Nigeria may be the only current market in which Super Group’s Betway Africa doesn’t hold a podium position, but that could change soon.
Regulatory issues had caused Betway Africa to reduce its operating business in Nigeria, but the company is now “very excited” about the market’s potential.
This is partly down to increased clarity on regulatory issues, with a November 2024 Supreme Court ruling seemingly ending the conflict between states and the federal government on who should regulate gaming, in favour of the states.
Nigeria’s population of over 235 million is the largest in Africa and sixth largest globally, with a total addressable market of $2.6 billion.
Speaking at Super Group’s investor day last Thursday, Betway Africa CEO Laurence Michel said Nigeria is now ready for “super investment”.
“We’ve been in Nigeria for a while, we do have a profitable business there,” Michel said. “However, we have been a little bit gunshy given some of the regulations.
“We kind of are seeing that the regulatory environment has now improved. Federal versus state has now been cleaned up, and we’re ready to now give it a go.
“We think that we can make a big difference. We think that online, we have the smarts and the wherewithal to give it a full go now, which we’re going to do.”
Super Group looking to consolidate in Africa
Already in podium positions in seven of its eight markets, Betway Africa is setting its sights on future growth in the region.
Betway Africa launched in 2015, and has since enjoyed impressive growth.
This was evidenced by Super Group’s Q2 earnings, where the company announced its Africa and Middle East segment’s revenue grew 38.8% year-on-year to $229 million, accounting for 40% of the group’s total revenue.
But Betway Africa is still eyeing further expansion, beyond its existing markets of South Africa, Mozambique, Malawi, Zambia, Botswana, Tanzania, Ghana and Nigeria.
The company holds a podium position in all of those, bar Nigeria.
“The upside is enormous,” Michel said. “When Africa thrives, so does our business.
“Africa is a massive opportunity with a total addressable market of $12 billion in locally licensed markets, over 1.5 billion people and some of the fastest-growing populations and economies in the world.
“Our deep local knowledge and expertise and operations are our competitive edge. Our portfolio currently stands in eight countries and the estimated TAM for the rest of Africa that we’re not in is a potential $2.5 billion.”
In its investor day presentation, Super Group highlighted Ethiopia, Angola, Namibia and the Ivory Coast as future prospects for expansion.
Botswana has been a particular success story for Super Group and Betway Africa. Having launched there in February 2025, Betway Africa now holds 95% market share.
“Botswana is a blockbuster for us, our best country launch ever,” Michel claimed.
Casino fundamental to Betway Africa’s strategy
Betway Africa wants consistent growth across the African continent, with three main areas of focus: casino and mobile penetration, as well as new market development.
Casino is Betway Africa’s dominant vertical, generating 68% of its net revenue. Casino wagers have increased by 757% since 2022.
Betway Africa’s casino-only Jackpot City brand is currently in four African countries, and has become the seventh biggest brand in South Africa within just 16 months of launching.
The company hopes Jackpot City will soon join the podium positions in South Africa. It’s also planning to launch Jackpot City in Ghana in Q4 this year.
The battle to retain customers
Betway Africa has cemented a strong position in the market and the company is placing real emphasis on maintaining that foothold.
The company has developed a proprietary product platform called Synapse, which has improved the business’ scalability, performance and its ability to quickly deploy features.
Additionally, the company has enriched its live scoring app Betway Scores with sports content, and Michel believes value-adds such as this will help customer retention.
“We know that our business thrives when we retain customers well into the future,” Michel added. “Acquiring customers means nothing if you can’t retain them, and we do.”
Betway Africa’s customer retention was displayed in its H1 GGR, where 93% came from pre-2025 cohorts.
Betway Africa CEO Laurence Michel believes now is the right time for investment in Nigeria.