Online Gaming growing in Africa?

While online gaming has reached most parts of the globe, it has yet to gain much of a following in Africa. Of course, much of this has to do with the fact that only 20% of Africans have internet access. But despite this limitation, recent reports indicate that internet gaming could be gaining popularity in Africa.

Clarion Events recently announced that they’ll be holding an event called WrB Africa in Lagos, Nigeria. Curtis Roach, senior events producer at Clarion Events, says that the goal is to see how popular online casinos can be in Nigeria and surrounding countries.

“The region is known for its troubles and government issues, but this market is in its growth stage,” said Roach. “Nigeria is a leader in this market, and it has a lot of investment dollars. Reforms have happened.”

One thing that makes Nigeria attractive is that the country is rich in oil, making it the strongest economy on the continent. And strong economies make for disposable income, which, in turn, can lead to more online gambling. So Roach is funding research to see just how much Nigerians might be interested in internet gaming.

“It’s hard to say on the size of the market,” Roach said. “But we have some people doing research papers, and Nigeria is definitely the leader.”

As VentureBeat reports, WrB Africa is the first iGaming conference to ever be held in the region. While the event will target just 150 to 200 people, the idea is to not only create excitement for online casinos, but also encourage the government to regulate the activity.

Lanre Gbajabiamila, CEO of the Lagos State Lottery Board (LSLB), will be the event’s keynote speaker. And he believes that iGaming can be pretty popular in Nigeria, due to growing internet access and the population’s desire for sport.

“The Nigerian gaming industry is an evolving one and gradually expanding. More states and individuals are becoming more aware of the opportunities that exist in the industry in of entertainment, revenue and employment,” said Gbajabiamila.

As for the low amount of Africans with internet access, the Africa Internet Group is working hard to remedy this problem. They’ve raised $327 million in funding from big-time investors like AXA, African telecom company MTN Group, and Goldman Sachs. Thanks to these investments, the Africa Internet Group’s company valuation has already reached $1 billion.