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.

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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

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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.

OdiBets, one of Africa’s largest and most trusted betting operators announces new partnership with leading B2B games provider and acquisition and retention specialists, Incentive Games.

Through this collaboration, Incentive Games will integrate their bespoke Velocity crash games system to OdiBets’ platform, launching in the summer of 2024.

The launch will encompass a dynamic mix of gaming options, including:

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• Free-to-play Velocity crash game: This engaging format will allow players to experience the excitement of crash gameplay without financial risk.
• Several pay-to-play crash games: OdiBets’ customers will have access to a selection of thrilling pay-to-play crash games, offering a chance to win cash prizes.

Incentive Games’ expert developers have meticulously crafted this suite to seamlessly align with OdiBets’ platform, guaranteeing a smooth player experience. Once live, the Incentive Labs team – a dedicated group of R&D, data, and AI specialists – will work behind the scenes to analyse user behaviour and preferences. This allows for ongoing optimisation and personalisation, ensuring OdiBets’ players receive the most engaging and rewarding crash game experience.

John Gordon, CEO of Incentive Games, said, “We are delighted to partner with OdiBets, a leading force in the African gaming market. Their commitment to providing an exceptional player experience aligns perfectly with our vision at Incentive Games. We’re confident that our innovative crash games will provide an entirely new level of entertainment and help solidify their position as a top gaming destination in Africa.”

Wilson Gichuki, Head of Product at OdiBets, said, “We are thrilled to join forces with Incentive Games. Their expertise in gamification will significantly enrich our platform, offering our users more interactive and enjoyable betting experiences. This alliance aligns with Odibets’ goal to deliver cutting-edge gaming solutions and diversify its entertainment options for its customers and the gaming industry.”

SCCG Management, a leading advisory firm in the global gaming industry, announced the appointment of Joseph Oyekunle as the new SCCG Africa Continent Manager. This strategic move further solidifies SCCG Management’s commitment to the dynamic and rapidly evolving African market.

Joseph Oyekunle is a seasoned professional in iGaming sales and business development, with extensive experience across both B2B and B2C business models in Africa, Europe, and other regions. A self-motivated and target-driven individual, Joseph excels in sales, business development, and account management. With a robust global knowledge and a wealth of experience working with gaming providers in Africa and Europe, Joseph brings invaluable expertise to SCCG Management.

Stephen Crystal, Founder and CEO of SCCG Management, said: “We are thrilled to welcome Joseph Oyekunle to our team. His vast experience and deep understanding of the iGaming industry perfectly align with our mission to deliver unparalleled expertise and innovative solutions to our clients. We are confident that under Joseph’s leadership, SCCG Africa will achieve remarkable success.”

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SCCG Management is renowned for its comprehensive suite of services, including Go-To-Market strategies, market penetration and expansion, strategic partnerships, and operational assessments. With over 100 best-in-class client partners specializing in iGaming, Sports Betting, Sports Marketing and Gaming Technologies, SCCG operates offices in each global region, delivering valuable insights, expertise and opportunities. The firm’s commitment to innovation and excellence has been instrumental in shaping and investing in the future of the gaming industry.

Joseph Oyekunle said: “It’s my great pleasure to be part of the amazing team at SCCG as the African Continent Manager. I am eager to contribute my expertise and drive the growth of the company in this vibrant market.”