In the last 15 years, there have been major changes in Kenya’s gambling environment as a result of online gambling which includes the use of mobile phones, tablets, and personal computers. It is the fastest system of gambling and it’s changing the way users engage in this activity.
Online gambling in Kenya is on course to be a goldmine in the quest for fortune. This article will guide you on Kenya’s gambling market, revealing vital insights and statistics that depict its astonishing growth rate as well as the differences from fast payout gambling in Australia.
In this article
Kenya’s Online Gambling Market Growth Rate
Compared to other African countries, Kenya has a high internet penetration rate of 43%, with the majority of users doing so via their mobile phones. This surge in internet utilization led to a massive growth in the online gambling market in Kenya. Further contributing to the surge in online betting is the fact that many Kenyans live in remote locations far away from casinos. This has led to an unprecedented rise of A$31 million in the online gambling market between 2018 and 2023.
Statista projections suggest a 9.04% Compound Annual Growth Rate (CAGR) from this year boosting market volume to more than A$200 million by 2027. The CAGR projection represents a standard and easy way to measure the growth of Kenya’s online gambling market. This represents an upward growth trend that currently does not look like receding.
Fast Payout Casinos in Kenya
The online gambling market in Kenya has evolved in recent times with current gambling legislations set to afford Kenyan players a secure and improved gambling experience. According to Statista, the online casino market is expected to reach A$47.72 million at the end of 2023. Kenyan players are making the most of this by choosing fast payout casinos.
Fast payout casinos stand out among the variety of online betting options in Kenya as online gambling sites differ from one another. As the name implies, fast payout casinos deliver winnings to their players with speed and efficiency. Detailed below are some of the fastest paying online casinos you can find in Kenya:
- Hollywoodbet: This is the fastest paying online gambling site in Kenya. In a few hours, players can move money from their betting accounts to their bank accounts.
- 1xbet Kenya: Also a fast paying online betting company, it takes less than 24 hours to move cash from the site to a player’s bank account.
- Betway Kenya: Due to its fast payout success, in 2017, Betway Kenya expanded to South Africa and Nigeria, becoming a world leading Bookmaker. They pay their customers in under 24 hours.
- Noxwin: Noxwin is the fastest growing casino in Kenya because it provides players with fast and easy payout. Payments are typically processed in less than an hour and get to users’ accounts in under 24 hours.
Kenya’s Online Gambling Community
As a multiethnic community, Kenya has a large customer pool, but according to reports from an independent survey by Slot, only 30% of the gambling community in Kenya occurs online, although an increasing number of young adults are showing interest in online betting because of its convenience. The most frequent users fall within 18-25 years which accounts for mostly students and people with low income. As a result, online betting in the region is mostly high-volume but low-value bets.
Low-value bets in increased frequencies in Kenya’s online gambling market account for the Average Revenue Per User (ARPU). The average Kenyan gambler gets A$324.43 in ARPU annually, showcasing the level of profitability of the online gambling market in Kenya.
The ARPU also reveals the enthusiasm of users combining their entertainment with financial gain. It is expected that by 2027, Kenya’s online betting community will hold about 352 thousand users.
Kenya’s online gambling market still has indications of an untapped potential within the country with a user penetration rate of 0.5%. This shows that the total number of players engaged in online betting compared to the total population in Kenya is quite low. With the projected growth rate of the online gambling market and the increasing awareness of digital technology in the country, improvement is likely.
Online Gambling Regulations in Kenya
In fact, Kenya was one of the first African countries to legalize all forms of betting and casino games nearly 60 years ago stemming from the Betting, Lotteries and Gaming Act of 1966. At the time, there was no mention of online gambling. In 2013, regulations were introduced to allow online sports betting.
Kenya’s Betting Control and Licensing Board is the body that regulates gambling in the country, although most of its regulations affect onsite casinos. The online gambling market is allowed to operate freely by the government. This was going to change in 2019 when a Gaming Bill was drafted but did not pass the second reading. Currently, the status of the bill is still unclear.
In general, gambling of any kind is legal in Kenya, with the only restrictions on age. According to the Betting, Lotteries and Gaming Act of 1966, the legal age for gambling is 16 years.
Next Steps: Entering the Kenyan Online Gambling Market
Having discussed key statistics, operators, and regulators of the online gambling market in Kenya, how does an individual access the market? Whether as a player or operator, entering the online betting industry requires a thorough business plan and caution.
The statistics suggest that Kenya’s online gambling market is expanding and presents an opportunity for investors. Studies show that sports betting is the most dominant in Kenya’s online betting industry, so the adoption of a more robust platform that offers users a variety of sports and online casino games is advisable like the one that was introduced in Suomi kasinot. With entertainment, convenience, technology, and innovation all in one mix, online betting in Kenya has it all for operators and users alike.
