Africa
Next Brazil on the Horizon? SOFTSWISS Unveils South African iGaming Market Overview
South Africa’s iGaming market is on a remarkable growth trajectory, set to reach a total revenue of approximately EUR 64.9 million by 2028. SOFTSWISS, a leading iGaming software provider with 15 years of experience, shares the South African market report at no charge.
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. Operators must understand the nuances and explore licensing options within each region’s regulatory framework.
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 Statista (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
Regarding content preferences, the recent explosive rise of ‘сrash’ games such as Aviator underscores that the South African audience prefers simplicity and instant gratification. However, traditional casino experiences also remain in demand. Operators have responded by adapting conventional online casino game mechanics to comply with existing sports betting regulations. These numbers-style draw games resemble classic casino offerings but adhere to the legal framework as ‘betting events’.
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: “Sharing the SOFTSWISS market report, we emphasise our focus on the South African iGaming market’s potential. 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.
About SOFTSWISS
SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Casino Platform, Game Aggregator, the Affilka affiliate tracking platform, Sportsbook Platform, and Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.
This is the second contract extension between Kambi and Sunbet.co.za since the partnership was first established in 2017
Kambi, the world’s trusted sports betting partner, has announced a long-term extension to its multi-channel sportsbook partnership with Sun International, a leading African gaming and hospitality company and operator of South African betting brand Sunbet.co.za.
The latest agreement builds upon the successful collaboration in 2017 when the partnership was first established. The extension will see Kambi’s market-leading sports betting technology and services continue to power Sun International’s online sports operations. This will ensure continued support for the operator’s ongoing growth and expansion plans.
Through the extended partnership, Kambi will continue to provide Sun International with its comprehensive suite of cutting-edge sports betting technology and services, including its award-winning sportsbook platform, sophisticated pricing and trading capabilities, and its award-winning Bet Builder product. This will further empower Sun International’s Sunbet.co.za brand to maintain its position at the forefront of the South African online sports betting market.
Veena Dhesi, Kambi’s SVP Partner Success, said: “We are pleased to further extend our successful partnership with Sun International who have established themselves as one of the leaders in the African gaming industry. Since 2017, we have been proud to play a part in supporting their continued success and this long-term commitment is a testament to both the strength of our product and the level of service we can provide to our valued partners.”
Simon Gregory, Sunbet CEO, added: “Sunbet is delighted to continue our journey with Kambi. Their best-in-class sportsbook technology has been instrumental in our growth as one of South Africa’s leading online sportsbooks. This extended partnership will provide us with the technology and support we need to keep innovating while offering our customers a leading betting experience.”
The post Kambi Group plc agrees long-term sportsbook partnership extension with Sun International appeared first on European Gaming Industry News.
SOFTSWISS, a leading software supplier for the iGaming industry, announces its successful South African certification. The company has secured a Letter of Certification (LoC) from the National Regulator for Compulsory Specifications (NRCS) for its Casino Platform and Sportsbook, now certified under the South African B2B manufacture licence.
This licence was initially obtained by Turfsport, a seasoned South African software supplier with 35 years of industry experience. Earlier this year, SOFTSWISS strategically acquired a major stake in Turfsport, aligning their product portfolios. With this certification, SOFTSWISS expands its offerings in the burgeoning South African market.
Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, comments: “South Africa will be one of the key markets for SOFTSWISS in the coming years. It has immense potential, driven by increasing internet penetration, lower mobile internet costs, and affordable mobile devices. Additionally, the local audience shows a strong interest in gambling, which further supports our decision to expand here.”
According to the InfoQuest survey, sports betting is the most common form of gambling in South Africa, with people placing bets on sports about 12 times a month on average. Casino gambling and horse betting are most popular on weekends, while lottery and online betting happen throughout the week because they are easily accessible online. The survey also reveals that the average gambler engages in three different types of gambling multiple times a month, underscoring the significant role of gambling in South African society.
The recently published SOFTSWISS South African market review highlights a growing interest in esports and fantasy sports, particularly among younger, tech-savvy demographics. Statista reports that 51% of South African survey participants are interested in esports betting, while the National Gambling Board (NGB) notes that 39% are inclined towards fantasy sports betting, especially in popular sports like soccer, cricket, and rugby. These trends align with global patterns and suggest a promising future for these sectors in the region.
The comprehensive SOFTSWISS South African market review is available for free and offers valuable insights into these emerging trends.
About SOFTSWISS
SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform, and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.
The post SOFTSWISS Expands in South Africa with New Certifications appeared first on European Gaming Industry News.
Golden Matrix Group, a leading developer and licensor of online gaming platforms, systems, and gaming content, has announced that its subsidiary, Meridianbet, has been granted a sports-betting license in South Africa.
The Western Cape Gambling and Racing Board issued Meridianbet a Bookmaker License, a Bookmaker Premises License and a Manufacturer License.
These licenses will enable Meridianbet to operate online sports betting across South Africa, showcasing the company’s regulatory compliance and fit-and-proper status within South Africa’s stringent licensing regime. The Manufacturer License also permits Meridianbet to license its proprietary sports betting software within the Western Cape region.
Expansion into South Africa
“We are thrilled to enter the South African market, and this new license presents a significant opportunity for us to continue to scale our operations,” said Zoran Milosevic, CEO of Meridianbet. “Expanding our reach into South Africa will provide new opportunities to grow our user base in an entirely new jurisdiction, underscoring our ongoing commitment to growing our industry-leading brands around the world.”
A Growing Market
The South African digital gambling market has exhibited significant recent growth, with total revenue projected to reach $828.50 million by the end of 2024, according to Statista. The market is expected to grow at a compound annual growth rate (CAGR) of 5.77% from 2024 to 2029, resulting in a projected market volume of $1.1 billion.
Market Impact and Economic Contribution
This market expansion supports Meridianbet’s consistent operational growth and dedication to innovation within the global iGaming sector. The South African market is positioned as a significant player in the global landscape, with the sports-betting sector contributing significantly to the country’s economy, accounting for 50% of gross gambling revenue. In the 2023 fiscal year, gross gambling revenue (GGR) in South Africa totaled $2.42 billion, according to Moneyweb.
The post Meridianbet (Golden Matrix Group) Granted South African Sports-Betting License appeared first on European Gaming Industry News.
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