Africa Gambling Market is projected to record a growth in revenue from US$ 3,048.05 Mn in 2021 to US$ 5,637.37 Mn by 2030, registering a CAGR of 6.99% during the forecast period 2022-2030. Africa is witnessing exponential growth in gambling activities as more gaming companies are setting up businesses across the continent. Africa, being the second largest continent in the world, is home to millions of sports and gaming enthusiasts. Undoubtedly, the continent is a key player in the growth of the gambling industry.
The phenomenal growth in the gambling market of Africa is attributed to the young population of the continent. The African continent is one of the world's regions with a growing young population. Africa's young people, defined as those between the ages of 0 and 24, will rise by roughly 50% by 2050. South Africa, Nigeria, Kenya, Tanzania, Rwanda, and Ghana have become major gambling destinations in the continent in recent times. The expanding ubiquity of mobile communication, along with the availability of smartphones, has been a major driver of this trend. However, the COVID-19 outbreak has wreaked havoc on the gambling/ casino business on the ground. Government-imposed restrictions in several nations resulted in the shutdown of casinos, lottery outlets, and other gambling facilities.
The offline gambling segmentation type is estimated to have the highest market share of 90% in 2021, however, the digital segment is anticipated to grow at the highest rate during the forecast period, registering a CAGR of 8.59%. The growth in CAGR is attributed to the rising use of smartphones in the African continent.
The casino holds the highest market share by product type, valued at US$ 1,972.23 Mn in 2021, and is anticipated to reach US$ 3,431.58 Mn by 2030. South Africa is the major country in the Africa gambling market. South Africa is regarded as the gambling Mecca of the African continent with a share of 79.4% of the gambling market in Africa.
Report Summary
The study of the Africa Gambling Market considers various market determinants, emerging economies in gambling, and competitor analysis in the African gambling market. The report discusses the analysis of the Africa gambling market for the period 2017-2030, where the base year is 2021 and the forecast period is 2022-2030. The report provides a detailed analysis of the gambling market in Africa across 5 chapters and 53 pages.
The research report offers a detailed study of market determinants including market drivers, restraints, opportunities, and trends; along with an attractive presentation in the form of impact analysis to gain a simpler and easy comparison view of all market determinants. The subsequent sections provide details of the market analysis based on different segments such as type, product, and region. In addition to this, the report also presents extensively the key competitors in the gambling market in Africa such as Sun International Ltd, Phumelela Gaming and Leisure Limited, Peermont Global Pty. Ltd., The Northern Cape Gambling Board, and Tsogo Sun among others.
Impact of COVID-19
The COVID-19 outbreak has wreaked havoc on the gambling/casino business on the ground. Government-imposed restrictions in several nations resulted in the shutdown of casinos, lottery outlets, and other gambling facilities. Closures left casinos without revenue for weeks or months, and even when they reopened, limits were imposed to limit the number of guests, preventing them from operating at full capacity. During COVID-19, data on gambling-related harms was found in nine studies. However, the pandemic prompted customers to spend more time and money on various games and gaming consoles, resulting in the expansion of the commercial gambling business. Coronavirus has altered the gambling narrative. And it's a business first in Africa, where millions of gamblers have accepted the new norm of gaming from home.
A Glance at the Competitors
Report Highlights
Segmentation Overview
By Type
By Product
By Country
Report Attribute | Details |
---|---|
Market Size Value in 2021 | US$ 3,048.05 Mn |
Expected Revenue in 2030 | US$ 5,637.37 Mn |
Historic Data | 2017-2020 |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Unit | Value (USD Mn) |
CAGR | 6.99% |
Segments covered | By type, product, and country |
Key Companies | Sun International Ltd., Phumelela Gaming and Leisure Limited, Peermont Global Pty. Ltd.. and other prominent players. |
Customization Scope | Get your customized report as per your preference. Ask for customization |
Africa Gambling Market was valued at US$ 3,048.05 Mn in 2021.
The study period considered for the gambling market in Africa is 2017-2030.
The African Gambling Market is segmented into three broad categories namely – by type, by product and by country.
The African Gambling Market is segmented into three broad categories namely – by type, by product and by country.
African Gambling Market is expected to witness a jump in revenue from US$ 3,048.05 Mn in 2021 to US$ 5637,37 Mn by 2030, registering a CAGR of 6.99%.
In 2021, casino with a share of 64.7% is the leading product type in the Africa gambling market.
South Africa with a share of 79.4% has the largest market size for the African Gambling Market in 2021.
Presence of young population is propelling the growth of gambling market in Africa.
Steep decline in casino revenues and operations due to the COVID-19 pandemic have challenged the growth of the gambling market in Africa.
The key players in the Africa gambling market are Sun International Ltd., Phumelela Gaming and Leisure Limited, Peermont Global Pty. Ltd., The Northern Cape Gambling Board and Tsogo Sun among others.
The COVID-19 outbreak has wreaked havoc on the gambling/ casino business on the ground. Government-imposed stay-at-home prohibitions in several nations resulted in the shutdown of casinos, lottery outlets, and other gambling facilities.