Africa’s gambling market on track to reach $11.27bn by 2032
Online gambling continues to gain ground, supported by payment innovations and partnerships between local operators and international firms.
South Africa.- Africa’s gambling market is projected to increase from US$6.10bn (€5.65bn) in 2023 to US$11.27bn (€10.45bn) by 2032, according to a report by market research firm Astute Analytica. From 2024 to 2032, the sector is forecast to expand at a CAGR of 7.06 per cent.
The report identifies several key drivers of this expansion, including the rapid rise in smartphone ownership and internet access, with Africa recording more than 520 million internet users and 300 million smartphone users in 2023. Mobile technology has also made it easier for people in remote areas to place bets, often via apps or mobile money services such as M-Pesa in East Africa.
Electronic gaming machines are also driving growth, generating more than US$1.5bn (€1.39bn) in revenue in 2023, with 100,000+ units installed across 200+ cities. However, sports betting, especially on football, remains the most popular activity, driven by the sport’s widespread appeal in countries like Nigeria, Kenya and South Africa.
Online gambling continues to gain ground, supported by payment innovations and partnerships between local operators and international firms. Offline channels, including physical casinos and betting shops, hold the majority share at about 57.61 per cent in 2023, but online options are expanding quickly among younger users aged 18 to 35, who form around 60 per cent of the participant base.
South Africa leads the continent with a 26.23 per cent market share in 2023, valued at around US$2.5bn (€2.32bn). The country has a well-established industry, with companies such as Sun International and Tsogo Sun operating both land-based casinos and online platforms.
Nigeria ranks second, with its market exceeding 730bn naira in 2023, driven by a large youth population and strong football interest; around 60 million people aged 18 to 40 engage in sports betting regularly. Kenya and Ghana also feature prominently, with betting shops common and governments adjusting regulations to capture revenue.
