We will see an influx of new participants in the African gaming market over the next decade, with the continent’s population expected to more than quadruple that of Europe by 2030.
A new skew in the proportion of young people:
According to figures from the United Nations and the African Development Bank, by 2030, Africa will be home to 42 percent of the world’s young. It is estimated that over 472 million people live in urban areas, with an urbanization rate of 11.3 percent, which is among the fastest in the world, and that this number will more than double over the next 25 years. Globally, according to a United Nations statistics estimate, the proportion of African urban residents is expected to increase from 11.3percent to 20.2percent by 2050. When a result, the majority of young adults in Sub-Saharan Africa (44 percent of the population, or slightly more than 450 million people under the age of 15) will acquire a mobile phone for the first time during the next decade as they enter their adolescent and adolescent years.
5G, the fifth generation of mobile wireless communication, promises to minimize network latency and improve network performance. It will breathe new life into the online gaming market by providing clients with a positive online gambling experience. On top of that, it will have a significant impact on the whole landscape of the gaming industry. When compared to the 4G network, which offers download rates of around 20mbps, it will provide greater reliability, the ability to connect numerous devices at the same time, and the capacity to transport more data due to higher speed. While the eventual 5G network will reach speeds of 500 to 1500 Mbps, it will be strategically placed to almost instantaneously connect even Africa’s gaming space. However, as the next generation of players becomes more involved in gambling activities, including as live streaming of sporting events on their mobile devices and live betting, the industry is expected to grow. The online gaming solution will see exceptional development, and it will become one of the most popular gambling options in the area. All of these factors will contribute to the expansion of the gaming space in the region and the creation of new prospects for the sector.
Penteration on a Smartphone
As previously mentioned, the Global System for Mobile Communications (GSMA) predicts that mobile phone adoption in the area would reach unprecedented levels during the next decade. Young adults in Sub-Saharan Africa will possess a smartphone device, accounting for 44 percent of the region’s population. At the same time, mobile devices will be owned by 55 percent of the overall population; these significant developments are connected to the competitive mobile marketplaces in the area, which are home to a slew of mobile enterprises. Techno, Huawei, and other companies, among others, have added a new dimension to the competitive mobile market, which has resulted in the widespread and inexpensive mobile phone marketplaces. Mobile phone penetration in Sub-Saharan Africa already accounts for 747 million SIM connections, with the number expected to rise to one billion over the next decade, according to recent data from the Global System for Mobile Communications (GSMA).
The beginning of a new era in payments
When it comes to online gambling, a new age of payment is ushered in, one that offers the freedom and flexibility to pay in the most convenient and relevant method for bettors. While operators, if they can keep up with the speed of change over the next decade, they will have tremendous potential for differentiation and competitive advantage. A seamless payment option that incorporates aspects from both conventional and digital ways will not only provide a more enhanced client experience, but it will also eventually boost customer loyalty as a result. Over the next decade, digital wallets, cryptocurrencies, and other online payment methods will be at the forefront of the African financial landscape.
What could possibly compete with sports betting?
In recent years, there has been a lot of discussion regarding the eSports sector, and whether or not it is the future of the gambling industry. At the same time, some eSports industry experts believe that the eSports ecosystem will be able to compete with the sports betting ecosystem. Some prominent executives in the industry, on the other hand, believe that regulation is a significant drawback for the eSports industry. Nevertheless, we may argue that the reasoning behind it is the reason why it has not yet realized its full potential. Nonetheless, the sector is worth billions of dollars now and has attracted a large number of viewers from all over the world. More than 380 million people worldwide tuned in to witness eSports, both online and in person, at the 2016 World Championships of the famous eSports game League of Legends.
It is, on the other hand, very popular in Asia, North America, and Europe. Africa, on the other hand, is lagging behind, and one of the challenges the industry is facing is the commercialization of the eSports industry, which includes everything from regulation to one of the most exciting aspects of the eSports sector, which is divided into two segments: cash betting, which is used by operators, and prize betting, which is used by players. Contrary to this, skin betting occurs virtually in video games; nonetheless, video games remain the more popular of the two options in Africa because they provide players with the real-life sense of being able to control their own fate. The issue is whether, over the next decade, we will see the industry at the top of the African pyramid. Time will tell whether or not this is true.