Betting has been a popular practice for centuries, and in today’s modern times, it developed into a multi-billion dollar industry. Web-based betting has taken the world by storm, and Africa is no exception. As the second-largest continent on the planet, it is a significant contributor to the growth of the industry on a global scale. Africans have always been passionate about wagering, and if you’d like to learn more about the rise of internet betting on the continent, continue reading.
The State of the Gambling Industry in Africa
The African gambling market is rising quickly, and it is projected to continue to grow at an annual rate of 12% until 2025. By the year 2025, the market is expected to exceed $40 billion, and the majority of such growth comes from online betting. Thanks to such a high demand for online wagering, many local and international businesses decided to launch web-based gambling operations on the continent. Therefore, the locals are now presented with an excellent choice of online sportsbooks they can choose from. The selection is so huge that many punters turn to reliable resources like the Bettors website, where they can easily find trustworthy online bookies. Reading unbiased reviews and actual client testimonials helps locals focus on reputable platforms that will keep their personal information safe and secure.
The Key Factors Behind the Growth
Let’s go over some of the main reasons why online betting is rising so fast in Africa
Accessibility of Mobile Technologies
Nowadays, the majority of adult individuals in Africa have access to mobile phones, which makes it much easier for them to access virtual betting sites and apps. On top of that, the locals also have better access to stable internet than ever. Moreover, the online gambling industry is gradually shifting towards the use of mobile devices, and with a population of over 1.3 billion people, Africa has the potential to become one of the biggest wagering markets on the planet.
A Widespread Passion for Sports
Regardless of their culture, language, religion, or social status, the people of Africa have one important thing in common – they adore sports. The locals are particularly interested in soccer, and they spend a lot of time and energy cheering for their favorite teams and leagues. If we pair this piece of information with the fact that Africa has a quite youthful population, it is clear that the continent is a perfect market for the growth of online betting. Namely, more than 60% of the population is under the age of 25, with a median age of only 19.7.
The Biggest Markets on the Continent
The majority of African countries are thriving when it comes to online betting, but there are some areas that simply stand out:
South Africa
South Africa is the largest gambling market in the region, and its gross gaming revenue is expected to exceed $2.3 billion by the end of 2023. Sports betting currently makes up around 24% of industry revenue, and it is expected to grow even more. Almost 50% of the country’s adult population regularly wagers on sports.
Nigeria
Nigeria has the largest population in the area, and thanks to that and a very high gross domestic product, the country is the most powerful wagering market in sub-Saharan Africa by GGR. Around 30% of Nigerians place sports bets on a daily basis, which creates an active market of more than 65 million punters.
Kenya
Even though operators in Kenya are experiencing certain difficulties when it comes to laws and regulations, it is still one of the leading gambling markets on the continent. And just like in other countries in the area, sports betting is the dominant sector. At the moment, there are around 7 million locals who are registered for some sort of wagering service.
Africans are crazy about wagering of all kinds, but the majority of the continent’s population is particularly interested in online betting, especially in countries like South Africa, Nigeria, and Kenya. Thanks to the rise of mobile technologies and the increased access to stable internet connections, the locals can now easily place wagers even on the go.
