Yggdrasil and Pragmatic Play make inroads into the African Gambling Market

With a growing youthful population, rising GDP and the ability and interest to leapfrog technologically, Africa has long had the opportunity to become a rising economic power and is now set to be a massive market for international corporations.

This growth can also be seen in the gambling industry with the sector carving out a significant economic niche on the continent. Kenya alone has become a cornerstone of global sportsbook betting with the country hosting 30 licensed sportsbooks and a market worth $40 million.

While sportsbook betting does hold a significant lead in the regional industry, that hasn’t scared off Yggdrasil and Pragmatic Play. These two iGaming titans have both set their eyes on South Africa as a lucrative market to capitalize on through a partnership with Intelligent Gaming, a leading supplier in the South African gaming market that now has the right to distribute both Yggdrasil and Pragmatic Play’s games.

A significant reason why the continent as a whole proves an inviting prospect for the two firms may be the rising demographic of sub-Saharan Africans with access to disposable income with this fueling a thriving market for pastimes such as gambling. The convenience of this niche is also accelerating rapidly given the fact that broadband and telecommunication access is becoming both cheaper and more convenient to use, connecting ever larger swaths of the population to the internet and compounding the growth of this burgeoning industry. The amount of Africans covered by 3G and 4G networks has doubled over the last five years with this just being the beginning of the future for the region.

In many ways, South Africa is a natural choice for any enterprising iGaming firm with many considering more active interest from the industry to be an inevitability. The country currently hosts the continent’s largest gambling market with a valuation that may reach $2.3 billion by 2023 as well as having the third-largest GDP on said continent. As is the case for most of the rest of Africa, sportsbook betting still holds a significant monopoly in the region with 24% of the revenue from the industry being derived from this specific sector. This being said, Yggdrasil and Pragmatic Play now offer an alternative for South Africans keen to take their first step into live casino games such as roulette and blackjack.

Source: maltatoday.com.mt

Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.