THE BIG THREE IN GAMBLING

THE gambling industry is one of the fastest growing industries in Africa, thanks in part to a significant rise in mobile phone use across the continent.

But, which are the Big Three African countries in this industry?

SOUTH AFRICA

South Africa may not have the largest population on the continent, but is definitely the largest gambling market in the area, with a gross gaming revenue that is projected to go over US$2.3 billion by this year.

The reason why South Africa is such a booming market is the fact the country has the third-highest GDP on the continent, which increases the nation’s purchasing power and attracts a significant number of investors. 

Actually, almost half of Africa’s gross gaming revenue comes from South Africa, and a great chunk of it belongs to the sports betting segment which currently accounts for 24 percent of the total industry revenue and is expected to double in the next five years.

 Almost half of adult South Africans regularly engage in sports betting, and they are most passionate about football, horse racing, rugby, cricket, and golf. 

NIGERIA 

Not only does Nigeria have a large population of more than 200 million people, but it is also a strong economic force on the continent, which makes it a country with lots of potential in the online casino industry. 

Even though gambling was prohibited until 2004, Nigeria currently stands as the largest wagering market in sub-Saharan Africa, and it also makes up for 7percent of the continent’s total gross gaming revenue. 

However, online casino games are yet to be regulated on a federal level, and there is a clash between the Lagos State Lotteries Board and the Nigeria Lottery Regulatory Commission about who gets to take the lead when it comes to imposing the rules and collecting the money from licensing fees.

Despite the conflicts among the officials, Nigerians adore gambling online, and they are particularly passionate about sports betting. 

In fact, around 30 percent of the country’s population place bets on a daily basis, which is a huge market of more than 65 million punters, and annually they spend US$2 billion on their favourite games. The most popular is European football, and the majority of punters are avid fans of the British Premier League and the Spanish LaLiga.

KENYA

The gambling market in Kenya has been regulated since 2019 by the country’s Gaming Bill, and everything was moving smoothly until the local government announced the introduction of an additional 20 percent tax on stakes in the same year. 

This move scared away some of the major players in the industry, but Kenya still remains one of the largest markets in Africa, although its domestic gross gaming revenue fell from US$300 million to US$175 million in just two years’ time. 

Kenya’s wagering market is also dominated by sports betting. Pulse.

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