Slotegrator, a leading software provider and aggregator for the world of online casino and sports betting, decided to talk about the untapped market in Africa. Over the past few years, Africa has become an attractive destination for online gambling. There are licensing opportunities in several markets that provide shareholders with investment opportunities in the world of gambling.
Slotegrator points out that markets such as Tanzania, Nigeria, Kenya, Uganda and South Africa are the best places for online gambling, especially betting sites in Tanzania, where there is an unprecedented boom in betting. Economic growth along with mobile internet has turned these markets into investment options in the world of online gambling.
Moving forward
Bookmakers are already in use in these markets, and online casino games will become more accessible as the telecommunications infrastructure continues to improve. The region's disposable income is also increasing, opening up more opportunities for gambling spending.
In Zambia, Uganda and Kenya, licensing is offered for land-based casinos, but online operators can also apply. Slotegrator believes that unregulated markets in these areas should be analyzed for their potential.
In Kenya, a license costs 2,800 euros, and casino operators must pay 32,800 euros for a license. In Uganda, a higher fee is charged for foreign-owned businesses, as the capital is expected to be 60,000 euros, and there is a security guarantee provided by the operator once the license is issued. Casino operators must pay fees of 117,000 euros, while sports betting service operators must pay 46,000 euros.
Additional options
There are other areas where operators can offer services and apply for licensing in Africa . In Nigeria, the National Lottery Regulatory Commission and the Lagos State Lottery Board can grant licenses to operators. The downside is that each regulatory body has fees that must be paid, and operators may be required to pay double taxes. This is an element that may deter operators from trying to offer services in this market.
In South Africa, online sports betting is allowed, but online casino games are banned. The provincial authorities have the ability to offer licenses and most operators prefer to work with the Western Cape Gaming and Racing Council.
For sports betting operators in South Africa, the registration fee and the annual fee are the same - a low 750 euros. This makes the market very attractive because of the low commissions. However, operators must be investigated in order to obtain a license, and this requires additional fees, which can be costly.
When it comes to online casinos and sports betting services, Tanzania is a great option for operators. To participate, operators must agree to invest in the country: $300,000 set for local companies and $500,000 for foreign or in-house operators.