Bulgaria

Overview of the target audience

Language: The official language is Bulgarian, spoken by almost 85% of the population. In addition, Turkish (9.6%) and Romani (4.2%) are also used in the country.

78% Bulgarian citizens know at least one foreign language, most often English, of which 43% know it at the basic level (A1-A2). Also 14% can communicate fluently in Russian.

Religion: 84% are practicing Christianity, 12% are practicing Islam.

Major cities: Sofia (capital), Burgas, Plovdiv, Stara Zagora, Ruse.

Currency: Bulgarian lion (BGN). 100 BGN = $53.

Financial Capabilities: The poverty rate among the population is 22%, of which 11.7% are employed.

The unemployment rate in the country ranges between 6-7%. The youth unemployment rate is 16%.

The average salary is from $810 and the minimum wage is from $490.

By regions of the country in Q3 2024, the highest average salary was in Sofia - $1500. Districts with the lowest average salary are Smolyan, Blagoevgrad, Vidin, Kyustendil, Silistra.

Mentality: From the end of the 14th century Bulgaria became part of the Ottoman Empire and served as a state for the Turkish Sultan's army. It was not until 1908 that an independent Bulgarian kingdom was formed with Sofia as its capital.

Bulgarians are very sociable, patient and pragmatic. The country's inhabitants have a simpler outlook on life and do not set themselves unattainable goals. However, they are often envious of the achievements of others.

Also, residents are inclined to critical thinking and analyzing what is going on around them. This can manifest itself in discussions of political and social issues, where they are not afraid to question authoritative opinions.

The country's population is not spoiled by advertising. Moreover, the most reliable way to attract a Bulgarian is to offer a discount or a promotion.

Bulgarians are superstitious. For example, they often pay attention to the first person they meet after leaving the house. His gender, age and financial status tell superstitious residents what to expect from the coming day.

The most popular amulet is the geranium flower. This plant can be seen on the windows of almost every apartment and in all flowerbeds. Geranium symbolizes good luck and protects from misfortune, and wearing a red thread on the wrist or clothes is considered protection from evil spirits

The Nine has a special meaning in Bulgarian culture, it is associated with completion and abundance.

ARPU (average product revenue per player): $424 per year.

Internet accessibility: In 2024, Bulgaria had 5.58 million internet users and a penetration rate of 84%.

• The average speed of wireless connection via Wi-Fi is 65.17 Mbps.
• The average speed of mobile Internet connection is 22.76 Mbps.

Volume of device utilization:

• mobile - 57%
• desktop - 40%
• tablet - 3%

Popular Web Applications: YouTube, Facebook, TikTok, Instagram, LinkedIn.

Number of active users in 2024:

• YouTube - 4.4 million
• Facebook - 3.2 million
• TikTok - 2.3 million
• Instagram - 1.7 million
• LinkedIn - 1.3 million

Player Preferences: online gambling is predominantly attended by residents aged between 24 and 35. Slots, roulette, blackjack, poker are the most popular games among Bulgarian players. Also, many residents like to play in live casinos.

Bulgarian players favor games with adventure and fantasy plots, as well as themes based on historical events or eras.

Soccer, basketball and tennis are the most commonly chosen sports for betting.

Gambling

The gambling market in Bulgaria has seen steady growth, especially in the online casino and sports betting segments. These are the most popular types of gambling in the country. Also in demand are:

• slots;
• roulette;
• blackjack;
• poker;
• lotteries.

Involvement of different age groups:

• 39.3% - 18-24 years old;
• 54.8% - 25-34 years old;
• 3.6% is 35-44 years old;
• 0.7% - 45-54 years;
• 1.6% - 55 years of age and older.

More than half of the audience is aged 25-34. If we compare this indicator with other countries in Eastern Europe, Bulgaria is one of the oldest. For example, in Russia and Belarus, the core audience is 21-24 years old.

Gender Involvement:

• 65.1% - Men;
• 34.9% - Women.

Men are the core of the target audience. The majority of players prefer to play online - this is about 1 million people from the entire gambling audience.

Samsung Galaxy A71 and Samsung Galaxy A51 are the most popular devices.

Which operators are chosen in Bulgaria?

There are 22 licensed operators in the market, including local and international operators.

Efbet - one of the largest and most recognizable brands. Owned by the Naydenov brothers. Includes both sports betting and online casino.

The first place in terms of market size is Winbet. It offers both online platforms and land-based gambling establishments.

Palmsbet controlled by Milo Borisov and linked to the German company Gauselmann Group. The largest international platform is Bet365.

Bulgaria is a small Balkan country with a population of 6.5 million. According to Statista, the local gambling industry is expected to generate $147.3 million for the country's economy in 2024.

However, several recent initiatives by lawmakers have put these expectations in doubt, and moreover, the overall survival of the industry in the coming years is being questioned.

1. At the end of 2023 Bulgaria:

• increased license fees for operators almost 4 times to $169 thousand
• raised taxes on gaming entities from 15% to 20%.
• increased the minimum capital of a company wishing to obtain slot machine licenses was raised 1.5 times to $415k
• introduced a compulsory social levy of $55K

These measures are expected to generate tens of millions of dollars in additional revenue. The industry was reluctant to accept the changes, claiming that such drastic increases could put a number of unstable operators out of business, but the changes, despite all the controversy, came into effect.

2. In April 2024, Bulgaria banned slot machines and casinos in all settlements with a population of less than 10 thousand people, of which there are dozens in the country.

3. Together with the restriction of the land-based gambling sector, almost all types of gambling advertising were banned. The initiative was hushed up, allegedly due to the risks of spreading gambling addiction among the population - all according to the classics.

Several community organizations have already spoken out against the new rules:

1. The Bulgarian media association ABRO stated that along with the ban on gambling advertising, the government will shut down numerous media companies. Most of the media revenues are generated by the gambling industry, so the advertising restrictions on gambling will hit the media market as well. There are already concerns about whether commercial channels will be able to broadcast the upcoming Euro-2024.
2. The Bulgarian Gambling Association also opposed the innovations: the ban on advertising of licensed products will obviously cause a sharp rise of offshore iGaming sites. This will be followed by the story known to many: illegals will flood the market, players will lose any legal protection, the country will lose a lot of taxes.

Such actions on the part of the authorities always raise questions, but, alas, many lawmakers still see the ban as a «magic» pill for all social problems. In the near future Bulgaria is expected to face the consequences of not the most correct decisions, and the representatives of the sphere will obviously discover another attractive geo