- The online betting business in Africa has continued to be on the rise as more people gain access to cell phones and the internet.
- Online gambling made over $500 million in 2018 in Africa.
- The Newgioco Group will now offer its internet betting services to the African people through five new deals made in different areas of the country.
BOCA RATON, Fla. - Africa has embraced online gambling wholeheartedly and the internet gaming company, Newgioco Group, has gone all-in on the African market with their betting products.
The main draw will be a sports betting platform because, based on past revenue dollars from that industry, the people of Africa love sports and wagering on them. Since more of the country has received access to the internet, the online gaming market has soared.
The company is getting in on the ground floor as the online sports betting and gambling scene in Africa is fairly recent and only expected to gain in popularity. With many sports worldwide being suspended due to the Coronavirus, this is the perfect time for a company like Newgioco to enter their business into the mix.
Not only will they begin profiting while the sporting world is on hiatus with their various other gambling options, but they will also be front and center when professional sports return.
This allows them to be open to a huge financial stream in Africa through the use of their gaming products.
"The recent suspension of live sports events around the world has given rise to greater demand for non-sports online entertainment products. As an alternative to live sports, the superior technology of our Virtual Generation virtual sports and games provide a highly entertaining solution for gaming operators, and further reflects the strength of our diversified product portfolio," said Michele Ciavarella, Company Chairman and CEO of Newgioco.
"As part of executing our global diversification plans, we are taking both our virtual and real sports solutions to many of the largest betting regions in the world. Africa is one of the fastest growing and most exciting regions in the global online gaming market with gross gambling revenue that reached approximately $500 million in 2018 and expected to grow to approximately $820 million by 2025. This growth is driven in large part by a rise in the availability of online sports betting and African’s passion for sports. By establishing a foothold in the region, we are positioning Newgioco to capture a meaningful share of gaming revenue in Africa."
Newgioco products that will be available in regulated areas of the continent for African bettors and will include virtual sports betting which is common among online sportsbooks and their Color Lotto game.
With their Virtual Generation (VG) technology, they are currently developing new games that will be offered in Africa as well. Games like keno and American Roulette and a wide array of others are in the works.
VG was able to get five separate deals throughout Africa for their gambling endeavors. The first location opened in Kenya in early March. VG technology will help retail establishments in the country to expand their gaming businesses with the use of their virtual products.
With the internet becoming more available in Africa and more of the population having cellphones for mobile betting, Newgioco will be able to help the growth of online sports betting and gambling markets in various African countries exponentially while profiting themselves from their new agreements.