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Why is Africa the Next Big iGaming Market?
Every time a country or region relaxes its laws on sports betting and online casino play, the industry asks who will be next. It’s a pattern that has continued throughout the age of digital gambling, but recent years have been different.
A huge shift in the industry began in 2018 when the United States Supreme Court relaxed previous legislation relating to sports betting, Canada quickly followed, and iGaming revenue increased exponentially.
The Next Big Thing
It’s easy now for players in most parts of the US and Canada to access casinos and sportsbooks. In Canada, the practice remains restricted in some provinces, but with Ontario opening up to digital operators in 2022, the landscape has shifted significantly.
In Ontario and other provinces around the country, players can log on and search for their next online casino real money partner with just a few clicks. The changes have seen two global giants, with vast populations, join the iGaming sphere.
The sheer size of the US and Canada means that the industry is no longer looking at smaller countries to get on board; instead, they are searching for the ‘next big thing.’
The Likely Candidate
The iGaming sector has identified an entire continent as its next major contributor. Those in the know feel that Africa will step up to provide a boost in revenue figures in the same way that the USA and Canada have done in recent years.
Like those two countries showed around ten years ago, Africa has great scope to develop. Many regions have yet to open their doors to online sports betting and casino operators, but the example set in North America may inspire them to do so.
The revenue generated by legalized gambling in the USA and Canada is significant enough that others cannot ignore the changes. The blueprint is there, but will Africa follow it?
Willing Audience
One factor in Africa’s favour is the fact that the continent is mad about sport. Football is the national sport of many countries here, and interest has grown following advancements at several World Cups.
In the past, African countries were there to make up the numbers, but they are now a serious competitive threat. Football in Africa received further boosts thanks to two notable firsts.
In 2010, South Africa became the first African country to host the World Cup, and the tournament was widely seen as a success. 12 years later, Morocco advanced to become the first nation from Africa to reach the semi final of the tournament.
Both achievements boosted interest in the continent, and the iGaming industry knows that those developments increase the focus on Africa as a sporting nation. There is a following for other sports too, but the iGaming industry needs more than just a willing audience for sports betting.
Casino Real Estate
Africa is a continent full of contrasting countries. While it’s true that some may be hostile places for overseas visitors, others offer luxurious settings and are fully focused on the tourism industry.
South Africa is a prime example of this, and a country where casinos have been established for decades. The Seychelles is another glamorous destination where players can relax in the luxurious beach areas before taking to the gaming tables.
In general, Africa’s casinos are in places where tourism is already established, and Egypt is another example. That leaves plenty of scope for new real estate in undiscovered areas.
Population Progress
Africa also has a vast population in place and the rate of growth is comparable to other countries around the world. By 2050, it’s claimed that Nigeria will be the place of birth for around 10% of all global babies.
Any sector will pick up on those statistics, and if the trend to follow sport continues among the youth, that iGaming audience will grow significantly.
The fact that some countries have heavy restrictions on online gambling is another factor in the industry’s favour. Legalizing sports betting and casinos has other benefits beyond revenue figures, as it helps to take the practice out of the underground.
Certain countries will inevitably begin to see the advantages, and follow the lead provided by those regions in North America.
There are many good reasons why Africa is seen as the next big thing among the iGaming industry. It already has a ready customer base who love sport and casino play. There is a growing population in many countries and that will boost the customer base over the next two decades and beyond.
Additional Sources
Many countries in Africa are still to regulate sports betting and casino play. The question of legality provides a mixed picture across the continent, with several nations still to fully embrace the practice.
In short, there is huge scope for development, and every reason why Africa should deliver on its iGaming potential in the next few years.
