Industry Statistics and Rankings
How does this industry perform in Latvia compared to Europe?
Country Benchmarking
Industry Data Latvia
Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.
Revenue
#11 In EuropeBusiness
#6 In EuropeEmployees
#11 In EuropeWages
#12 In EuropeEurope's gambling and betting industry is continually evolving, bolstered by advancements in technology and changing consumer habits. While it's a hugely popular form of entertainment, the industry faces challenges, including strict regulations and ethical concerns over gambling addictions. Gaming enthusiasts across Europe are increasingly gravitating towards online gambling, boosting industry demand. However, adverse economic conditions, like the COVID-19 outbreak and high inflation, have weighed on consumer spending on gambling and betting activities. Revenue is expected to contract at a compound annual rate of 5% to €136.5 billion over the five years through 2024, including a 4.2% drop in 2024.
Enterprises
Number of businesses in 2024
Biggest companies in the Gambling Activities in Latvia
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|
There are no companies that hold a large enough market share in the Gambling Activities in Latvia industry for IBISWorld to include in this product.
Top Questions Answered in this Report
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What is the market size of the Gambling Activities industry in Latvia in 2024?
The market size of the Gambling Activities industry in Latvia is €26.5m in 2024.
How many businesses are there in the Gambling Activities in Latvia industry in 2024?
There are 2 businesses in the Gambling Activities industry in Latvia, which has declined at a CAGR of 0.0 % between 2019 and 2024.
Has the Gambling Activities industry in Latvia grown or declined over the past 5 years?
The market size of the Gambling Activities industry in Latvia has been declining at a CAGR of 24.1 % between 2019 and 2024.
What is the forecast growth of the Gambling Activities industry in Latvia over the next 5 years?
Over the next five years, the Gambling Activities industry in Latvia is expected to grow.
What does the Gambling Activities in Latvia include?
Gambling halls and coin-operated machines and Lotteries are part of the Gambling Activities industry.
How competitive is the Gambling Activities industry in Latvia?
The level of competition is moderate and steady in the Gambling Activities industry in Latvia.
Related Industries
This industry is covered in 37 countries
Domestic industries
Competitors
- Pubs, Bars & Coffee shops in Latvia
Complementors
- Sport, Amusement & Recreation Activities in Latvia
Table of Contents
About this industry
Industry definition
This industry includes companies that operate casinos, bingo halls, betting shops, video gaming terminals, gambling websites and lotteries. Industry revenue is measured as net revenue, or the difference between the amount wagered by customers and the amount paid out to them for wins and cancellations on bets.
Related Terms
BookieVirtual RealityHigh RollerWhat's included in this industry?
Gambling halls and coin-operated machinesLotteriesVirtual gambling websitesCasinosBookmaking and betting operationsCompanies
Industry Code
92 - Gambling and betting activities in Latvia
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Performance
Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue
- Employees
- Business
- Profit
Analysis
What's driving current industry performance in the Gambling Activities in Latvia industry?
Outlook
Analysis
What's driving the Gambling Activities in Latvia industry outlook?
Volatility
Analysis
What influences volatility in the Gambling Activities in Latvia industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Gambling Activities in Latvia industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
VR is shifting Europe's betting scene to a new level. By offering a virtual casino-like environment, bookmakers are increasing user engagement, leading to higher profit and greater customer loyalty.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Gambling Activities in Latvia industry's products and services performing?
Analysis
What are innovations in the Gambling Activities in Latvia industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Gambling Activities in Latvia industry?
International Trade
Highlights
- Total Imports into Latvia
- Total Exports into Latvia
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
Market share in Europe’s gambling industry is driven by digital innovation. Operators gaining competitive advantage have deployed effective digital strategies, leveraging technology to enhance user experience and engagement.
Supply Chain
Charts
Buyer and supply industries
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Establishments by Region (2024)
Data Tables
- Number of Establishments by Region (2024)
Charts
- Share of Establishments vs. Population of Each Region
Analysis
What regions are businesses in the Gambling Activities in Latvia located?
Companies
Data Tables
Top 0 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit margin (2024)
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
Europe’s betting industry is strictly regulated with diverse policies. Government rules in Europe distinctly oversee the gambling and betting industry, with regulations varying widely across different countries, ensuring fair play, preventing addiction, and guarding against financial fraud or money laundering.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Gambling Activities in Latvia industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Online gambling's growth boosts profitability despite economic challenges. Tech advancements and digitisation are key drivers, with lower overheads and market expansion allowing companies to expand their profit margin.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Gambling Activities in Latvia industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.
To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.
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