The gambling market in many African nations, has witnessed tremendous growth in recent years. The gambling activities in the continent has not only been experiencing a massive surge but have been attracting some of the biggest operators in the world to its space.
The rapid growth will be attributed largely to the wide advancement in technology in the continent, which has resulted in more accessibility to the internet, increase in smart phones and mobile penetration.
However, not all African countries key in to the novelty of gambling operations, as its activities is prohibited and considered illegal and in some cases punishable under the penal code in some countries like Libya, Mauritania, Sudan, Guinea-Bissau, Eritrea, Mali and Somalia.
Even though the African gambling market is still not fully there yet, especially when compared to established markets like the United Kingdom, United States and some European countries, but it is undeniable that the industry is fast expanding exponentially.
Global giants like Betway, 1xBet and Pragmatic Play are now very prominent in numerous African gambling markets, and more are set to follow soon.
Here are the top Gambling Markets in Africa according to reports and statistics.
1. South Africa
The player value in South Africa is very high, making the country very attractive to global operators.
South Africa accounts for almost half of Africa’s Gross Gaming Revenue, with the country’s GGR set to go beyond $2.3 billion by 2023. The player value in S A is very high which makes it very attractive to the global community.
The country also benefits from the greater diversity in its gambling population. SA has a better balance than other countries when it comes to sports betting.
South Africa has less than a third of Nigeria’s population, but it beat Nigeria to No. 1 spot by virtue of its high GDP, but with over 200 million inhabitants, Nigeria is fast closing in.
Nigeria has become a major player in online betting in the world, and over the last decade, the country has become a leading gambling market in Africa.
Nigeria contributes 7% to the total Gross Gaming Revenue in Africa, making the country one of the largest on the continent.
It is said that Nigerians now spend a whooping $2b on sports betting alone every year.
Mobile penetration in Kenya is constantly on the increase, and so is internet accessibility, and with mobile money networks like M-Pesa allowing for easy deposits and withdrawals from betting sites, online betting has continued to thrive.
Kenya is right at the forefront of the tech boom in Africa, and this has rubbed off on many aspects of the economy. The online gambling industry in Silicon Savannah has not been left out!
Many betting sites in Kenya now have M-Pesa, leading to some astounding financial numbers. It was reported that between April 2021 and September 2021, Kenyans wagered an incredible Ksh. 83.2 billion via M-Pesa.
The Kenyan government and the gambling operators have always disagreed on the issue of taxation, leading to the exit of some top operators in the country, a few years back.
With situations getting back to normal, great betting sites like Betway and 22Bet are now firmly established in the country.
Ghana is one of the most liberal gambling nations in Africa and has risen to become one of the biggest market on the continent.
In 2021, the finance arm of the Ghanaian government revealed that the country was losing over GHS 300 million annually to leakages in online gambling, calling for the government to tighten its tax laws. That’s a testament to just how huge the industry is.
According to reports, almost half of Ghana’s adult population is said to be involved in one form of gambling or the other. The country now boasts of over 30 betting companies.
Uganda has experienced a major gambling boom in the last few years, with bettors from the country wagering an estimated $40million annually.
As is the case with many sub-Saharan African countries, online sports betting has been the chief contributor to Uganda’s gambling numbers.
Tax revenue from sports betting has been on a sharp upward trajectory, totalling about $12million in 2018, as against $3million in 2013 -2014.
Despite opposition from some sections of the Ugandan government, and a temporary ban on gambling activities in the country, the industry has continued to experience massive surge..