The African gambling market is on the rise, surpassing its Western and Asian competitors, according to new research by Carry1st and Newzoo. Online gaming has gained popularity among African youth, with over 16% of the population indulging in the excitement of games from Africa’s top online betting sites and brick-and-mortar sportsbooks. The study reveals a doubling of gamers in the past five years, indicating the continent’s growing prominence in the iGaming industry.
Mobile gaming plays a pivotal role in driving this growth, with 95% of gamers opting for smartphones and tablets as their preferred gaming platforms. The affordability and accessibility of mobile devices have contributed to the market’s remarkable expansion. Projections suggest that the number of mobile gamers will experience a compound annual growth rate of 9.4% between 2020 and 2024, solidifying Africa’s position as the hub for mobile gaming, both in free and real-money gaming.
South Africa stands out as a lucrative market, generating approximately $290 million in gaming revenue in 2021. Other African countries like Ghana, Nigeria, Kenya, and Ethiopia also contribute significantly to the continent’s gaming landscape. Carry1st Co-founder and CEO Cordel Robbin-Coker, emphasizes Africa’s potential, stating that “Africa is the future of gaming,” thanks to the influx of young people coming online and their willingness to engage and pay for gaming experiences.
The narrative surrounding Africa’s infrastructure and economic challenges is transforming, as the report demonstrates the continent’s capacity to become a significant player in the iGaming industry. With unmatched potential, Africa attracts notable companies eager to invest in this thriving market.