The sports betting market in Africa is expanding at an impressive rate. The number of firms investing in the industry is quite impressive. Africa seems to be the perfect place for new growth in this industry. The continent has a population of over a billion with the majority aged under 30. This, among other reasons, make it an ideal location for short- and long-term investments. Kenya, Ghana, South Africa, and Nigeria have benefited the most from the wave of investment. Their distinct characteristics, such as big GDPs and population size, make them most attractive to iGaming investors. Among the most prominent investors already competing for the lion’s share of the lucrative market include:
Pragmatic Play with ChampionBet
Due to its worldwide reputation for supplying iGaming content, Pragmatic Play has become a household name in the industry. ChampionBet, a betting company with operations in Ethiopia, Ghana, Uganda, and Ghana, just struck a distribution agreement with Pragmatic Play.
The multi-vertical delivery agreement expands Pragmatic Play’s market in Africa and makes its game catalog available to local players. Pragmatic’s most popular games include Gates of Olympus, Big Bass Bonanza, Cleopatra, and Mega Wheel. The agreement also provides African gamers access to the company’s live casino games, including roulette and blackjack.
The agreement aims to improve African gamers’ experiences by expanding the product offering and facilitating repeat access. These characteristics are perfect for the young African market. They are also helpful to the collaborating companies because appealing to young target consumers makes it easier to make profits in the rising market.
Veli Services, in collaboration with Paridirect
Veli Services is well-known throughout the iGaming industry as a world-class gaming platform provider. The iGaming company has expanded its operations via a B2B2C relationship with PariDirect in Congo, a well-known pan-African gaming provider.
According to Gia Janashvili, CEO of Veli Services, Congo-Brazzaville has significant opportunities worth exploring. However, some tactics may fail to meet the market’s expectations. Veli Services chose the unorthodox B2B2C method to fulfill the Congo market’s particular requirements.
The agreement was a significant step forward for Veli Services, whose objective is to build B2B2C partnerships in the pan-African iGaming business. The collaborations are designed to ensure that African players can access high-quality games on tailored gaming platforms.
Cola Group in Nigeria and Other Countries
The Cola Group has made significant investments in the African iGaming industry. The company is headquartered in London and has offices worldwide, including Dubai. In 2021, the Cola Group announced a $14.5 million investment in Nigeria, significantly increasing its presence in Africa. Previously, the company’s operations were restricted to Kenya, Zambia, and Ethiopia.
The main goal of the Cola Group’s expansion investment was to spread its business model by making its eSports, casino games, and sports events available to more African players. The investment also enabled the company to expand its offering with a customized and adaptive game platform. Cola.bet’s fully customizable platform gives B2B partners access to a wide range of content suitable for several markets. Using the adaptation technique, gamers can gain access to promos, bonuses, and favorable betting odds.
Bet365 Group Ltd is a leading British iGaming company. The corporation is well-known for its global iGaming investments. It is particularly popular in Europe, the company’s home continent. It is also popular in the Americas, including locations where gambling is allowed in the United States.
The bookmarker in Africa allows gamers from certain African nations to access its gaming content. Players in these nations employ various deposit and withdrawal methods, including standard ATM cards. Accepting multiple payment methods is one of the most appealing elements of the African betting platform.
Betway Africa is a subsidiary of the Betway Group and one of the largest worldwide sportsbooks in Africa. The bookmarker is available in eight African countries: Ghana, Uganda, Zambia, Mozambique, South Africa, Nigeria, Tanzania, and Kenya.
Betway was honored in 2015 for having the world’s largest jackpot payment, which was recorded in the World Guinness Book of Records in 2019. Since then, the organization has quickly developed to become one of the continent’s most recognized betting investors. Soon, the company plans to expand into more prospective countries.
The rapid growth of Africa’s iGaming business attracts domestic and international investors. Recent trends indicate that the trend is gaining traction, with many organizations attempting to capitalize on the potential in video gaming, sports betting, and eSports. The trend will likely continue over the next decade as demographic, technical, and regulatory factors continue to work in the industry’s favor.