Ghana seizes illegal analogue gambling machines as part of its move to digitise the gambling industry and positively impact the nation’s economy. What does the future of online gaming in Ghana look like?
Ghana’s Gaming Commission has seized over 500 illegal analogue slot machines as the country moves toward a more digital economy.
The old machines were taken from operators across the country as part of the regulators’ mission to ensure all slot machines in the gambling sector are electronic, helping to plug tax leaks from the industry. The Gaming Commission is now working with other authorities nationwide to clamp down on any business licences issued to those operating illegal gambling machines.
Ghana’s government accelerated the shift from land-based to online gambling in 2020, with some operators given the right to run online casinos on their platforms during the country’s lockdown.
Ghana’s online gambling industry has seen remarkable growth in the last few years, and revenue in the sector is projected to reach US$57.42 million in 2024, with the largest contributor being the online sports betting market at US$30.24 million of the total.
The online gambling sector in Ghana is growing at an annual rate of 5.16%, and the market volume is projected to reach US$73.83 million by 2029.
Customer preferences in the online gambling market in Ghana are shifting towards convenience and accessibility. With the increasing availability of smartphones and internet connectivity, more Ghanaians are embracing the digital revolution and gambling online instead of visiting traditional brick-and-mortar casinos.
Online platforms offer a wide range of gambling options, including sports betting, casino games and lottery, providing customers with a convenient and immersive experience from the comfort of their own homes.
Underlying macroeconomic factors further support the expansion of the online gambling market in Ghana as the country has experienced steady economic growth in recent years, leading to an increase in disposable income among the population, which bodes well for the sustained growth of the sector.
Online gambling platforms are poised to capitalise on Ghanaians’ demand for convenience and accessibility in their gambling activities and to continue to grow the sector in the coming years.
Ghana has introduced a new measure that will see a 10% tax applied to sports betting and lottery winnings, which will be automatically deducted upon payout.
To facilitate easy monitoring by the revenue authority, lottery operators are required to update their software to reflect the amount staked, winnings, and tax deducted. The Ghana Revenue Authority emphasised that this tax implementation is expected to significantly enhance domestic tax revenue collection and improve Ghana’s comparatively low tax-to-GDP ratio within the sub-region.
The country recently entered into a three-year International Monetary Fund bailout program following a prolonged period of economic challenges and as part of the economic recovery initiatives, economic advisers have urged the expansion of the tax base and the mobilisation of domestic resources to drive the country back towards growth.
With the increased revenue being collected to boost the country’s coffers due to the new tax and the ever-increasing popularity of online gambling in the West African country, the future of this sector looks positive indeed.
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