NIGERIA ONLINE Does Nigeria really have the biggest gambling industry in Africa? 1 year ago Szarlot Post Views: 240 With a population of over 200 million people, a large percentage of whom are neck deep into betting waters, it would be easy to assume that Nigeria has the biggest gambling industry in Africa. But is that really the case? Nigeria is comfortably ranked amongst the top three gambling nations in Africa, with South Africa and Kenya being the other two countries on the list, but the order of arrangement varies depending on the metrics you are considering. In terms of sheer number of bettors, there is really no competition. The Nigerian population is more than two times larger than that of South Africa and Kenya, and therefore has more gamblers than these other countries. In fact, it is estimated that over 60 million adult Nigerians are involved in sports betting. This is roughly the entire population of South Africa, and more than the 54 million people living in Kenya. However, when discussing gambling markets, population is just one of many metrics considered, and definitely not the most important factor. It is usually about how much money is being generated and circulated in the industry, and that is where Nigeria falls short. In terms of Gross Gaming Revenue, South Africa is the clear leader in Africa, with the country said to control a massive 40% of the market. South Africa’s gaming revenue is projected to cross the $5 million mark by the end of 2023. South Africa may have a lower population than Nigeria, but the country more than makes up for this with its stronger economy and high GDP per capita. On the average, South African bettors have a much larger staking power than their Nigerian counterparts. It also helps that South Africa has a more developed casino industry. While Nigeria is still heavily dependent on sports betting and lottery, SA is very big on casinos- the biggest gambling vertical in the country. And given that casino players are generally higher rollers than sports bettors and lottery players, the SA industry is able to generate more money. Another metric that may be used to weigh the size of a gambling market is the number and type of operators in the country. Nigeria has quite a few lotteries going around, but there are only about 50 sports betting operators. Kenya is particularly strong in the sports betting business, especially in their online space. According to betting affiliate giants, My Betting Sites Kenya, there are more than 80 licensed betting companies in the East African nation. Kenya also has arguably the best financial inclusion in all of Africa, majorly thanks to the MPesa mobile money platform. This has made it extremely easy for the entire population to send and withdraw money gambling operators. About Post Author Szarlot I am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. See author's posts SzarlotI am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. Facebook Twitter LinkedIn Email Print Tags: gambling industry, Nigeria, sports betting Continue Reading Previous Safest Betting Apps for Nigerian PlayersNext Meet the Real Owner of Baba Ijebu More Stories ONLINE UGANDA Elevate Your Gaming Experience with the Buffalo Slots Mobile App 13 mins ago Tools ONLINE SOUTH AFRICA SOFTSWISS unveils South African iGaming market overview 1 day ago Samuel HOT NEWS ONLINE How has Cryptocurrency Changed the World of Casinos 1 day ago Samuel LOTTERIES NIGERIA Nationwide league signs N964m sponsorship deal, unveils technical partners 1 day ago Szarlot ONLINE WORLD NEWS Pragmatic Play further expands LatAm footprint by going live with Betsala 1 day ago Iwo Bulski NIGERIA ONLINE Can Lagos become Africa’s gaming hub? 1 day ago Szarlot EXPERTS NIGERIA Africa Surges to Become Third Largest E-gaming Market With 186M Players 4 days ago Samuel BETTING NIGERIA PalmPay And BetKing Promote Responsible Gaming In Nigeria 4 days ago Samuel ONLINE SOUTH AFRICA WA.Technology Unveils Next-Gen iGaming Solutions at BiG Africa Summit 2024 5 days ago Szarlot ONLINE WORLD NEWS Pragmatic Play Bolsters African Market Presence Through Betfounders Collaboration 5 days ago Iwo Bulski EXPERTS NIGERIA Binance executives detained in Nigeria 5 days ago Samuel ONLINE WORLD NEWS Slotegrator Partners with Turbo Sportsbook 6 days ago Tools Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.