Source: Pixabay
South Africa’s online casino games segment is projected to grow at a CAGR rate of 7.15% between 2022 and 2027, jumping from $20.69 million in 2022 to $30.05 million, according to Statista. One factor that has largely influenced this growth is in-app purchases, but the South African market still has plenty of room to grow by incorporating different technologies. In fact.
Source: Pixabay
Modern Adaptations
The online casino industry is known for adapting popular movies and television shows into slot games like Deal or No Deal and Who Wants To Be a Millionaire. However, many new films and shows have emerged in recent years that played a considerable role in determining what’s popular in the mainstream market. A recent example is HBO’s adaptation of The Last of Us. The show is ranked in the 99.9% percentile in South Africa’s drama genre. This reality presents an opportunity for South African casino developers to create a game based around the show if they can obtain the rights to use the image and name. The same goes for other popular American shows in South Africa, such as How I Met Your Mother. Online gambling is popular worldwide, and South Africa has its own unique market. That said, it would be worth following popular and emerging trends that have worked elsewhere in the world, such as incorporating live technology so players get a blend between traditional and digital
there are many other emerging trends that we are seeing in the global online gambling industry that could positively impact South Africa’s market if they are utilised.
Popular and Emerging Trends In The Online Gambling Market
Live Technology
Using live technology is a modern spin on the gambling industry, and its popularity is evident with gamblers since many online casino platforms are rolling out entire live casino divisions. While not new, live technology lets gamers experience classic games online, combining verbal communication and on-screen controls. For instance, gamblers can play live casino blackjack games with different themes, such as infinite blackjack and quantum blackjack. Either way, the same rules apply to the classic game of blackjack, but a real-life dealer will appear on the screen to hand out the cards. This immersion of real life with the digital world is something we’re seeing in several industries, not just the online gambling market, such as NFTs. For instance, with NFTs, you can digitally own a physical piece of artwork.
Cryptocurrency Payments
Like many other industries worldwide, online casinos have started to adopt cryptocurrency payments. Cryptocurrency payments increase payment times and give players an extra sense of security since no third parties regulate these transactions. Cryptocurrency payments also eliminate banking fees, allowing players to get more of their winnings. Adding this option to more South African casinos would align with the global online casino market and the South African economy. That is because cryptocurrency ownership has increased in South Africa. For example, the overall ownership rate in South Africa was around 11% in 2022.
