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Africa gambling market is expected to reach a valuation of US$ 6,784.25 Mn by 2030, with an estimated CAGR 7.54% over the forecast period 2022-2030. In 2021, the market generated a revenue of around US$ 3,615.11 Mn. Casinos, bingo halls, video gaming terminals, lotteries, and off-track sports are some of the most popular gambling establishments in the region that provide betting provide gambling services and related goods. These companies include organizations, sole proprietors, and partnerships.
The Africa gambling market is expected to grow at a healthy CAGR over the forecast period due to a number of factors, including massive investments in transmission and distribution infrastructure, an increase in power production capacity globally, an increase in electrical faults, and government initiatives to encourage the use of ground-fault monitoring relays in residential and commercial settings.
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Increasing Popularity of Gambling Apps and Social Gambling
It is anticipated that the growth of social gaming and gambling apps will boost the Africa gambling market. Sports betting has grown significantly in Africa over the last ten years. Online betting is becoming increasingly popular throughout Africa, offering investors a profitable prospect for growth. 4 out of 10 Nigerians, or nearly 60 million, are between the ages of 18 and 40, are regular on sports betting. The greatest sports betting mobile gaming apps in Africa are Bet365, 1xbet, Bet9ja, Betking, Betpawa, and Betfair, among others.
With over 2,560 smart card slot and 79 premium tables games, GrandWest Casino and Entertainment World in Cape Town is South Africa’s largest casino in Africa gambling market.
Extensive Advertising and Celebrity Endorsements
Betting companies in countries like South Africa, Nigeria, Ghana, and Kenya are using celebrity endorsements to promote their products. Over the years, marketers use creative marketing campaigns to capture audiences worldwide. Celebs that are endorsing betting companies in the major African gambling markets include:
Stringent Government Regulations on Gambling
Stringent government regulations on gambling will significantly restrain the Africa gambling market throughout the projection period. The gambling regulations are different in every country as some countries may have different laws because of different government regulations and some require a legal license. Some of the obstacles that new betting operators can face while entering new markets in Africa are:
Betting Control and Licensing Board (BCLB) regulates both digital form and land-based forms of gambling, including gaming, betting and Lottery, among others. 2010 under the Fourth Schedule, the Constitution of Kenya allotted the batting, casinos, and other forms with their proper functions of gambling to the National and Country Governments.
Growing Popularity of Online Gambling and Casino-Based Games
The rising popularity of online gambling and casino games presents investors with a profitable possibility for expansion in the Africa gambling market. Online gambling sites are becoming more popular in Africa due to a number of factors, including the availability of a wide selection of games, alluring bonuses, convenience, safe play, and accessibility.
As citizens of nations like Kenya, Malawi, Nigeria, and South Africa are known for their passion for placing bets, sports betting, casino gambling, and online gambling have grown incredibly popular.
Additionally, since COVID-19, online casinos in the Africa gambling market have been extremely popular. Instant casino games have gained the most traction among gamblers. For instance, many gamblers in Nigeria are embracing instant gaming.
Growing Usage of Smartphones and Internet Penetration for Online Gambling
The current trend in the Africa gambling market is the rising use of smartphones for online gambling. In South Africa, the penetration of mobile devices is anticipated to reach 67% by 2026. E-Gambling has experienced substantial growth over the past five years as a result of ground-breaking technology like artificial intelligence and 5G. Around 26 million cell phones had arrived in the African continent by the third quarter of the year 2021.
The gaming sector has been boosted by rising smartphone usage and internet adoption as more people are entering the realm of gambling in the Africa gambling market. Technology advancements have made it possible for thousands of gamblers to play HD or 4K games online. Many gambling websites can feature live casino games thanks to high-speed internet, and this has inspired many players to start playing online.
Advancement in technology, such as Augmented and Virtual Reality provides excellent graphical real-life representations which grabbed online gamers attention. Moreover, due to advanced technologies, the emergence of live casino is the new trend in the gambling market. Also, the readily available payment solutions to customers and online players have increased the acceptance of smartphones for gambling.
Furthermore, mobile gamers in South Africa spend approximately more than 4 hours per day on their smartphones and 71% of the adults play mobile casino games.
Today, a casino is the largest revenue-generating segment in Africa gambling market. The region has numerous land-based casinos, with the largest concentration in South Africa. Casino revenues in Africa have been growing steadily over the past decade, reaching a record US$ 1,260.93 million in 2021. The African gambling market is currently the fastest growing in the world, with a compound annual growth rate (CAGR) of 7.54% between 2022 and 2028. This growth is expected to continue in the coming years, driven by factors such as the expanding middle class and rising disposable incomes.
South Africa is currently the largest gambling market in Africa, accounting a significant share of all gambling revenues on the continent. Other major markets include Nigeria, Mauritius, Kenya, and Ghana.
By channel type, online segment in the Africa gambling market to grow at the highest CAGR 8.66% as compared to offline and virtual gaming segments. Nigeria has the best and widest range of internet connectivity among all the African nations. Also due to the rise of mobile devices, Africa has recently become a desirable market for iGaming investors.
Local governments' readiness to establish a controlled, legal environment for the internet gaming business also aided the continent's cause. They have also been able to create new local revenue streams in the Africa gambling market.
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End User Analysis
By end user, Africa gambling market is segmented into gambling enthusiasts, dabblers, and others. Based on this, market category, the avid gambler holds a strong position in the Africa gambling market as compared to dabblers and other end users.
Based on market segmentation by country, South Africa is leading with the highest market share. Gambling in South Africa is regulated by the National Gambling Board (NGB), which was established in terms of the National Gambling Act (No. 7 of 2004). The NGB is responsible for the regulation of all gambling activities in South Africa gambling market, including online gambling. Online gambling is growing in popularity in South Africa, with sports betting and casino games being the most popular forms of online gambling.
According to a report by Astute Analytica, the number of people who gamble online has increased from 1.6 million in 2015 to 3.2 million in 2020. The most popular form of gambling in South Africa is the lottery, which is offered by the National Lottery Commission. Other popular forms of gambling include horse racing and casino games.
List of Key Companies Profiled
By Channel Type
By End User
|Market Size Value in 2021||US$ 3,615.11 Mn|
|Expected Revenue in 2030||US$ 6,784.25 Mn|
|Unit||Value (USD Mn)|
|Segments covered||By Type, By Channel Type, By End-User, By Region|
|Key Companies||1xbet, Bet365, Bet9ja, Betika, BetKing, Betpawa, Betway, Dafabet, Kings Sports Bettin, Melbet, Parimatch, Powerbets, Premierbet, Sky Betting & Gaming, Sportybet, Tipico, Surebet247, The Cyprus Casinos, Other Prominent Players|
|Customization Scope||Get your customized report as per your preference. Ask for customization|
The Africa Gambling Market was valued at US$ 3,615.11 Mn in 2021.
The Africa Gambling Market is estimated to grow at a CAGR of 7.54% during the forecast period.
Increasing popularity of gambling apps & social gambling and extensive advertising and celebrity endorsements are the factors driving the Africa Gambling Market.
Stringent government regulations on gambling may hamper the market growth.
The segmentations considered to analyze the Africa Gambling Market are based on type, channel type, end user and country.
Growing popularity of online and casino-based games is expected to provide an opportunity for market expansion.
Casino type was the highest shareholding type-based segment in 2021.
Online channel type is estimated to have the highest CAGR.
Africa has become an attractive market for iGaming investors in recent years due to the proliferation of mobile devices.
Gambling enthusiasts were the highest end users in the Africa Gambling Market in 2021.
South Africa held the highest share in the Africa Gambling Market in 2021.
The key players in the market are Betway, Bet365, 1xbet, Kings Sports Betting, Melbet, Powerbets, Sky Betting & Gaming, Surebet247, The Cyprus Casinos and SkyBet among others.
The pandemic had a negative impact on the Africa Gambling Market.
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