South African iGaming Market Expected to Be Worth €2.3 Billion
Online services and entertainment in South Africa are booming with high-speed internet helping to fuel one online market in the region – iGaming!
It isn’t just iGaming that is booming in the country as online gaming, social media activity, and e-commerce are all on the rise. It comes as no surprise as South Africa has the second strongest economy in the continent just behind Nigeria – both of which are seeing huge growth in iGaming activity which is predicted to reach €2.3 Billion in revenues by next year.
South Africa has never been wellknown for its gambling industry. There are only a handful of land-based casinos and legal high street betting shops available. These establishments are mostly in Johannesburg, Durban, and Cape Town while the rest of the country has no option to place legal bets in a land-based betting shop or casino aside from the odd risky and underground local operation.
Also, due to a stagnant economy, most South Africans prefer not to travel long distances to casinos where the minimum and maximum bets can be high and the cost of accommodation in a safe area can be pricey.
Instead,South Africans now take advantage of the country’s ever-improving high-speed internet connections to access a huge array of online casinos mostly owned by European based operators.
Many of these operators own several casino brands with many of them accepting South African players who can fund their casino accounts using cryptocurrencies, US$, EU€, and even better still ZAR via their credit card, debit card, eWallet, or crypto wallet. Once signed up and the account has a real money or crypto balance, a variety of betting options are available to South African players.
Just check out the Playcasino South African Casinos page where you will find a list of iGaming sites that offer players online casinos with many of these also offering sports betting on top of casino gaming.
Casino games available include blackjack, poker, baccarat, and roulette tables available as a virtual table game or via webcam that streams players directly to a live dealer or croupier where real-life action unfolds right in front of the player.
Another popular casino game that has taken South Africa by storm is video slots. Unlike the US, Australia, New Zealand, Canada, Ireland and the UK, South Africans never had the pleasure of playing slot games in bars and slot shops. Today, the iGaming industry is opening up the world of video slots gameplay to South Africans who can now play slot games with mega progressive wins, movie-based themes, and Slingo slot games which are a mix of slots and bingo.
The Rise of Internet & Mobile iGaming In South Africa
According to several reports issued by Data Reportal research, the rate of penetration for the internet in South Africa is 62% of the population which is 36.54 million; a figure that is continuously on the rise. This is a an increase of 1.1 million people (+3.1%) since 2019.
The notable increase in internet users is down to the South African government’s commitment to its communications infrastructure which aims at providing high-speed services that will reach in the most rural areas of the country starved of reliable internet connections.
In the same report by Data Reportal, there were 103.5 million mobile connections in South Africa. Since 2019, this is an increase of 3.1 million (+3.1%). However, this figure shows a total of 176% of the population which is because some people own more than one mobile device maybe for business and personal reasons.
The latter point is well worth taking note of here. Many of the online casinos that accept South African casino players are fully mobile compatible, and with such a high reat of mobile users in the country, it comes as no surprise that the South African iGaming market is set to rise in revenue.
Players can play at home on their PC or while on move via their tablet and/or smartphones by connecting to 4G or WiFi connections. With the freedom for players to choose how and where to playcasino games, the iGaming market is perfectly poised to continue to rise.
It is highly likely that future studiesinto the South African iGaming industry will likely continueto report increases in revenues as more citizens discover online casino and sports betting websites and in line with global trends for this gaming industry.