Bulgaria

Target audience overview

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

Religion: 84% profess Christianity, 12% - Islam.

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

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

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

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

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

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

Mentality: since the end of the XIV century Bulgaria became part of the Ottoman Empire and became a state for the Turkish Sultan's army. It was only in 1908 that an independent Bulgarian kingdom was formed with Sofia as its capital.

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

Residents are also prone 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, here they often pay attention to the person who is the first to 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 guards against misfortune, and wearing a red thread on the wrist or clothing 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 Availability: in 2024, Bulgaria has 5.58 million internet users and a penetration rate of 84%.

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

Device usage volume:

• 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 predominantly involves residents between the ages of 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 frequently 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;
• 54.8% - 25-34 years;
• 3.6% - 35-44 years;
• 0.7% - 45-54 years;
• 1.6% - 55 years 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 most age-diverse. For example, in Russia and Belarus, the basis of the CA is people aged 21-24.

Gender involvement:

• 65.1 per cent are men;
• 34.9 per cent are women.

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

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

Which operators are chosen in Bulgaria?

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

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

Winbet is the first largest in the market. It offers both online platforms and land-based gambling establishments.

Palmsbet is controlled by Milo Borisov and is 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 put these expectations in doubt, moreover, the overall survival of the industry in the coming years is in question.

1. At the end of 2023, Bulgaria:

• increased licence fees for operators almost 4 times to $169 thousand
• increased taxes for gaming operators from 15% to 20%
• increased the minimum capital of the company wishing to obtain licences for gaming machines was raised 1.5 times to $415 thousand
• introduced a mandatory social levy of $55 thousand.

These measures should generate additional tens of millions of dollars in revenue. The industry met the innovations undesirably, stating that such sharp increases could knock out a number of unstable operators, but the changes, despite all the controversy, came into force.

2. In April 2024 Bulgaria banned slot machines and casinos in all settlements with a population of less than 10,000 people, of which there are dozens in the country.

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

Several public organisations have already spoken out against the new rules:

1. The Bulgarian Media Association ABRO said that along with the ban on gambling advertising, the government would 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. Concerns have already been expressed as to 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 in 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