Online Sports Betting - Africa | Statista Market Forecast

Revenue in the Online Sports Betting market is projected to reach US$855.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.46%, resulting in a projected market volume of US$1.10bn by 2028.
In the Online Sports Betting market, the number of users is expected to amount to 4.0m 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$253.00.
In global comparison, most revenue will be generated Australia (US$9.76bn in 2024).
With a projected rate of 48.9%, the user penetration in the Online Sports Betting market is highest Canada.

Definition:

The online sports betting market refers to the segment of the online gambling industry that involves placing bets on various sports events over the internet. This includes a wide range of sports, such as football, basketball, baseball, horse racing, tennis, and many others. Online sports betting allows customers to place bets on the outcome of sporting events in real-time, either before or during the event. These bets can be placed through various online platforms, including websites and mobile apps, which are often operated by licensed online sportsbook operators.

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 revenue shares of the total betting market. User and revenue figures represent B2C services.

Online sports betting on various sports such as football, basketball, tennis, cricket, golf, etc.
Esports betting on sports simulation games such as FIFA, NBA 2K, and Madden NFL
Proposition betting on specific events or outcomes in a sports game

Offline or land-based sports betting establishments such as sportsbooks and race tracks
Betting on non-sporting events such as politics, entertainment, and reality TV shows
Illegal or unlicensed online sports betting websites or apps.

The Online Sports Betting market in Africa has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Africa have shown a growing interest in online sports betting due to its convenience and accessibility. With the widespread use of smartphones and the increasing availability of internet connectivity, more people have access to online platforms, allowing them to place bets on their favorite sports events anytime and anywhere. Additionally, the popularity of sports, such as soccer, rugby, and cricket, in Africa further fuels the demand for online sports betting.

Trends in the market: One of the key trends in the online sports betting market in Africa is the rise of mobile betting. Mobile devices have become the primary means of accessing the internet for many Africans, and online sports betting operators have capitalized on this trend by developing user-friendly mobile apps and mobile-optimized websites. This allows customers to place bets on their mobile devices, making it more convenient and accessible. Another trend in the market is the increasing adoption of live betting. Live betting allows customers to place bets on sports events while the game is in progress, adding an element of excitement and engagement. This trend has gained popularity in Africa, as it enhances the overall betting experience and provides an opportunity for customers to make quick and informed decisions based on the game's progress.

Local special circumstances: Africa has a vibrant sports culture, with passionate fans supporting their favorite teams and players. This enthusiasm for sports translates into a strong demand for online sports betting, as fans seek to further engage with their favorite sports events. Additionally, the lack of alternative forms of entertainment and limited access to physical sports betting locations in some areas make online sports betting an attractive option for African customers.

Underlying macroeconomic factors: The online sports betting market in Africa is also influenced by underlying macroeconomic factors. Economic growth and rising disposable incomes in some African countries have contributed to increased consumer spending, including on leisure activities like online sports betting. Furthermore, the growing middle class in Africa has created a larger customer base for online sports betting operators, as more individuals have the financial means to participate in such activities. In conclusion, the Online Sports Betting market in Africa is experiencing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The convenience and accessibility of online sports betting, the rise of mobile betting, the increasing adoption of live betting, the passion for sports in Africa, and the underlying economic growth in some countries all contribute to the development of the market.

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.

Sports betting is a type of gambling that refers to the activity of placing a wager on the outcome of a sporting event. Events on which wagers are made could be anything from more traditional activities like horse or dog racing to sports such as soccer and American football. Bets are typically made through bookmakers, also known as sportsbooks. These operate both as land-based establishments, for example, at casinos or betting shops, and online. The total amount of money wagered by bettors is known as a handle, while the amount of money earned by a sportsbook after paying out the winners is revenue. In 2022, the sports betting and lottery market size worldwide amounted to 235.46 billion U.S. dollars.