A number of markets are coming to the forefront of the iGaming world at the same time — including India and several African markets. What prospects await investors in these markets? Slotegrator and its partners share some significant insights.
According to Statista, India has a rapidly expanding gaming market that has grown to $3.1 billion. In 2024, it’s estimated that the revenue in the African online gambling market will hit $1.85 billion.
Emre Goktas, Revpanda Co-Founder & CEO, comments: “Both the African and Indian gambling markets offer significant potential for investors, but tapping into this potential requires more than just market analysis. It demands hands-on experience and an understanding of local dynamics. For example, in India, cricket betting is a major draw for players. However, many companies struggle in these markets due to a lack of insight and preparation. Success depends on developing tailored strategies and assembling teams with the right expertise. With careful planning, investors can unlock opportunities in these growing markets while minimizing risks.”
Let’s delve into some details about these two emerging markets.
India
The gaming industry is one of the fastest-growing segments of the Indian media and entertainment sector. The key to the country’s high revenues is its population: India is home to more than 1.4 billion people. According to studies, 80% of the adult population gamble at least once a year, and 82 out of every 100 people use mobile phones.
Despite the enormous population and high demand for gambling, the average Indian player is not wealthy, and the most common strategy here is to go for volume — bringing in large crowds of bettors who place low-value bets, but plenty of them. Of course, attracting traffic at this scale requires a good marketing strategy and localization.
First of all, Indians are active mobile phone users. Slotegrator’s experience has shown that offering mobile games and adjusting your website to portrait orientation is a must in 2024.
The Slotegrator team expects the market to develop even more, and with the use of cryptocurrencies, nothing will stop local players from using international gambling platform services.
Recently Slotegrator expanded into India with online casino and sportsbook Betnwin, which now has access to unlimited gaming content with Slotegrator via APIgrator. To find out more insights about the Indian market, explore Slotegrator Academy.
Kenya
Now let’s focus on the market that ranked third in Sub-Saharan Africa behind South Africa and Nigeria — Kenya. Kenya also leads the region when it comes to the number of young bettors — younger Kenyans spend much more on gambling than their peers in other African nations.
Gambling, in general, is completely legal in Kenya. However, the legal landscape is far from simple. The most significant recent change is the introduction of the Kenya Gambling Control Bill 2023, which aims to overhaul the gambling industry.
The Kenyan gambling market is enormous, projected to reach a value of nearly $100 million in 2024. Kenya is a market with a lot of potential, but it requires caution and a well-thought-out business plan to be commercially successful in the region.
Another thing that sets Kenya apart from other African markets is access to technology. Kenya has a very high internet penetration rate for an African country — 40.8% — and a vast majority of internet users in the country do so from mobile devices. This rapid digitalization has triggered explosive growth in the online gambling sector.
In recent years, large casino businesses have transitioned online, opening up a vast array of opportunities.
The thriving casino market almost matches the popularity of betting.
Kenya is a market with a lot of potential, but it requires caution and a well-thought-out business plan to be commercially successful in the region.
To learn more about how to enter the Kenyan market, read this article at Slotegrator Academy.
Naman Bajaj, Senior Sales Manager, concludes: “The Indian and African iGaming markets are vibrant landscapes, each rich with unique cultural flavors and untapped potential. Thankfully, we’ve reached a stage where we have a wealth of local knowledge at our fingertips. Now is the time to dive into the market.”