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“Africa isn’t saturated, but I wouldn’t call it easy either. Betway and the local incumbents are well dug in. The difference is that you’re competing for a market that’s still forming, at a fraction of the acquisition cost, and the operating margin is there if you get the payments and the product right. The risk is regulatory and currency rather than competitive.”
GiG’s immediate priority following the completion of the deal will be disciplined integration, says Richards. This includes bringing 888Africa’s financial reporting, compliance and operational processes in line with GiG’s standards.
Ahlberg suggests GiG will look to transition 888Africa onto GiG’s platform, providing synergies down the line. Richards says GiG will look at where the company’s platform and tech can add value to the existing 888Africa business, although in terms of expansion, he again reaffirms that it will be a cautious approach in the short term.
About Gates Of Rizk
Younger patrons are increasingly familiar with crypto, but the lack of regulatory adoption in the regulated space can push bettors to offshore or unlicensed platforms, most of which do accept it. At the ICE Barcelona conference in 2025, a panel of international sports betting CEOs lamented the fact that they were barred from adopting crypto, while their black-market competitors were not.
A report released in June by payment provider Paysafe said the percentage of online sports bettors who dabble in crypto is 64%, more than double the US average of 30%. Crypto deposits are only legal in two states, Wyoming and Colorado, but crypto withdrawals are not legal anywhere – 85% of respondents said they would welcome withdrawals as an option, Paysafe said.
“When permitted, crypto would become a top-three payment option for funding deposits (after digital wallets and debit cards), and a top-two payment preference in New York and Illinois,” the report said.
How to play Gates Of Rizk
Playtech on Thursday reported a 10% revenue increase year-on-year in H1 to €425.1 million, driven by what it described as “exceptional growth” for its B2B business in North America.
Revenue from the US and Canada increased 161% year-on-year (or 176% in constant currency) to €56.9 million.
This was due to its partnership with Hard Rock Bet in Florida, and the strength of its games powered by Past Motor Racing (PMR). These are expected to normalise in subsequent quarters.
