SPORTS BETTING GROWING IN SOUTH AFRICA
12th June, 2013 at 03:23:48
Mobile and online channels are playing an increasingly important role in growth
The South African branch of sports betting technology provider BetTech Gaming says that mobile and online gambling is playing an increasing role in the growth of South African sports betting, and presents brick and mortar gambling groups with the opportunity to extend operations and increase revenues.
The company references a study by professional services firm PwC, which forecasts that sports betting turnover in South Africa will grow from an estimated R17 billion last year to R24.2 billion in 2016 - a significant increase from 2007 when the figure was around the R 10 billion mark.
The PwC report notes that the opening of legal online sports betting outlets in 2011 in South Africa led to "a surge in turnover" in the overall sports betting market.
Online casino gambling is not yet legal in Africa's biggest economy, but land gambling groups have recognised the potential of online sports betting, with Sun International recently moving to acquire Powerbet Gaming, the owner of Voltbet (see previous reports).
Justbet.co.za and Bet.co.za are two South African owned sports betting websites that use the BetTech technology, says chief operating officer Mark Bosman, who reveals that his company has also signed deals in three other African nations.
Bosman says that the growth of mobile accessibility, and in particular in-play wagering, has been a growth driver in African sports betting.
"We see a massively growing trend around web, mobile and live in-play betting, typically around sports such as football," he told Business Day this week. "We have seen that there is massive demand and a growth trend happening in South Africa and Africa for these sorts of products".
BetTech Gaming is funded by 4Di Capital, which was founded by Columbus VC S.A. (a subsidiary of Luxembourg listed investment company Reinet Investments S.C.A.). 4Di Capital's South African investment advisor is headed by South African businessmen Justin Stanford and Erik van Vlaanderen.
Related News Tags: South Africa