Exclusive: Conor O’Donovan on Crypto and the Future of Gaming in Africa
With Africa’s gaming industry evolving at an unprecedented pace, conversations around technology, payments, and innovation are more relevant than ever. In this exclusive feature, iGaming AFRIKA Magazine sat down with Conor O’Donovan, Africa Partner at Tekkorp Capital and a seasoned leader in the African gaming space, to explore the rise of cryptocurrencies in iGaming, the challenges and opportunities they present, and what the next decade could mean for both players and operators across the continent.
iGaming AFRIKA: Could you briefly introduce yourself and what you do?
Conor O’Donovan: Sure. I’ve been working in gaming across Africa for close to a decade now. I started as an operator, running multi-territory gaming brands, and over time transitioned into the investment side. These days, I back early-stage ventures in gaming, tech and payments with both capital and hands-on support, while also rolling out a few projects of my own. I also lead the African strategy at Tekkorp Capital, one of the top M&A firms in the global gaming space. We’re working on some pretty exciting deals there – but that’s a story for another day.
What’s clear is I’ve never been more bullish on Africa. The growth is crazy, the tech is moving fast, and the market is maturing in ways that are hard to ignore. A few years ago, the industry looked at me sideways when I talked about African gaming and payments; now everyone wants to hear all about it!
iGaming AFRIKA: How has the adoption of cryptocurrencies transformed the gaming industry?
Conor O’Donovan: I’ll be honest, two years ago, I hadn’t considered crypto in the context of African gaming. I saw it more as a tool for repatriation and cross-border payments – useful, but peripheral. That has changed fast, and my eyes are open. It’s now one of the most exciting areas I’m involved in, and like anything in this space, once you see the direction it’s moving, you lean in.
Crypto hasn’t transformed gaming globally, and is still early in Africa, but it’s starting to unlock real change. It solves practical problems: payment friction, banking delays, and onboarding barriers that fiat systems just don’t handle well.
For players, it means fast payments, and without condoning it, it’s also a way to quietly bank winnings in places where gambling is taxed or tightly monitored. For operators, it’s leaner, faster, and gives more control over how funds move across borders. That alone is a huge shift.
It hasn’t flipped the industry yet, but in Africa, I wouldn’t be surprised if it leapfrogs ahead, just like mobile money did
iGaming AFRIKA: How does cryptocurrency integration enhance user experience, especially in an industry like iGaming, which is still relatively new to it, particularly in Africa?
Conor O’Donovan: Crypto improves UX in many ways that matter, especially for African players who are mobile-first and expect speed and low KYC intrusion. Mobile money is already relatively frictionless in much of Africa, fast, familiar, and widely trusted. But even with MoMo, deposits can go missing, reversals get messy, and crypto cuts all of that out and is cheaper.
It also gives an edge in certain segments, VIPs looking for privacy, or cross-border users navigating conversion costs and capital controls. In markets like Nigeria and South Africa, where cards are more common, crypto offers a clear alternative with better speed, lower cost, less friction, and more discretion.
Players notice the difference. Retention tends to be higher once the product UX matches. It’s early, and not every market has deep crypto; but for the right players, it’s a smoother, smarter experience.
iGaming AFRIKA: What advantages could emerge if crypto betting platforms are granted operational freedom across Africa?
Conor O’Donovan: It depends on who you ask. For players, fewer restrictions, smoother access and more options. For tax authorities, there’s potential downside and little upside. For regulators, the framework isn’t consistent, and innovation is outpacing policy. For licensed local operators, taxation creates an uneven playing field. And for offshore operators, Crypto is built for them. It fits the model perfectly, borderless, fast, discreet. And the more accepted it becomes, the more it plays to their strengths.
iGaming AFRIKA: What trends are you observing in the behavior and preference of African Gamblers using cryptocurrency, and how are these trends shaping the future of online betting on the continent?
Conor O’Donovan: The crypto player in Africa tends to be young, tech-savvy, and already active in digital spaces, Telegram groups, online forums, sometimes even small-scale trading. Some funds come from remittances, some are speculative, and some aren’t fully about tax avoidance, but increasingly, they’re used to place bets, move money, and cash out fast.
Stablecoins like USDT dominate, and most of the action is happening in the big markets: Nigeria, Kenya, South Africa, with some momentum in Ghana, Ethiopia, and parts of North Africa. It’s still skewed toward VIPs and serious bettors for now, but that’s changing.
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Trust is still a big issue for African players; nobody wants to get burned, and many crypto offshore sites aren’t regulated in any real sense. That makes people cautious. For now, many stick with bigger, recognisable brands, but this will change with homegrown sites.
It comes down to localisation: if a platform doesn’t match local expectations for login, payments, and UX, players won’t stay, crypto or not.
iGaming AFRIKA: In what ways can integrating cryptocurrencies into gaming help address key challenges associated with fiat-based deposit and withdrawal processes?
Conor O’Donovan: You have to look at cards and mobile money separately. MoMo, for instance, works well in most places, but it’s not perfect; fees can be high (especially for operators), infrastructure can be clunky, and it’s not always reliable. Cards and bank transfers are expensive, and many players don’t want to link their banking to a gaming site.
Crypto offers a clean alternative: fast, cheap, discreet, and scalable. For players trying to access global platforms with better odds or user experience, it removes a lot of the friction, no intermediaries, no layers of cost.
For operators, it’s a huge win. FX and repatriation are pain points; local billing and global payout can be expensive. Crypto makes that whole flow a lot more efficient.
iGaming AFRIKA: What are some of the common myths or misconceptions about crypto gaming that you think people should start rethinking?
Conor O’Donovan: A few that come up all the time. First, crypto gaming is very risky. The reality, there have been some scam operators, but it is the serious tech-driven operators that are driving this, seeing a huge opportunity and are ready to invest
Second, it’s unregulated. That’s a lazy take. It might not be regulated everywhere, but proper structures are being built, legal entities, compliance and KYC, often ahead of regulators.
And finally, the idea that African players won’t adapt to crypto. That’s just not true anymore. The shift is happening faster than people think. Players in Nigeria, Kenya, and other markets are already deep into stablecoins, trading, tipping, and using crypto wallets. Liquidity varies by market, but the notion that crypto is “too early” for Africa is starting to look outdated.
Read the full interview in our digital magazine:
