Market Insights Advertising & Media Esports

Esports Betting - Norway

Norway

In Norway, revenue in the Esports Betting market market is projected to reach €17.7m in 2024.
Revenue in this market is expected to show an annual growth rate (CAGR 2024-2029) of 4.67%, which would result in a projected market volume of €22.2m by 2029.
While the majority of revenue is generated the United States, Norway's market is also significant.
The average revenue per user (ARPU) in Norway is expected to amount to €78.3.
In Norway, the Esports betting market is witnessing a surge in popularity, driven by increasing youth engagement and interest in competitive gaming.

Key regions: India, Sweden, United Kingdom, Asia, Germany

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Esports Betting Market in Norway is seeing subdued growth, influenced by factors such as limited regulations and slow adoption of digital technologies in the country. Despite this, the convenience and increasing health awareness among consumers are driving the market forward.

Customer preferences: The growing popularity of Esports has led to an increase in interest and participation in Esports betting. With this, there has been a rise in demand for online platforms and apps that facilitate convenient and secure betting. This trend is driven by the increasing use of digital payment methods and the desire for quick and easy access to betting options. Additionally, the rise in Esports tournaments and events has created a larger pool of potential bets, attracting more individuals to the market.

Trends in the market: In Norway, the Esports Betting Market within the eSports Market is experiencing an increase in the use of mobile betting platforms. This trend is driven by the rise in smartphone penetration and the convenience it offers to players. As a result, more bookmakers are investing in mobile betting apps and websites. In addition, the market is witnessing a growing interest in virtual reality (VR) and augmented reality (AR) technologies for in-game betting experiences. These trends not only cater to the changing preferences of players but also open up new revenue streams for industry stakeholders. With the global esports market expected to reach $1.1 billion by 2020, the potential for growth in the Esports Betting Market is significant.

Local special circumstances: In Norway, the Esports Betting Market is heavily influenced by the country's high internet penetration rate and tech-savvy population. This has led to a strong demand for online betting platforms and a rise in the popularity of live streaming of eSports events. Additionally, Norway's strict gambling regulations have led to a more controlled and regulated Esports Betting Market, providing a safer and more secure environment for bettors. The country's strong economy and high disposable income also contribute to the growth of the market, with a growing number of sponsors and investments in the local eSports scene.

Underlying macroeconomic factors: The Esports Betting Market within the eSports Market in Norway is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. Norway's strong economy and high standard of living make it an attractive market for esports betting, while supportive government policies and investments in technology and infrastructure have further propelled the growth of the market. Additionally, the rise in popularity of esports among the younger population and the increasing availability of high-speed internet and advanced gaming technology have also contributed to the growth of the market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Esports betting market, which comprises revenues from online betting on Esports events. All figures are based on net revenues and exclude agency commissions, rebates, and production costs.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.