iGaming Opportunities in Cameroon

Cameroon is a lower-middle-income country located in sub-Saharan Africa with a strategic location that makes the country gateway into the landlocked region of Central Africa. iGaming betting and gambling is legal and regulated by the office under the Ministry of Finance; there is a series of bookmakers offering iGaming betting and casino gambling for the young Cameroonians.

Even though, the retail form of betting and gambling is still widely accepted among young Cameroonians. Yet the recent digital infrastructure development and access to technology such as mobile phones and financial inclusion thanks to Fintech space seeing mobile money and card payment as the dominant means of payment which 96 percent of all transactions in Cameroon use this payment method. This as capture those in Cameroon’s remote and rural areas, this payment method is fueling the recent growth of iGaming betting and gambling in Cameroon. The drive has been attributed to the authorities by providing enabling business opportunities for different economic sectors. While Adopting digital services, such as e-commerce space and the iGaming industry is no exception, position it as an immense potential for the iGaming business in the couple of years to come.

In contrast, the testament has been seeing the rapid expansion of broadband connections in Cameroon. There are 7.87 million internet users in Cameroon in 2020, which increased by 570 thousand (+7.8%) between 2019 and 2020. The internet stood at 30% penetration, about 3.70 million Cameroonians are on social media, at approximately a 14% penetration rate. At the same time, 23.62 million mobile adoptions rate equivalent to 90%of the country’s total population. The statistics also show Cameroon has one of the highest smartphone users in West Africa, about 72% of the people, 3.7 million mobile adoptions within a year. Even though Cameroon’s iGaming industry is yet a full-blown iGaming market, just like in notable gambling markets in Africa but over the years, iGaming regulations still have gotten minimal attention through the authorities. Though the authorities have met setbacks in recent years, it has proposed new gambling laws making a consistent effort to update the 2004 regulations. This has giving room for offshore sites to target players in Cameroon.

Interestingly the substantial gaming tax for gaming operators or investors interested in the Cameroon gaming business includes an annual gaming fee of 2.2% turnover, redistribution to players 65% Indirect 0.03 for 0.68, Ticket price+ VAT 5.9, Commission Retail 4% Software Provider 5.9% Gross Margin on activity 19.20%. Still, as mentioned, allows forms of iGaming betting and gambling legal in Cameroon.

Meanwhile, the access to the internet and mobile device penetration, especially smartphones in Cameroon, cut the attention of top European iGaming brands such as 1xbet, 22bet, and BetWinner to be operational and operate gambling business Cameroon. There are currently over 25 licensed gaming operators, with some offering retail gambling businesses, with the majority in Doula and Yaounde.

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