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The South African iGaming industry is experiencing a rapid growth, and will reach a revenue total of EUR 64,9 million by 2028. SOFTSWISS is a leading iGaming provider with over 15 years’ experience. They are sharing the South African Market Report at no cost.
The SOFTSWISS Report offers first-hand experience in light of Turfsport’s recent acquisition, a South African leader in wagering solutions. This article explores the peculiarities of South Africa including licensing laws, sports betting and gaming preferences.
Provincial Licensing
In South Africa, online gambling is regulated by nine provincial regulatory agencies that operate within the framework of the National Gambling Board. Each regulatory body is responsible to license various gambling activities in their province, including online sport betting. Operators should explore the licensing options available within each regulatory framework and understand its nuances.
Turfsport CEO Christian Neuberger adds that “While national legislation prohibits interactive gaming in all provinces, many provincial gaming boards took the initiative to increase fixed odds betting options over the past few years.” This has led to a dramatic increase in online gambling revenue, and gaming taxes .”
Sports Betting is a Major Driver of Interest for Esports and Fantasy Sports
The South African iGaming sector is dominated by online sports betting, which will account for approximately EUR 24,3 million in 2024. This compares to the EUR 51,000,000 expected across the entire iGaming business. Sports betting has seen a noticeable shift in market dynamics and player preferences. Horse racing, for example, has seen a slight decline in popularity, as younger audiences prefer other betting options. It remains popular among older generations, and those who have discretionary income.
South Africa’s market is growing in terms of esports betting and Fantasy Sports. Statista estimates that 51% of South Africans are interested in betting money on esports and 39% in fantasy sports.
Preferences for Gaming
The recent explosion of’srash games’ such as Aviator shows that South Africans prefer simplicity and instant gratification. But traditional casino experiences are still in high demand. Operators have adapted the traditional online casino game mechanics in order to comply with sports betting regulations. These games are similar to classic casino games but conform to the legal framework of ‘betting events ‘.
Mobile gaming is becoming more popular in South Africa, thanks to the widespread use of smartphones, affordable data packages and increasing mobile internet penetration. This trend is especially noteworthy, as most people may not have regular access to computers. To reach their audience, operators should prioritize mobile compatibility and easy-to-use interfaces.
Vitali Matsukevich (COO, SOFTSWISS) comments: “By sharing the SOFTSWISS report, we emphasize our focus on South African iGaming’s market potential. We are able to address South Africa’s specific needs with the help of Turfsport and SOFTSWISS. This report is a valuable resource for guiding our strategy and ensuring our solutions are aligned with the changing landscape of South African iGaming .”
The SOFTSWISS report provides a comprehensive view of iGaming industry in South Africa. It includes everything from the historical context to a player profile, local trends, and a detailed overview of the industry.
About SoftSWISS
SOFTSWISS, an international tech firm, provides software solutions to manage iGaming project. The team of experts, with over 2,000 members, is located in Malta, Poland, and Georgia. SOFTSWISS is a holder of a number gaming licenses, and offers iGaming solutions in a one-stop shop. The company offers a wide range of products, such as the Casino Platform and Game Aggregator. It also has the Affilka Affiliate Tracking Platform, Sportsbook Platform and Jackpot Aggregator. In 2013, SOFTSWISS introduced the first Bitcoin-optimized online casino solution in the world.
