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Is Africa a good bet for investors in the igaming industry?

“YES” in caps and why?

Africa is home to the youngest population in the world. It offers both immediate and long-term opportunities and the market is still far from fully saturated. The three giants of the African gaming economy are Nigeria, South Africa, and Kenya.

Nigeria has the largest population in Africa and among the three countries is leading in gamers with an excess of 60 million Nigerians active gamblers. Around 30% of Nigerians between the ages of 18 and 40 gamble daily both online and in retail outlets in the country. 

With a GDP of US$420 billion, South Africa was ranked second on the continent in 2021. The size and stability of the country’s economy make it particularly attractive for business ventures, including igaming. Licensed land-based bookmakers are allowed to open online branches.

Nearly 50% of South Africa’s adult population bet on sports, with the majority of punters placing a bet at least once a month. In this sense, investors may find this market a great target for launching an online Sportsbook.

In Kenya, most types of betting are allowed, and hundreds of new online casino sites have appeared in recent years. The country is a leader in interactive games; Millions of Kenyans periodically visit gambling sites.

The situation in the Kenyan gaming market is similar to the Nigerian market and retail shops are opening daily. Kenya has a population of close to 55 million people. Sports betting, particularly football betting, is extremely popular in Kenya with a new race of gamers interested in casinos, and virtual betting is growing daily.

Read Also: Betting on Africa: The Success of Gambling In Africa

Internet and mobile penetration in the three economies is among the best in the continent and the main contributors to the spread of gambling activities.

Generally in Africa More than ¾ of the continent has access to a cell phone, and ⅔ has access to high-speed mobile internet; over 70% of the continent’s population uses smartphones. Keep in mind that the famous Elon Musk Star link is now venturing into the continent and offering internet.

The takeaway is that these are three countries out of 54 and the opportunities are almost identical except for a few Islamic nations that don’t allow gambling. Africa has the market, the lenient laws, the internet, and the massive spread of smartphones.

Be it now or in the future, there is a MASSIVE potential in the continent, and if you are operating here or thinking of starting in Africa get the best domains well suited for your brand here.

Jeremiah Maangi

A trusted igaming leader & author for articles bringing positive change in the African gambling industry. African gambling domains broker. Intelligent knowledge of customer acquisition and retention strategies. Available for new & existing gambling operations consulting and marketing services in Africa. Crypto enthusiast.

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