Want to be an online casino tycoon? Experts are most optimistic about this market in 2023!
The online casino industry is undoubtedly one of the most promising industries today. With the loosening of laws and regulations around the world and the advancement of Internet technology, the industry is steadily growing at an astonishing rate. Do you also want to join this industry, build an online casino and have your own business? Perhaps the African market will be one of your best considerations. Let’s hear why the experts are so optimistic about the prospects of the online gaming industry in Africa.
• In 2022, the output value of the gaming industry in Africa have exceeded US$2 billion
Ron Mendelson, director of Fast Offshore, an international business, and corporate consulting service company, has extensive experience in online gaming licensing, payment, and gaming-related industries. He recently published his observations on industry trends in his column. However, there is still a lot of room for development.
• Smartphone penetration will increase
According to Ron Mendelson’s analysis, the number of people using smartphones in Africa is less than 700 million, and the penetration rate is about 65%, which also means that there is huge room for future growth. Especially in countries such as South Africa, Madagascar, Zimbabwe, Botswana, Mauritius, and Togo, 5G network services have been launched one after another.
• Legal gaming markets are not uncommon in Africa
At present, the online casino industry can be said to be booming in some countries in Africa, such as Nigeria, Tanzania, Ghana, and Uganda, which have formulated relevant laws for the online gaming industry. Operators can apply to their regulatory agencies’ licenses for online casinos and sports betting. These both generate substantial tax revenues for the country and are bound to affect the perception of the online casino industry in other countries.