Overview of the African gambling market

Overview of the African gambling market

Africa, the land of exotic fauna and flora, is the second-largest continent with fifty countries and a 1.3 billion populace. There is a general apparition the continent is restricted with no advanced information technology. But keen investors and entrepreneurs know the huge potential hidden in this land. Increasing mobile internet connectivity is fuelling the growth of the iGaming industry in Africa. Over 75% of the region is covered with mobile coverage, and 66% has high-speed internet coverage. Latest 4G technology is implemented in Africa, generating numerous internet webs in the region. Economical smartphone sets duo with the latest technology resulting in a colossal explosion of mobile internet access.

Emerging African market

Many elite global bookmakers and casinos are using this opportunity to penetrate the gambling market of this region. These emerging casino websites offer multiple welcome bonuses; choose the apt one to reap the benefits. Melbet link is such an online casino that supports a plethora of deposit and withdraws options. Most online gambling portals obtain a license from Curacao, which entitles them to operate in many countries, including African countries; Kenya is a significant market. Another advantage of a melbet account is there is no charge or minimum deposit restriction. When you request a payout, it is processed within fifteen minutes.

Though the gambling industry is flourishing in Africa, many issues need to be resolved. In many African countries gambling laws are ambiguous, outdated or not implemented by concerned authorities. Despite these legal hindrances overwhelming majority of Africa loves gambling. For casino owners and investors, this land holds a lot of promise. 

GGR (Gross Gaming Revenue)

The largest African gambling markets are in South Africa, Nigeria and Kenya. South Africa is the most inclusive gambling market worldwide, with an expected GGR (Gross Gaming Revenue) of $2.5 billion by the end of 2021. GGR (Gross Gaming Revenue) is an analytical instrument used by gambling companies; the sum is equal to the difference between the total wagering amounts by players minus prize money. 

The most sought-after gambling activities in this country are sports betting and horse racing. It is presumed around half of the population bets on sports regularly; some even bet once a month. Football is the apex of sports betting. Many gamblers bet on African leagues, but European Championship attracts a substantial amount of bets from local gamblers. The next popular sports betting is cricket, followed by polo, snooker, handball, 

Second largest gambling market

Another promising gambling market in Africa is Nigeria; GDP (Gross Domestic Product) was $410 billion in 2019. It is the second-largest gambling market in Africa. The gambling restriction was lifted in 2004; since then, many online casinos have started operating in this region with enthuse. The iGaming market holds great potential with two hundred million populations. According to a study conducted in 2014, 30% of the population indulges in sports betting regularly. About sixty million people from age eighteen to forty are ardent sports followers. Researchers estimate the daily betting amount is around $ 5.5 million, which sums to approximately $2 billion annually. Nigerian gamblers wager colossal amounts in British football and Spanish leagues.