2021 was notably a tremendous year for online betting. It saw more and more countries around the world jumping in on the action.
Africa, in particular, has seen great success. Many emerging trends added to the continent’s booming sports betting industry. With this rise in growth set to continue over 2022, let’s take a closer look at some of the major influences.
The Global Shift to Digital & Mobile Tech
One of the most remarkable aspects of today’s digital and mobile technology is its accessibility. Over the past decades, it has provided widespread access to the internet across the globe. This has been achieved through affordable computers, smartphones, and mobile devices.
Likewise, the general improvement in telecommunications provided by mobile tech has been of benefit to all. This is including, and in particular, the African continent at large. Many countries across Africa are now enjoying a steady increase in growth in online-based business. Additionally, a notable increase in online consumerism has followed suit.
In 2021, the online GGR, gross gaming revenue of Africa reached an estimated 25% of its overall GGR. This was a notable increase from the years preceding 2020.
Much of this has been due to the global explosion in the popularity of online casinos and sports betting.
Better Products & Greater Incentive
With increasing access to digital and mobile technology in Africa comes a greater selection of sports betting products and services. In turn, a growing number of sports betting businesses in Africa have emerged. First catering to local markets, though also branching out to neighboring markets.
Kiron Interactive, a South African virtual software developer, recently debuted. They released their selection of virtual sports games. They have also added their names to a growing list of aspiring African-based software developers.
A notable strategy within many emerging markets in Africa has also been the widespread adoption of “freeplay”. This tactic is used to draw in new customers.
An Increase in Operators
Favourable gambling laws in many African countries have given African-based operators an excellent opportunity for success.
Marshalls is an example of a popular South African-based sports betting operator.
Others, such as Kenya’s Odibets, Tanzania’s Bingwabet, Nigeria’s Betking, and many more, have even begun to expand. Many have even begun entering the markets of other African countries. Offering freeplay has proven to be particularly useful here. Providing a way to draw in customers while entering unfamiliar territory.
Covid19 – An Unexpected Stimulus
The advent of Covid19 has been a tragic, nerve-racking, and taxing time for most of the world.
A rather unexpected result, though, has been an evident boost in the global shift towards the digital age. This in turn has proven to be a noticeable stimulus for all types of online commerce. Particularly online casinos and sports betting.
The Hub of African Sports Betting
In 2020, South Africa generated well over $600 million in sports betting revenue. Furthermore, it’s estimated to currently make up close to half of Africa’s combined GGR. In 2022, it continues to be firmly at the center of online sports betting and gambling on the continent.
South Africa is home to many of the top online sports betting operators and casinos in Africa. It has also become a highly fertile ground for new and up-and-coming operators and software developers. All of whom are eager for their slice of the pie.
The Future of Sports Betting in Africa
Estimates for South Africa alone predict its GGR to reach a staggering $2.3 billion by the end of 2023. In South African currency this amounts to around R35 billion. Nearly four times the revenue of 2020!
Even low estimates, though, predict a vast increase in GGR for South Africa along with all African countries engaged in online sports betting. This has spurred great interest, as well as investment, across the industry sector.
Online sports betting, by all forecasts, will continue to grow across Africa at a rapid rate over 2022. This is foreseen to create ever-increasing competition in the markets. Operators will constantly adjust prices to attract new customers, and also to maintain their active player-base.
At its current rate, African sports betting has the potential to become a major contender in the international market. By all indications, this might be very soon.