Online Sports Betting - Denmark | Statista Market Forecast

Revenue in the Online Sports Betting market is projected to reach US$355.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.33%, resulting in a projected market volume of US$437.90m by 2028.
In the Online Sports Betting market, the number of users is expected to amount to 591.3k users by 2028.
User penetration will be 8.1% in 2024 and is expected to hit 9.9% by 2028.
The average revenue per user (ARPU) is expected to amount to US$748.60.
In global comparison, most revenue will be generated Australia (US$9.76bn in 2024).
With a projected rate of 48.9%, the user penetration in the Online Sports Betting market is highest Canada.

Definition:

The online sports betting market refers to the segment of the online gambling industry that involves placing bets on various sports events over the internet. This includes a wide range of sports, such as football, basketball, baseball, horse racing, tennis, and many others. Online sports betting allows customers to place bets on the outcome of sporting events in real-time, either before or during the event. These bets can be placed through various online platforms, including websites and mobile apps, which are often operated by licensed online sportsbook operators.

Additional Information

Data includes revenue figures in Gross Gambling Revenue (GGR), which is the total amount of bets placed by customers minus the amount paid out in winnings, Users, average revenue per user (ARPU), user penetration rate, and a breakdown of revenue shares of the total betting market. User and revenue figures represent B2C services.

Online sports betting on various sports such as football, basketball, tennis, cricket, golf, etc.
Esports betting on sports simulation games such as FIFA, NBA 2K, and Madden NFL
Proposition betting on specific events or outcomes in a sports game

Offline or land-based sports betting establishments such as sportsbooks and race tracks
Betting on non-sporting events such as politics, entertainment, and reality TV shows
Illegal or unlicensed online sports betting websites or apps.

The Online Sports Betting market in Denmark has been experiencing significant growth in recent years.

Customer preferences: Danish customers have shown a strong preference for online sports betting, with a growing number of people choosing to place their bets online rather than in physical betting shops. This shift in customer behavior can be attributed to several factors. Firstly, the convenience of online betting allows customers to place bets from the comfort of their own homes or on the go using mobile devices. Secondly, the wide range of sports and betting options available online provides customers with a greater choice and flexibility compared to traditional betting shops. Finally, the emergence of online betting platforms that offer competitive odds and attractive promotions has also contributed to the growing popularity of online sports betting in Denmark.

Trends in the market: One of the key trends in the Danish online sports betting market is the increasing use of mobile devices for betting. With the widespread adoption of smartphones and tablets, more and more customers are opting to place their bets using mobile apps or mobile-optimized websites. This trend is driven by the convenience and accessibility of mobile betting, allowing customers to bet anytime and anywhere. Another trend in the market is the growing popularity of in-play betting, where customers can place bets on live sporting events as they unfold. This real-time betting experience adds excitement and engagement for customers, and online betting platforms are increasingly offering a wide range of in-play betting options to cater to this demand.

Local special circumstances: Denmark has a well-regulated online gambling market, with the Danish Gambling Authority (Spillemyndigheden) overseeing the licensing and regulation of online betting operators. This regulatory framework ensures that customers are protected and that operators adhere to strict standards of fairness and responsible gambling. The Danish government has also implemented measures to combat problem gambling, such as mandatory player registration and limits on betting amounts. These measures have helped to create a safe and transparent online betting environment in Denmark, which has further contributed to the growth of the market.

Underlying macroeconomic factors: The growth of the online sports betting market in Denmark can be attributed to several macroeconomic factors. Firstly, the overall growth of the Danish economy has increased disposable income levels, allowing more people to participate in online betting activities. Additionally, the increasing penetration of internet and mobile technologies has made online betting more accessible to a larger portion of the population. Furthermore, the popularity of sports in Denmark, particularly football, has also driven the demand for online sports betting. The combination of these factors has created a favorable environment for the growth of the online sports betting market in Denmark.

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.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.

Sports betting is a type of gambling that refers to the activity of placing a wager on the outcome of a sporting event. Events on which wagers are made could be anything from more traditional activities like horse or dog racing to sports such as soccer and American football. Bets are typically made through bookmakers, also known as sportsbooks. These operate both as land-based establishments, for example, at casinos or betting shops, and online. The total amount of money wagered by bettors is known as a handle, while the amount of money earned by a sportsbook after paying out the winners is revenue. In 2022, the sports betting and lottery market size worldwide amounted to 235.46 billion U.S. dollars.