DUBLIN, Dec. 18, 2023 /PRNewswire/ — The “Tanzania Gaming Market | Growth, Industry, Share, Analysis, Trends, Outlook, Revenue, Size, Value, Segmentation & COVID-19 IMPACT: Market Forecast?By Type (Sports Betting,?Casino,?Lottery,?Others),?By Channel Type?and Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.
Tanzania gaming market size is projected to grow at a CAGR of 10.6% during 2023-2029. The market is expected to witness significant growth in the coming years on the back of government initiative to boost internet penetration in the rural areas of Tanzania by constructing fiber-optic infrastructure along with increasing youth population i.e., 15-34 years to 27.7 million by 2030 from 22.9 million in 2020 would bolster the market revenues of gaming in the future.
Tanzania Gaming Market grew significantly before the COVID-19 pandemic on account of increasing sport betting stations, mobile money subscriptions and internet users in the country. In 2020, due to COVID-19 pandemic, the gaming market was negatively impacted the retail sports betting due to the closure of public places in the country. However, the retail market recovered with an ease of restrictions.
Further, the evolution of smartphones and high internet penetration along with sports events such as Qatar FIFA World Cup and Tunisia Ligue Profession Nelle 1 contributed to growth of gaming market. Additionally, the sports betting industry has been propelled by an increase in the number of betting shops across the country, particularly in Dar Es Salaam.
In 2021, Tanzania received support from the World Bank for the Digital Tanzania initiative project, which was valued at $150 million with the aim to enhance digital connectivity by ensuring that all citizens, including those in rural areas, have access to affordable, high-quality internet services.
Moreover, Vodacom Tanzania is developing fiber-optic cable infrastructure with an investment of US$10 million in the rural part of the country in order to enhance the internet connectivity, thereby contributing to demand of gaming market. In addition, the Tanzania government has set a target to achieve 80% of internet access of the total population by 2025 with the construction of optical fiber up to 15,000 km under the national fiber grid initiative. The government of the nation is effectively contributing to the Tanzania Gaming Market Growth.
Market by Type
Sports Betting is anticipated to grow at a faster pace during the forecast period as the people in Tanzania are passionate about sports, especially football, cricket and follow local and international leagues closely.
Market by Channel Type
Land-based has accounted for major revenue share in Tanzania Gaming Industry in 2022 on the back of less access of internet to public especially in rural areas whereas on the other hand, in the forthcoming years, online channel would grow as a platform for betting sports and online casinos owing to heavy advertising campaigns and advertisement at bus stands, radio stations, newspapers, and social media by the government which would encourage the youth towards betting.
Key Highlights of the Report
- Tanzania Gaming Market Overview
- Tanzania Gaming Market Outlook
- Tanzania Gaming Market Forecast
- Historical Data and Forecast of Tanzania Gaming Market Revenues, for the Period 2019-2029F
- Historical Data and Forecast of Tanzania Gaming Market Revenues, By Type, for the Period 2019-2029F
- Historical Data and Forecast of Tanzania Gaming Market Revenues, By Channel Type, for the Period 2019-2029F
- Historical Data and Forecast of Tanzania Online Gaming Market Revenues, By Type, for the Period 2019-2029F
- Historical Data and Forecast of Tanzania Land Based Gaming Market Revenues, By Type, for the Period 2019-2029F
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Channel Type
- Market Drivers and Restraints
- Market Trends
- Competitive Benchmarking
- Key Strategic Recommendations
- Bet 365 Group Ltd.
- 888 Holdings PLC
- M Bet
- Gal Sport
Market Scope and Segmentation
- Sports Betting
- Others (Bingo, Poker etc.)
By Channel Type
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Originally published at https://www.prnewswire.com/news-releases/tanzania-gaming-gambling-market-trends-and-outlook-report-2023-2029-featuring-bet-365-888-sportpesa-m-bet-meridianbet-betway-1xbet-and-gal-sport-302017756.html
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