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

“YES” in caps and why?

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 makes 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.

Internet and mobile penetration in the three economies are 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.

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