{"id":63734,"date":"2024-03-28T16:09:07","date_gmt":"2024-03-28T16:09:07","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=121058"},"modified":"2024-03-28T16:09:07","modified_gmt":"2024-03-28T16:09:07","slug":"softswiss-unveils-south-african-igaming-market-overview","status":"publish","type":"post","link":"https:\/\/southafricagazette.com\/softswiss-unveils-south-african-igaming-market-overview\/","title":{"rendered":"SOFTSWISS Unveils South African iGaming Market Overview"},"content":{"rendered":"
iGaming in South Africa<\/h5>\n
\n
\"\"<\/a><\/p>\n

iGaming in South Africa \u2013 Market Overview by SOFTSWISS<\/p>\n<\/div>\n<\/div>\n

South Africa\u2019s iGaming market is on a remarkable growth trajectory, set to reach a total revenue of approximately EUR 64.9 million by 2028. SOFTSWISS, a leading iGaming software provider with 15 years of experience, shares the\u00a0<\/strong>South African market report<\/u><\/strong><\/a>.<\/strong><\/p>\n

GZIRA, Malta, March 28, 2024 (GLOBE NEWSWIRE) — In light of the recent\u00a0acquisition of Turfsport<\/u><\/a>, a leading South African provider of wagering solutions, the\u00a0SOFTSWISS<\/a>\u00a0report offers first-hand practical experience. The piece explores peculiarities distinguishing South Africa, including provincial licensing, sports betting, and gaming preferences.<\/p>\n

Provincial Licensing<\/strong><\/p>\n

Online gambling in South Africa is governed by\u00a0nine provincial regulatory bodies<\/strong>\u00a0which operate under the National Gambling Board\u2019s framework. Each body is responsible for licensing various gambling activities, including online sports betting, in their provinces.<\/p>\n

Christian Neuberger, CEO at Turfsport<\/strong>, adds: \u201cWhile national legislation continues prohibiting interactive gaming nationwide, several provincial gaming boards have taken the initiative in recent years to expand fixed odds betting options. This development has significantly enhanced the appeal of online betting, resulting in a sharp increase in iGaming revenue and the generation of gaming taxes.\u201d<\/p>\n

Sports Betting as a Major Driver with High Interest in Esports & Fantasy Sports<\/strong><\/p>\n

Online sports betting remains a major driver of the South African iGaming market.<\/strong>\u00a0In 2024, this sector’s estimated volume is approximately\u00a0EUR\u00a024.3 million out of ~EUR 51 million<\/strong>\u00a0expected for the whole iGaming industry. At the same time, sports betting is experiencing a notable shift in player preferences and market dynamics. For example, the\u00a0horse racing popularity has decreased slightly, with younger audiences<\/strong>\u00a0favouring other betting options. However, it remains a valued tradition among older generations and those with discretionary spending power.<\/p>\n

Esports betting and fantasy sports are growing segments within the South African market. According to YouGov (2021),\u00a051% of South African survey participants are interested in betting on esports, and 39% express interest in playing fantasy sports for money.<\/strong>\u00a0In this aspect, South Africa outperforms the United Kingdom, the United States, Brazil, India, Argentina, Mexico and Denmark.<\/p>\n

Gaming Preferences<\/strong><\/p>\n

The recent explosive rise of \u2018\u0441rash\u2019 games underscores that the\u00a0South African audience prefers simplicity and instant gratification.<\/strong>\u00a0However, traditional casino experiences also remain in demand.<\/p>\n

With the increasing mobile internet penetration, more affordable data packages, and widespread smartphone usage, more people in South Africa are turning to mobile gaming. This trend is particularly noteworthy because most of the\u00a0population may not have regular computer access<\/strong>. Operators should prioritise mobile compatibility and user-friendly interfaces to reach the audience effectively.<\/p>\n

Vitali Matsukevich, COO at SOFTSWISS<\/strong>, comments: \u201cWith SOFTSWISS\u2019 expertise in iGaming and Turfsport\u2019s local market knowledge, we are set to effectively address the specific needs and opportunities in South Africa. The insights from this report are instrumental in guiding our strategies and ensuring that our solutions are well-aligned with the evolving landscape of South African iGaming.\u201d<\/p>\n

Overall, the\u00a0SOFTSWISS market report<\/u><\/a>\u00a0offers a comprehensive overview of iGaming in South Africa, from the historical context of industry development to a detailed player profile and local trends.<\/p>\n

Media Contact:
\n<\/strong>Pavel Mikhalenia
\n
pavel.mikhalenia@SOFTSWISS.com<\/a><\/p>\n

A photo accompanying this announcement is available at\u00a0https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/7c37aed8-22db-44b5-b7f3-e23107248413<\/a><\/p>\n

GlobeNewswire Distribution ID 9081043<\/p>\n","protected":false},"excerpt":{"rendered":"

iGaming in South Africa South Africa\u2019s iGaming market is on a remarkable growth trajectory, set to reach a total revenue of approximately EUR 64.9 million by 2028. SOFTSWISS, a leading iGaming software provider with 15 years of experience, shares the\u00a0South African market report. GZIRA, Malta, March 28, 2024 (GLOBE NEWSWIRE) \u2014 In light of the [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,97],"tags":[],"yoast_head":"\nSOFTSWISS Unveils South African iGaming Market Overview - South Africa Gazette<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southafricagazette.com\/softswiss-unveils-south-african-igaming-market-overview\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SOFTSWISS Unveils South African iGaming Market Overview - South Africa Gazette\" \/>\n<meta property=\"og:description\" content=\"iGaming in South Africa South Africa\u2019s iGaming market is on a remarkable growth trajectory, set to reach a total revenue of approximately EUR 64.9 million by 2028. 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