Future of online gambling industry in the African market – Business Insider Africa

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The eGaming enterprise is fast expanding across Africa, and it is not by chance. But first, several factors have contributed to the expansive growth of online gambling sites on the continent. Legislative changes to expand the revenue base for several African governments is only one way of looking at it. The question is, what does the future of gambling online look like for Africa?
The truth is that things have taken an upward trend in the casino industry since COVID struck, especially on online gambling sites. And while some land-based casinos are roaring back to life, online gambling sites in Africa are undoubtedly taking over. This post explores the African eGaming market in detail but with an emphasis on the future. Today, you are just a click away from becoming part of online gambling in South Africa.
Technology has been integral to every progress made on Earth since the 1950s. Today, new and emerging technologies are changing the pace at which Africans become part of the eGaming world. For example, South Africa was the first African country to introduce 5G, effectively changing the communication landscape forever. Kenya followed shortly before several other countries such as Nigeria, Ghana, and Egypt became part of the revolutionary mobile technology.
The use of smartphones to gamble online together with 5G to speed up the rate at which African access to the web has had far-reaching impacts on the African eGaming market. Continued widespread use of smartphones across Africa means more gamblers are becoming part of the wagering world. Consequently, the gig economy is positively impacted as thousands of professional gamblers now eke a living online.
Moreover, 5G technology has fueled the establishment of gambling businesses in Africa as high-speed internet has become crucial in running online businesses. The advent of 5G means thousands of gamblers can now play HD or 4K games online without lags. With it, several South African gambling sites can now host live casino games. The ripple effect of 5G in Africa’s online gambling industry is thus spreading fast across the continent, especially in countries with stable economies.
Artificial Intelligence, often defined as the use of machines to do human tasks, is becoming a crucial part of Africa’s online gambling story. These 12 startups that have announced the largest funding in 2022 are a perfect lens to help you look into how AI is transforming business. AI is revolutionary in areas such as financial security, speed of doing business, and online safety. The eGaming market in Africa is on the verge of fully embracing AI. In a nutshell, the use of AI is largely exhibited in customer support chatbots, processing of payments, user data protection, and verification of digital documents on gambling sites.
The latest stats show that Africans make up 11.5% of global internet use. A large percentage of these users also access gambling sites. And while legal issues have greatly jeopardized the growth of online casinos in some parts of Africa, the continent is home to millions of gambling enthusiasts who directly or indirectly contribute to the growing eGaming enterprise. In a nutshell, Africa is a critical part of the boom being witnessed in online gambling since 2020. Establishing new gambling sites is especially important in the Middle East and Africa business revolution. The post-COVID world has seen several gambling sites sprout in several parts of Africa, further expanding government revenues and creating thousands of employment opportunities.
Africa’s largest gambling markets are Nigeria and South Africa. Interestingly, South Africa’s online gambling laws have not been very progressive in recent years, yet the country boasts the most vibrant eGaming enterprise. That only means that as the South African government continues to amend its gambling laws, we can expect the revenue in this industry to keep growing.
In the 2022 financial year, South Africa’s gambling revenue hit $2.2 billion. Nigeria’s online gambling market grossed more than $600 million in 2019. Kenya has the third-largest online gambling market in the industry. The online gambling industry in Kenya is worth around $40, a value that must have significantly shot up post-COVID. Ghana is also a noteworthy country in the fast-expanding African online gambling market. Recent forecasts indicate that Ghana’s online gambling revenue will hit $9.3 million in 2023.
Instant casino games in Africa have become a new sensation among gamblers. Bingo is especially popular in this regard. Nigeria is a perfect example of an online gambling enterprise where thousands of punters are fast-embracing instant gaming. Lotto games underscore online gambling South Africa as they have been around for years and continue to be popular. Moreover, with continued access to high-speed internet and the widespread use of smartphones, instant games are set to contribute immensely to the future growth of Africa’s online gambling industry. The fact that a majority of Africa’s gambling populations are youths means the continent is a vibrant market for expanding regulated online gambling enterprises.
The story of the online gambling industry in Africa is worth a study. From once a sleepy gambling market to a technologically advanced continent, Africa is ripe for online business. Revolutionary technologies such as 5G and Artificial Intelligence that are changing the post-modern world are also shaping Africa’s story. To a greater extent, eGaming has witnessed massive growth in the last year than in the past five years. And as Africa opens up to new investment opportunities, the continent’s unexploited online gambling is at the center of it all. In South Africa, also known as the continent’s gambling Mecca, the government is changing gambling laws to accommodate the need for more revenue.
Notably, international South African gambling sites have doubled in the last two years. In Kenya, strict regulations have helped root out illegal gambling practices, further creating a safer and more vibrant sector where players can access online gambling games without risking their security.
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