Top-rated software supplier and aggregator for the online casino and sports betting world, Slotegrator, has decided to provide insight into the untapped market of Africa. Over the past few years, Africa has become an attractive option for online gambling. There are licensing opportunities in several markets that provide investment opportunities for shareholders in the gambling world.
Slotegrator has pointed out that markets like Tanzania, Nigeria, Kenya, Uganda, and South Africa are prime spots for online gambling services. Economic growth along with mobile internet has transformed these markets into investment options for the online gambling world.
Moving Forward
Sportsbooks are already in play within these markets and online casino gaming is set to be more accessible as the infrastructure for telecommunication continues to improve. The disposable income of the region’s population is also increasing, which leads to more opportunities for gaming spending.
In Zambia, Uganda, and Kenya, licensing is offered for land-based casinos, but online operators also have the ability to apply. Slotegrator feels that the unregulated markets in these areas should be reviewed for their potential.
In Kenya, a license costs €2800, while casino operators must pay €32,800 for licensing. In Uganda, foreign-owned facilities have a higher fee to pay with €60,000 in capital expected along with a security guarantee provided by the operator after the license is obtained. Casino operators owe €117,000 in fees while sports betting service operators must pay €46,000.
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 Lotteries Board are able to provide licensing to operators. The downside is that each regulator has fees that must be paid, and operators may be subject to paying double the taxes. This is an element that may keep operators from trying to offer services in this market.
South Africa allows online sports betting, but online casino games are not allowed. Provincial authorities have the ability to offer licensing and most operators choose to work with the Western Cape Gambling and Racing Board.
For sports betting operators in South Africa, the application fee and yearly fee is the same, a low €750. This makes the market very attractive due to its low fees. However, operators must pass an investigation in order to obtain a license, and this has its own fees that might be costly.
When it comes to online casino and sports betting services, Tanzania is a great option for operators. To be involved, operators must agree to invest in the country, with $300,000 set for local companies and $500,000 for foreign-based or owned operators.