Ghana’s gambling industry has experienced remarkable growth that is projected to continue. Partnerships with local payment gateways are expected to boost market expansion as players look for the quickest and most convenient payment methods.
Ghana’s gambling market is booming, especially with the recent cancellation of the gambling tax on winnings. Gambling revenue is projected to reach US$915.94 million in 2025, with an annual growth rate of 1.98% (CAGR 2025-2029), resulting in a projected market volume of US$990.73 million by 2029.
As Ghanaians increasingly seek convenience and accessibility in their gambling activities, online platforms are poised to capitalise on this trend and continue to grow in the years ahead.
The scrapping of the tax on gambling and lottery winnings is expected to encourage more activity from both casual and high-volume bettors. This indicates that the government wants to support a growing regulated industry rather than constrain it.
Looking ahead, a few key trends are expected to keep shaping market growth:
Ghana’s online gambling market was valued at US$57 million in 2024 and is projected to grow to US$74 million by 2029. Sports betting, particularly football betting, accounts for over 75% of all wagers placed, with 70% of those bets made via mobile phones.
The rise of services like MTN Mobile Money and Airtel Money has played a significant role in the growth of the gambling industry. Suddenly, placing a bet is as simple as texting, with no queues and no bank account required, which has opened the market to younger users and mobile bettors who were previously hamstrung.
Mobile money penetration exceeds 50% among Ghanaian adults, and according to a recent study, integrating local payment gateways reduces payment fees by 70% and cuts the processing time to mere seconds..
Sports betting platforms and online casinos in Ghana are increasingly forging partnerships with homegrown payment providers, such as Paystack, Hubtel and Slydepay, to streamline the payment and withdrawal process and broaden financial inclusion for millions of punters.
The local payment trend reflects consumer demand for seamless, low-cost transactions, which has seen regulators create policies to help integrate licensed fintech solutions into the gambling ecosystem.
Many local payment API’s offer built-in Know Your Customer (KYC) and fraud detection. Gambling companies frequently partner with local payment gateways to verify customer identification and help prevent money laundering.
Betting operators are required to develop responsible gambling tools for real-time transaction monitoring to identify suspicious wagering patterns, such as frequent and high-value bets.
Online casino and sports betting operators offering local payment gateways have reported an increase in customer conversion and retention, thanks to fantastic bonuses and promotions. Partnerships with Ghanaian payment gateways have paid off for gambling companies and players who value in-app balance updates, notifications, and the ability to cash out winnings into their local wallets without complications from currency conversion.
Overall, this bodes well for both punters and the industry's growth.
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