adminIn recent years, iGaming investors have been actively looking at Africa. The first reason for this attention is that opening a gambling business on the continent will be cheaper than in other jurisdictions. At the same time, Africa has an intense mobile broadband penetration, and local governments are willing to regulate gambling. This combination of factors makes Africa unique.
The African continent is home to 1.3 billion people and is the second-largest territory in the world by area. Forecasts suggest that the online gambling market in Africa will reach $1.85 billion by the end of 2024. At the same time, the projected growth rate through 2028 is 6.28%, which means that by the end of this period, the market will already be worth $2.47 billion. This indicates a steady growth in the gambling sector.
The African market presents a mix of challenges and opportunities, and its exciting story is just beginning. But many countries in the region can already put themselves on the of the most significant gambling popularity.
The largest gambling market on the African continent is the People’s Republic of South Africa. Studies show that people at least once in their lives played gambling; about three-quarters of the population and more than half take gambling as an enjoyable pastime. By 2029, the number of people who gamble in South Africa is predicted to reach 4.2 million. At the same time, online gambling is illegal throughout the country, except for online branches of licensed land-based bookmakers.
Cricket is popular in South Africa, and the national team has succeeded. Many people in the country watch the games and bet on their outcomes. To understand the extent of the popularity of such bets, we have studied bookmaker review sites. The first place in the Google Search Results is owned by Cricketbettingapps, and here we saw for Android and iOS phones. And in almost all these apps, cricket betting appears among the most popular gambling games.
Nigeria has the highest GDP in Africa and has the largest population on the continent. However, in the gaming sector, it ranks second. In 2004, Nigeria lifted the ban on gambling, which stimulated the growth of the gambling business. Every day, sports betting is made by about 30% of the population of Nigeria, that is, about 60 million people. These are mostly men between 18 and 40 years old. The online betting sector is also growing thanks to local payment systems, which are actively developing.
Kenya has a population of 55 million people, and gambling is a legal form of entertainment, making it even more popular. Most forms of gambling are legal in Kenya, but the rate of development of online casinos is not very high due to the low speed and lack of mobile internet penetration. At the same time, it is also an opportunity for new market players. The basis of the gambling market in Kenya is betting, which is typical for African countries.
The gambling industry in Tanzania is growing strongly, including online casinos. The mobile Internet sector in the country is growing, which stimulates the growth of online gambling.
Online Reporter