African emerging markets are exciting bookmakers in South Africa and grabbing the attention of industry operators and investors. However, the Republic of South Africa has long been recognized as a renowned, booming market, one that might give operators a firm foundation to build on as they expand across the continent into bet-loving countries like Nigeria and Kenya.
The betting market in South Africa
South Africa boasts the third-highest GDP on the continent, after only Egypt and neighboring sports betting hotspot Nigeria. It’s no surprise, given the country’s broad love of sports, that it’s also Africa’s largest gambling industry – South African national GGR is predicted to exceed $2.3 billion by 2023.
In 2022, how and why should you become a bookmaker in South Africa?
The land-based casino segment continues to earn the majority of this revenue. Land-based casino gaming, on the other hand, has been dropping for years, as shown in the graph below. Even before the worldwide coronavirus outbreak, during which South Africa implemented among of the world’s harshest lockdown measures, the share of GGR generated by land-based casino gambling in South Africa had been steadily declining.
In South Africa, how do you obtain a sportsbook license?
Each of the country’s nine provinces has its own gaming and betting regulating organization. The nine authorities. Each province will have its own application procedure, criteria, and papers to complete. Because of the province’s large concentration of wealth, new operators will apply to the Western Cape Gambling and Racing Board for a license.
What are the requirements for an online sportsbook?
While the license is being processed, you may begin working on the technical aspects of your online betting site.
Quality platform software is an important must. This comprises a strong and smooth-running backend that can handle enormous levels of traffic without crashing, as well as a frontend tailored to your target market’s preferences (and local language). South Africa has eleven official languages, but if you can’t offer a version of your site in all of them, English and Afrikaans will throw the largest possible net.
Of course, an online gaming platform is useless unless it has content – in this case, betting options. You’ll need live data feeds spanning a range of sports disciplines to determine odds and provide players with the up-to-the-minute information they’ve come to expect. Punters should always have a variety of events to bet on – many bettors love putting many wagers at the same time.
When it comes to payment processing, players in various locations have distinct needs. Online sportsbooks should always accept deposits and withdrawals in the local currency of their market of operation — South African Rand (ZAR) in this case — but cryptocurrencies are gaining popularity, so accepting Bitcoin or Ethereum isn’t a terrible idea.
