SOFTSWISS Unveils South African iGaming Market Overview
29 March 2024 - 2:52AM
SOFTSWISS Unveils South African iGaming Market Overview
In light of the recent acquisition of Turfsport, a leading South
African provider of wagering solutions, the SOFTSWISS report
offers first-hand practical experience. The piece explores
peculiarities distinguishing South Africa, including provincial
licensing, sports betting, and gaming preferences.
Provincial Licensing
Online gambling in South Africa is governed by
nine provincial regulatory bodies which operate
under the National Gambling Board’s framework. Each body is
responsible for licensing various gambling activities, including
online sports betting, in their provinces.
Christian Neuberger, CEO at
Turfsport, adds: “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.”
Sports Betting as a Major Driver with
High Interest in Esports & Fantasy Sports
Online sports betting remains a major
driver of the South African iGaming market. In 2024, this
sector's estimated volume is approximately EUR 24.3
million out of ~EUR 51 million expected for the whole
iGaming industry. At the same time, sports betting is experiencing
a notable shift in player preferences and market dynamics. For
example, the horse racing popularity has decreased
slightly, with younger audiences favouring other betting
options. However, it remains a valued tradition among older
generations and those with discretionary spending power.
Esports betting and fantasy sports are growing
segments within the South African market. According to YouGov
(2021), 51% of South African survey participants are
interested in betting on esports, and 39% express interest in
playing fantasy sports for money. In this aspect, South
Africa outperforms the United Kingdom, the United States, Brazil,
India, Argentina, Mexico and Denmark.
Gaming Preferences
The recent explosive rise of ‘сrash’ games
underscores that the South African audience prefers
simplicity and instant gratification. However, traditional
casino experiences also remain in demand.
With the increasing mobile internet penetration,
more affordable data packages, and widespread smartphone usage,
more people in South Africa are turning to mobile gaming. This
trend is particularly noteworthy because most of the
population may not have regular computer access.
Operators should prioritise mobile compatibility and user-friendly
interfaces to reach the audience effectively.
Vitali Matsukevich, COO at
SOFTSWISS, comments: “With SOFTSWISS’ expertise in iGaming
and Turfsport’s local market knowledge, we are set to effectively
address the specific needs and opportunities in South Africa. The
insights from this report are instrumental in guiding our
strategies and ensuring that our solutions are well-aligned with
the evolving landscape of South African iGaming.”
Overall, the SOFTSWISS market report offers a
comprehensive overview of iGaming in South Africa, from the
historical context of industry development to a detailed player
profile and local trends.
Media Contact:Pavel
Mikhaleniapavel.mikhalenia@SOFTSWISS.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7c37aed8-22db-44b5-b7f3-e23107248413