AFRICAN IGAMING GROSS WIN TO HIT USD 2 B IN 2024
The estimates brought by H2 Gambling Capital and iGB show that African igaming gross win will more than double in the next five years, rising from US$996.2m (£812.2m) this year to $2bn in 2024.
Africa iGaming Dashboard, prepared ahead of iGB Affiliate Africa in October, follows the evolution of the African igaming sector from 2012 with projections up to 2024.
H2, a gambling industry’s consulting, market intelligence and data company, predicts that African igaming gross win will more than double in the next five years, rising from US$996.2m (£812.2m) this year to $2bn in 2024.
Due in part to poor internet connectivity, African gaming generally remains heavily retail dominated, however, H2 predicts that igaming as a percentage of African GGR will rise from 18% this year to 24.4% by 2024.
After several years of rapid growth, mobile’s percentage of this looks set to remain relatively flat at about 63% over the next five years. It’s worth pointing out that this percentage was just 14.4% in 2012.
With countries in Africa – particularly the biggest gaming markets – increasingly moving to regulate online gambling, the white market percentage of igaming is set to increase from 83.6% this year to 89.2% by 2024.
Across both igaming and land-based gaming, casino is the most popular product in Africa, accounting for 41.9% of gross win this year.
Betting is the second most popular vertical on the continent, capturing 35.8% of the market. While land-based betting currently accounts for the highest share of the sports betting total, the estimates show that by 2024 the percentage of revenues coming from online will be almost equal at 47.9%.
Interestingly, however, the percentage of online sports betting GGR coming from mobile seems to have peaked over the past year or so, and H2 predicts this will tail off by a few percentage points over the coming years.
Similarly, the white market percentage of online sports betting revenues will rise only a few percentage points further by 2024.
H2 Gambling Capital is the gambling industry’s leading consulting, market intelligence and data team. The company has a track record of nearly 15 years focused on the global gambling industry, its projections have been influential in shaping legislators’ and investors’ views of the gambling sector across the globe.