Online Gambling - Norway

Norway

Highlights

Revenue in the Online Gambling market is projected to reach US$638.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.52%, resulting in a projected market volume of US$762.30m by 2028.
The Online Casinos market has a projected market volume of US$320.40m in 2024.
In global comparison, most revenue will be generated United States (US$23.03bn in 2024).
The average revenue per user (ARPU) in the Online Gambling market is projected to amount to US$1.04k in 2024.
In the Online Gambling market, the number of users is expected to amount to 713.4k users by 2028.
User penetration in the Online Gambling market will be at 10.9% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online Gambling market in Norway has seen significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Norwegian customers have shown a strong preference for online gambling due to its convenience and accessibility. The increasing penetration of smartphones and high-speed internet has made it easier for customers to access online gambling platforms anytime and anywhere. Additionally, the younger generation in Norway, who are more tech-savvy, are more inclined towards online gambling compared to traditional land-based casinos. The availability of a wide range of games and the ability to play with real money or virtual currency also appeals to customers.

Trends in the market: One of the key trends in the Norwegian online gambling market is the rise of mobile gambling. With the increasing use of smartphones, more and more customers are opting to gamble on their mobile devices. This trend is expected to continue as mobile technology continues to advance. Another trend is the growing popularity of live dealer games, where players can interact with real dealers through live video streaming. This adds a sense of realism and social interaction to the online gambling experience.

Local special circumstances: Norway has a unique regulatory framework for online gambling. The country has a state monopoly on gambling, with only two licensed operators allowed to offer online gambling services. This has created a limited market with less competition compared to other countries. The strict regulations and licensing requirements also ensure a high level of consumer protection and responsible gambling practices. However, the limited number of operators and the lack of competition may restrict innovation and limit the choices available to customers.

Underlying macroeconomic factors: The strong economy in Norway has contributed to the growth of the online gambling market. With high disposable incomes and a high standard of living, Norwegians have more disposable income to spend on leisure activities, including online gambling. The country's stable political and economic environment also instills confidence in customers, making them more willing to spend money on online gambling. Additionally, the high internet penetration rate and reliable infrastructure support the growth of the online gambling market. In conclusion, the Online Gambling market in Norway is experiencing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The convenience and accessibility of online gambling, along with the rise of mobile gambling and live dealer games, have attracted Norwegian customers. The unique regulatory framework and limited competition in the market, as well as the strong economy and high disposable incomes in Norway, contribute to the growth of the online gambling market in the country.

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.