There has never been a more intense period of competition in the iGaming industry than what is occurring today. The COVID-19 pandemic compelled people all over the world to seek out digital entertainment. With a larger user base now available, iGaming companies are looking for any advantage they can get in order to compete in both established and emerging markets.
As iGaming’s popularity has grown, new markets have developed where it has previously been unable to establish a presence. While there are numerous examples, the emerging African iGaming market is one of the most significant. Companies there require experience and innovation to address this new market’s unique needs.
Veli Services is one of the companies focusing on developing customized iGaming platforms for the African market through partnerships with local African companies. Gia Janashvili, co-founder of VeliServices, brings significant international experience with B2B2C partnerships for local companies, laying the professional foundation required to deal with the industry’s unique challenges today.
Exploration of New Markets Continues to Drive iGaming Growth
Veli Services as a company that maintains a significant international presence. Their iGaming technology platform specifically enables their partners to provide highly customized and targeted experience to their unique markets. The needs and preferences of iGaming customers shift dramatically across cultures and localities. A set of customizable tools to meet those needs better is exactly what iGaming operators are looking for.
A few years ago, there were relatively few iGaming platforms available. Those who did frequent them were largely satisfied with what they had to offer in terms of sports betting and casino games. There was little reason for most customers to prefer any platform over any other, so the drive to innovate within the industry was very low. Today that has completely flipped.
iGaming companies cannot reasonably count on customers to stay with their platforms in the long term. With Veli Services, operators can adapt to the specific requirements of any market based on the unique local cultures and niches. Gia Janashvili says, “At every level of the iGaming industry, the most important thing to understand is people. That applies to both how companies handle their user base and how they deal with partnerships. It’s even more important to get this right when moving into a new market, and Veli Services gives companies the tools they need to do just that.”
African Markets Represent a Prime Opportunity for iGaming
Veli Services is already doing business with a variety of partners in the pan-African market. As the industry continues to grow there, there’s ongoing demand from iGaming companies looking to leverage every advantage they can in such a competitive space. One example of an iGaming company working with Veli Services is Paridirect. This Congo-Brazzaville based company provides sports betting and casino games. Their latest endeavor is built on the unique iGaming Veli Services provides, allowing them to more accurately address the unique challenges of the Congolese market.
Congo, in particular, is poised to be a significant driver of growth in the pan-African iGaming industry overall. With both significant demand and development taking place in the country, Congo and other countries like it are set for huge growth. Speaking on Veli Services operations in the area, Gia Janashvili says, “It’s clear that there’s room for significant growth in Congo and similar markets within the larger pan-African iGaming industry. Veli Services will continue developing more partnerships and investing in the pan-African market. We believe that we will see some great things here over the next five years.”
Investments Continue to Roll into Thriving African Markets
In recent years, Africa has seen an influx of foreign investment across a broad range of industries. It’s believed that over $4 trillion will have been invested across all sectors by 2025, with the bulk of funding coming from Chinese ventures focused primarily on infrastructure and energy.
The iGaming industry is no exception to this considerable growth. 2021 saw significant increases in many key African markets. Revenues from the industry in South Africa nearly reached $300 million, with Nigeria seeing a new high as well at $185 million. Similar increases are being seen across smaller economies in the region like Ghana, Ethiopia, and Kenya.
Veli Services continues to provide the key partnerships that these iGaming companies need to succeed in this competitive market. Their unique technology lets platforms improve engagement and customer retention, especially in a market that is so heavily dominated by mobile iGaming.
“I’ve had the opportunity to build partnerships across Latin America, Eastern Europe, and Africa, and during that time, I’ve been able to learn the importance of really understanding how unique every market is. Today, Veli Services is helping iGaming companies across Africa put that understanding to good use.”
