SoftSwiss Unravel Perspective of South African iGaming Market

SoftSwiss, a top-notch provider of turnkey solution, has just presented its Africa-related report. Based on it, the iGaming market in the region is set to reach new heights with the projection of €64.9 million by 2028. You can access this report for free at the brand’s website.

Details on the Disclosure

Based on the latest report by SoftSwiss, it’s worth mentioning that provider addressed particularities of the market, its licensing process, sports betting market and gaming options.

First off, we’ll take a quick look at provincial licensing. There are nine provincial bodies in the region and they all work under the National Gambling Board rules. As a result, each authority is entitled to issue licenses for certain activities such as gambling and sports betting. In addition, operators have to comprehend the intricacies of the market and unravel licensing opportunities with every single region

Commenting on the current situation in the market, Christian Neuberger, CEO at Turfsport said:

“While national legislation continues prohibiting interactive gaming nationwide, several provincial gaming boards have taken the initiative in recent years to expand fixed odds betting options. This development has significantly enhanced the appeal of online betting, resulting in a sharp increase in iGaming revenue and the generation of gaming taxes”.

Huge Interest in Sports Betting and Esports

When it comes to sports betting wagering, it remains at the forefront of the iGaming sector in South Africa. According to projections for 2024, it will generate EUR 24.3 million out of EUR 51 million. However, it’s also important that sports betting is going through significant shifts when it comes to customers’ preferences and market demand.

One of the real examples is horse racing. It used to be popular but than younger players switched to other options, significantly reducing its demand. Still, it remains one of the favorite hobbies for older punters who prefer something powerful and reputable.

As for other categories, the interest for esports and fantasy betting has increased in South Africa. This is further confirmed by Statista research where it was claimed that around 51% of respondents expressed interest in esports betting while 39% showed interest for fantasy betting.

On this matter, South Africa has suppressed major markets such as the United Kingdom, Mexico, Brazil, Argentina, United States, and more.

What About Gaming Interest in South Africa

Apart from broad interest in sports wagering and esports options, there is a robust interest in gambling opportunities. One of the options that experienced significant popularity is crash game. Aviator is one of the most demanded games which clearly shows that players prefer instant awards and simple gameplay. However, traditional gaming options still remain important choice among local users.

Operators in South Africa have responded to the increased interest of users by installing traditional casino gaming mechanics which simplifies compliance with current sports betting rules.

Finally, local players showed bigger interest for mobile gaming while many of them spend more time on small devices. This is also a good sign for operators to optimize their gaming experiences for smartphones.

Source:

“SOFTSWISS Unveils South African iGaming Market Overview”, softswiss.com, March 14, 2024.