Name: Africa’s Betting Boom: Big Money, Bigger Risks | Bloomberg Next Africa
Uploaded: 2026-01-24T06:00:45+00:00
Duration: 1441 s

Speakers

Olatomiwa Babalola — Bloomberg Reporter

Loni Prinsloo — Senior Africa Reporter, Bloomberg

Neal Menashe — CEO, Super Group

Makashule Gana — Rise Mzansi MP

Garron Whitesman — Founder, Whitesmans Attorneys

Summary

Bloomberg Next Africa examines the rapid growth of Africa's gambling and sports betting industry, driven by mobile adoption, young demographics, and limited regulation. South Africa dominates the market, while global operators such as Super Group expand despite regulatory and tax uncertainties. The episode also debates consumer protection, unlicensed operators, and the need for updated gambling rules.

Africa's legal gambling revenues have surged, with South Africa, Nigeria, and Kenya leading growth.
Mobile access and football fandom are key drivers of the betting boom.
South Africa accounts for about 80% of African gambling revenues; online is now 70% of that market.
Super Group's CEO says Africa is 40% of its business and sees a large expansion pipeline.
The National Treasury's proposed 20% gambling tax raises concerns for licensed operators.
Regulators and lawmakers debate how to balance growth, tax revenue, and consumer protection.
Unlicensed online operators remain a major enforcement challenge in South Africa.

Ideas

Olatomiwa Babalola Bloomberg Reporter 1:36

Africa sports betting growth continues.

Africa is growing into a sports betting powerhouse, led by South Africa, Nigeria, and Kenya. Legal gambling revenues across the continent have reached an estimated $9 billion, driven by a young and growing population, rapid mobile technology adoption, changing consumer habits, and football's popularity. Global operators are expanding, though some remain cautious due to regulatory uncertainty, and the industry shows no sign of slowing.

Loni Prinsloo Senior Africa Reporter, Bloomberg 5:15

SA online gambling grows despite tax risk.

South Africa dominates Africa's gambling industry, accounting for about 80% of continental gambling revenues. It is growing by roughly one-third annually, with online gambling now 70% of revenues. Growth is driven by easy mobile access—'a casino in your pocket'—and very limited regulation, as the last online gambling amendment was over a decade ago. The main risk is a proposed additional 20% tax and weak enforcement that disadvantages licensed operators versus unlicensed ones.

Neal Menashe CEO, Super Group 9:49

Super Group expands Africa betting growth.

Super Group is expanding aggressively in Africa and wants podium positions in every market it operates in. Africa already makes up about 40% of its business, and the company has a large pipeline of new markets. It builds scale market-by-market with Betway and casino brands, focusing on localized products, payment mechanisms, and return on marketing spend. Management deploys capital only where returns are good and views a 15-25% tax on net gaming revenue as the optimal range; higher taxes make regulated operators uneconomical and drive customers to the black market. He also argues that building a business at scale requires regulation, as banking restrictions make it hard for black-market operators to operate legally across countries.

This Bloomberg Markets video, published January 24, 2026, features Olatomiwa Babalola, Loni Prinsloo, Neal Menashe discussing Africa sports betting market, South Africa online gambling sector, SGHC. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Olatomiwa Babalola, Loni Prinsloo, Neal Menashe · Tickers: Africa sports betting market, South Africa online gambling sector, SGHC

Africa’s Betting Boom: Big Money, Bigger Risks | Bloomberg Next Africa

Summary

Ideas

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