Exploring the growth of the online casino industry in Zambia

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The global iGaming space is packed full of emerging growth markets, particularly in the developing world. Zambia is amongst the fastest-growing, but why exactly is this the case?

We all know that the iGaming industry represents one of the biggest and fastest-growing markets in the world, but were you aware that developing nations such as Zambia were underpinning the growth of this sector?

In fact, the Zambian market has evolved considerably over the course of the last few years, both from a regulatory perspective and the fact that you can access an objective list of the best online casinos you can play in Zambia at bestcasinosites.net/zambia/.

The growth of such promising and immature markets (particularly in Africa) has driven significant expansion in the global industry, whilst creating new opportunities for established international operators. But how does the Zambian market compare with the surrounding regions, and why is this niche experiencing such significant growth?

A Glimpse of the Global Marketplace

In terms of the global iGaming marketplace, there’s no doubt that we’ve seen significant growth over the course of the last decade or more.

In fact, online gambling throughout the world is thought to have generated an estimated $75.5 billion in the year ending 2017, whilst this sector has grown to account for a staggering 69% of all global gambling revenues.

What’s more, the value of this market is expected to break the $100 million by the end of 2020, whilst the share of online gambling hubs and operators is likely to increase at a similarly exponential rate.

The Rise of the Zambian Marketplace and Similar Entities

If we accept that Zambia and a host of similarly developing marketplaces are playing pivotal roles in driving iGaming growth across the globe, the question that remains is why should this be the case?

As you can imagine, the answer to this question is multi-faceted, but it’s interesting to note that there are several common trends that define the growth in markets such as Zambia and Nigeria at present.

One of these is a broadening consumer base, which includes a growing number of Millennials and young, middle-class citizens. This has comprehensively tackled the inaccurate stereotype that the industry in Zambia was only successful in targeting lower-income earners and therefore restricted in terms of its growth potential.

This trend is also supported by a higher rate of mobile penetration, which is typical when reaching a younger customer base.

In Nigeria, the rate of mobile penetration has increased from 36% to 50% during the last three years, and a similar trend has emerged in the Zambian market during the same period.

As Zambia’s iGaming market has grown, it has also attracted considerable interest from overseas. More specifically, leading brands such as Gameloft and Intralot have strived to forge mutually beneficial partnerships with local Zambian operators, providing them with everything from high quality content to transaction processing systems and sports betting management.

Betway is one of the biggest international players to have launched in Zambia and similar nations such as Ghana, whilst also partnering with Scout Gaming (which is a reputable sports betting and fantasy sports operator).

These partnerships have helped to meet the growing demand for iGaming in Zambia, creating an incredibly diverse wealth of games (particularly slot titles) whilst also providing technological support and services.

As you can imagine, local iGaming operators are also striving to partner with a variety of mobile payment platforms, including market leaders such as Airtel and Pesa. This is critical, as it’s enabling operators to meet the demand for mobile gambling and tailor their verticals to suit the demands of various playing demographics.

In addition, betting companies are partnering with mobile payment platforms, to offer attractive bonuses on stakes, thus attracting more customers.

What Role has the Regulator Played in Driving Growth

Zambia has been traditionally known for its mining and tourism sectors, but this has changed considerably over the course of the last few years.

Fortunately, the Zambian government has reacted to this, by striving to create the type of stringent but progressive regulatory approach that has helped regions such as the UK to establish highly profitable and mature markets.

This approach has enabled the government to maintain tight control of its iGaming industry, whilst also enabling them to allow virtually all variants of online gambling. Access to the market is also reserved to players aged 18 or over, although there is still work to be done to ensure that this rule is upheld at all times.

At the heart of the market’s growth is the Zambia Casino Act, which actually came into being in 1992. This modified the existing Casino and Gaming Machines (Prohibition) Acts, and fundamentally allows licensed establishments to offer gambling verticals to people nationwide.

However, the government has yet to create a formalized set of laws relating to online gambling, and this represents the next step in creating a profitable marketplace that can sustain its growth over time.

The Last Word

The iGaming market is growing at pace across the globe, with industries in developing nations such as Zambia key to this expansion.

These countries are also moving quickly to meet the rising demand for various iGaming verticals, including online casino gameplay and virtual sports betting.

The Zambian authorities have certainly worked hard to create a well-regulated market that has experienced significant growth, whilst also developing a technological framework that allows for secure mobile gambling.

So, whilst there’s a great deal of work to be done to create a fully matured marketplace, it’s well on the way to achieving such an objective.

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Start: 2019-07-01 End: 2019-07-31