Market Insights Advertising & Media Online Gambling

Online Casinos - Southeast Asia

Southeast Asia

Revenue in the Online Casinos market is projected to reach €243.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.69%, resulting in a projected market volume of €320.80m by 2029.
In the Online Casinos market, the number of users is expected to amount to 4.8m users by 2029.
User penetration will be 2.9% in 2024 and is expected to hit 3.7% by 2029.
The average revenue per user (ARPU) is expected to amount to €71.14.
In global comparison, most revenue will be generated in the United Kingdom (€5,998.00m in 2024).
With a projected rate of 35.6%, the user penetration in the Online Casinos market is highest in Canada.

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Analyst Opinion

The Online Casinos market in Southeast Asia is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Southeast Asia have shifted towards online gambling, leading to the growth of the Online Casinos market. Southeast Asian customers are increasingly drawn to the convenience and accessibility of online casinos, which allow them to play their favorite games from the comfort of their own homes. Additionally, the availability of a wide range of games and attractive bonuses and promotions offered by online casinos have further contributed to the growing popularity of this market. Trends in the Online Casinos market in Southeast Asia are also driving its development. One notable trend is the increasing adoption of mobile gambling. With the widespread use of smartphones and the availability of high-speed internet, more and more customers in Southeast Asia are accessing online casinos through their mobile devices. This trend has created new opportunities for online casino operators to reach a larger customer base and provide a seamless gaming experience. Another trend in the market is the emergence of live dealer casinos. Live dealer casinos offer a more immersive and interactive gaming experience, allowing customers to play their favorite casino games in real-time with live dealers. This trend has gained traction in Southeast Asia, where customers value the social aspect of gambling and prefer the authenticity of playing with real dealers. Local special circumstances also contribute to the development of the Online Casinos market in Southeast Asia. In some countries, such as the Philippines and Cambodia, the government has recognized the potential economic benefits of online gambling and has implemented regulations to support its growth. These regulations provide a framework for online casino operators to operate legally and attract foreign investments. Additionally, the rise of tourism in the region has also fueled the demand for online casinos, as tourists seek entertainment options during their visits. Underlying macroeconomic factors play a crucial role in the development of the Online Casinos market in Southeast Asia. The region's growing middle class and increasing disposable income have led to a rise in discretionary spending, including gambling. Furthermore, the rapid urbanization and technological advancements in Southeast Asia have created a favorable environment for the growth of the online gambling industry. In conclusion, the Online Casinos market in Southeast Asia is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The convenience and accessibility of online gambling, coupled with the adoption of mobile gambling and the emergence of live dealer casinos, have contributed to the increasing popularity of this market. Moreover, government regulations and the rise of tourism in the region have provided a supportive environment for the growth of online casinos. The region's growing middle class and increasing discretionary income, along with rapid urbanization and technological advancements, further fuel the development of the Online Casinos market in Southeast Asia.

Methodology

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.

Modeling approach:

Market size is determined through a Top-Down 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., the Statista Consumer Insights Global survey), 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 GDP, number of internet users, and internet consumption.

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 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). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.