iGaming market of South Africa is on a remarkable growth trajectory. It is set to reach a total revenue of approximately EUR 64.9 million by year 2028. SOFTSWISS is a leading iGaming software provider with 15 years of experience. The South African market report has shared this information at no charge.
Turfsport is a leading South African provider of wagering solutions. The SOFTSWISS report offers first-hand practical experience. In light of the recent Turfsport purchase, the piece explores oddities distinguishing South Africa. It includes provincial licensing, sports betting, and gaming preferences.
Nine provincial regulatory bodies govern online gambling in South Africa. These operate under the framework of National Gambling Board. Each body is responsible for licensing different gambling activities. This includes online sports betting in their provinces. Operators must understand the nuances and explore licensing options within each regulatory framework of the region.
The CEO of Turfsport Christian Neuberger added that while national legislation continues prohibiting interactive gaming nationwide, several provincial gaming boards have taken the initiative in recent years to expand fixed odd betting options. This development has significantly enhanced the appeal of online betting, resulting in a sharp increase in iGaming revenue and the generation of gaming taxes.
In the South African iGaming market, online sports betting remains a major driver. The estimated volume of this sector is around EUR 24.3 million out of the EUR 51 million expected for the whole iGaming industry this year. At the same time, sports betting is experiencing a remarkable shift in player preferences and market dynamics. For example, the horse racing popularity has decreased slightly because younger audiences favoring other betting options. Nonetheless, it remains a valued tradition among older generations and those with optional spending power.
Within the South African market, eSports betting and fantasy sports are growing segments.