The emerging gambling market in Africa is now among the most rapidly evolving in terms of the sphere’s potential. The global growth trend is particularly noticeable on the continent amid tightening regulations and blocking measures in more mature jurisdictions.
Internet Sportsbook GGR: Forecast to 2030
According to H2 Gambling Capital's report on regional revenues from 2019 to 2030, the CAGR for the web betting segment reaches 13.23% for these years. At the start of the analysed period, the vertical was estimated at $3.8 billion, and by the end, it would amount to $14.9 billion.
The study reveals that at the beginning, Nigeria was an absolute leader in internet wagering. By 2023, the balance of power had shifted, with the sports betting business in South Africa taking 1st position. Uganda and Kenya are projected to become the next-largest industry powerhouses on the list by the 2030s.
The following small markets at the leaderboard’s end will show modest but stable growth:
- Algeria;
- Mauritius;
- Republic of the Congo.
Online Gaming: Gross Revenue Prediction
The CAGR for this niche is forecast at 18.43%. In 2019, the sector started with just $0.7 billion. The agency’s representatives believe that by 2029, this branch will overtake the web sportsbook results reached in 2019 and then mirror its further trajectory. By 2030, online games would account for $4.5 billion.
In 2019, Nigeria ranked 1st among leaders. Nevertheless, in 2023, Ghana surpassed it and is expected to retain this position through the end of the reporting period.
Other major competitors in the region:
- Kenya;
- Cameroon;
- South Africa.
It is also important to understand the reasons behind Nigeria’s decline in ranking, with a substantial GGR drop in 2022−2024, from $274 billion to $117 billion. The state lost its leadership due to pandemic restrictions. Nevertheless, it is now actively working to regain strength and is showing quite inspiring results.
Ed Birkin’s Opinion on the Market’s Dynamics
H2's Managing Director is confident of stable growth across all African jurisdictions. As local regulators revise their oversight models, the industry will see a significant influx of investment, the spokesman believes.
He added that currently, many entrepreneurs are considering Latin America as a priority launch destination. Nevertheless, operators focused on Africa will reap even more long-term benefits. The continent is expected to undergo noticeable structural strengthening.
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