further driving the demand for online sports betting. In conclusion, the Online Sports Betting market in Thailand is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The convenience, accessibility, and wide range of options offered by online sports betting platforms have attracted a large number of Thai consumers. The growing interest in live betting and virtual sports, as well as the absence of legal alternatives for other forms of gambling, have further fueled the market's development. The strong economic growth and increasing disposable income in Thailand have also contributed to the growth of the Online Sports Betting market.
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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