Learn more about the fastest-developing gambling markets in Africa. The continent’s huge potential games and sports bets has only just started developing.
Increasingly, Africa’s potential for gambling is being recognized. The economic boosts are undeniable, and if the industry is properly regulated it could be beneficial to all. Take a closer look at the most promising and fastest growing markets on the continent.
South Africa is not only the gambling industry leader in Africa, it also rates highly in word rankings and had a total gross win of $2.53 billion in 2019. Gambling data intelligence agency H2 Gambling Capital predicts that South Africa’s gambling sector will continue to grow into 2024, and will show the global market’s potential with an expected total gross win increase of 45.9%.
Online betting and casino games are currently illegal but numerous outside operators accept thousands of enthusiastic South African players. Operating gambling sites within the country is specifically prohibited, but playing at them is not, leaving the legislation in a grey area that seems to favour gamblers.
Morocco is another rapidly accelerating African market, and although it is not big yet, the country has recognised its potential for tourism. Gambling has been legalised since 2002, by decree of the Prime Minister. Currently, almost all types of casino games and sports betting are legal to Moroccans.
The country’s four main cities, Tangier, Casablanca, Agadir and Marrakesh, all offer land-based casinos that operate every day of the week, and are regulated and licensed by the government. Brick-and-mortar establishments yield 92.6% of the gross win.
Interestingly, online games are not nearly as favoured by Moroccan players and the virtual betting market is only expected in increase by 0.1% by 2024. The nation also prefers to try their luck on casino games rather than lotteries.
Nigerians’ love for placing bets and playing games is clear; four out of 10 people in the country are involved in gambling activities even though they aren’t encouraged by the government. The industry has the potential to grow by 99.7% by 2024, taking 2019’s total gross win of $375.9 million much higher.
The 1990 Criminal Code Act permits sports betting, lotteries, racing and certain skills-based activities, while forbidding games of chance. However, offshore operators fall into a grey area in this country as they do in South Africa, and Nigerians are thus able to play these games online.
As an officially Muslim country, Egypt prohibits gambling among its own citizens. However, land-based casinos are permitted and generate considerable revenue for the nation. The total gross win in 2019, from bets by holidaymakers and foreigners who live in Egypt, was $245.9 million.
As in most African countries, online gambling is not addressed in Egyptian regulations and locals can visit offshore operators without fear of persecution. The fact that Egypt’s total gross online win was $2.6 million in 2019, and is expected to jump to as much as $3.6 million in 2024, is a testament to how many citizens are doing just that – and how much the government is losing in taxes by prohibiting the activity.