Online Casinos - Ghana | Statista Market Forecast

Revenue in the Online Casinos market is projected to reach US$26.04m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.31%, resulting in a projected market volume of US$32.02m by 2028.
In the Online Casinos market, the number of users is expected to amount to 119.5k users by 2028.
User penetration will be 0.3% in 2024 and is expected to hit 0.3% by 2028.
The average revenue per user (ARPU) is expected to amount to US$241.30.
In global comparison, most revenue will be generated United States (US$7.64bn in 2024).
With a projected rate of 35.7%, the user penetration in the Online Casinos market is highest Canada.

Definition:

The online casinos market refers to the segment of the online gambling industry that offers a range of traditional casino games, such as blackjack, roulette, baccarat, and slot machines, that can be played over the internet. Online casinos provide customers with the opportunity to play these games from the comfort of their own homes or on the go through various devices, including computers, tablets, and smartphones.

Additional Information

Data includes revenue figures in Gross Gambling Revenue (GGR), which is the total amount of bets placed by customers minus the amount paid out in winnings, Users, average revenue per user (ARPU), user penetration rate, and a breakdown of the product shares of the total online casino market. User and revenue figures represent B2C services.

Online slot machines such as Starburst, Mega Moolah, and Gonzo's Quest
Online card games such as poker, blackjack, baccarat, and their variants
Online roulette games such as European, American, and French roulette

Offline or land-based casino establishments such as casinos and gaming halls
Skill-based games such as chess, backgammon, and Go
Betting on non-casino games such as sports, politics, and entertainment.

The Online Casinos market in Ghana has been experiencing significant growth in recent years, driven by changing customer preferences and favorable local special circumstances.

Customer preferences: Ghanaians have shown an increasing interest in online casinos, as they offer a convenient and accessible way to enjoy gambling activities. The younger generation, in particular, is drawn to the convenience of being able to play their favorite casino games from the comfort of their own homes or on the go. Additionally, online casinos provide a wider variety of games compared to traditional brick-and-mortar casinos, catering to the diverse preferences of customers.

Trends in the market: One of the key trends in the online casinos market in Ghana is the rise of mobile gambling. With the increasing availability of smartphones and affordable mobile data plans, more Ghanaians are accessing online casinos through their mobile devices. This trend is expected to continue as mobile penetration rates continue to rise in the country. Online casinos are also leveraging technological advancements such as virtual reality and live streaming to enhance the gaming experience and attract more customers. Another trend in the market is the growing popularity of online sports betting. Ghanaians have a strong passion for sports, and online casinos have capitalized on this by offering a wide range of sports betting options. This trend is fueled by the increasing number of sports events and the ease of placing bets online. Online casinos are also partnering with local sports teams and influencers to further engage with customers and create a sense of community.

Local special circumstances: One of the key factors contributing to the growth of the online casinos market in Ghana is the favorable regulatory environment. The Ghana Gaming Commission has implemented regulations that ensure fair and transparent operations of online casinos, providing customers with confidence in the industry. This has led to an increase in the number of licensed online casinos in the country, attracting both local and international operators. Additionally, the growing middle class in Ghana has contributed to the development of the online casinos market. As disposable incomes increase, Ghanaians have more spending power to participate in leisure activities such as online gambling. The online casinos market provides an affordable and entertaining form of entertainment for this emerging middle class.

Underlying macroeconomic factors: The stable economic growth and increasing internet penetration in Ghana have created a favorable environment for the online casinos market. As the economy continues to expand, more Ghanaians are gaining access to the internet and are able to engage with online casinos. This has led to a larger customer base and increased revenue for the industry. Furthermore, the government's efforts to promote tourism in Ghana have indirectly benefited the online casinos market. As more tourists visit the country, they are likely to engage in online gambling activities during their stay. This influx of tourists provides an additional source of revenue for online casinos and contributes to the overall growth of the market. In conclusion, the online casinos market in Ghana is experiencing significant growth due to changing customer preferences, favorable local special circumstances, and underlying macroeconomic factors. The convenience of online gambling, the rise of mobile gambling, and the popularity of online sports betting are driving the market forward. The favorable regulatory environment and the growing middle class in Ghana are also contributing to the development of the industry. With stable economic growth and increasing internet penetration, the online casinos market in Ghana is expected to continue its upward trajectory in the coming years.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies, and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, the urban population, the usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.

As an industry seemingly built on chance, the odds of the global casino sector growing in the coming years appear a safe bet. Thanks to the ongoing legalization of gambling-related activities in many parts of the world, licensed casinos have expanded to new markets and generated record-breaking revenue figures. While the market size of the casino and online gambling industry suffered heavily during the coronavirus (COVID-19) pandemic, falling by nearly 100 billion U.S. dollars in 2020, the recovery has been steady. As of 2024, the industry’s market size totaled over billion U.S. dollars. At the center of this growth has been leading casino companies such as MGM Resorts, which alone generated 16.16 billion U.S. dollars in revenue in 2023. Online enterprises specializing in sports betting have also carved out significant chunks of the market share, with Fanduel and DraftKings both ranking as two of the most valuable gambling brands globally in 2024.