Betway’s parent company makes billions betting on Africa
· The South African
Betway’s parent company, Super Group Limited (NYSE: SGHC), generated billions in the first quarter of 2026.
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According to the company’s most recent unaudited quarterly report, Africa has been a major contributor to this revenue and a key driver for the company’s growth.
Africa: The Safest Bet for Betway’s Parent Company
In 2024, South Africans wagered R1.5 trillion. In the same year, the South African Revenue Service (SARS) collected R2.2 trillion from taxpayers.
Among those taking a piece of the gambling revenue is online sportsbook Betway.
Betway entered the South African market in 2006. Since then, it’s generated billions.
According to the company’s unaudited Q1 results, it made $606 million (R9.9 billion), a 18.5% increase from the previous year.
Africa was the largest regional contributor, accounting for 44% (R4.3 billion) of the income generated. The region also experienced the largest growth for the company, growing by 5 percentage points.
The company has honed in on Africa. Shifting market share away from underperforming regions like North America, which includes the United States and Canada.
In the first quarter of 2025, North America accounted for 36% of the company’s revenue, but this decreased to 31% in Q1 2026.
Speaking to iGaming Business, Alinda van Wyk, CFO for Betway’s parent company, said the business will focus more of its resources on Africa to become the “giants of Africa”.
The Gamble on Sports Betting Hasn’t Paid Off for Consumers
Despite the gamble on sports betting generating revenue for the corporation, everyday South Africans have losing odds.
A study by Yazi published on 8 June 2026 reveals the extent of the country’s gambling problem.
Surveying 1028 gamblers from all nine provinces, the consumer research platform found 57% had sacrificed essentials like groceries (9%), debt repayments (8%), and transport (7%).
The survey revealed that 29% of participants had borrowed money to bet. Men were 1.5x more likely to go into debt to fund gambling.
In its 2024-2025 report, the National Gambling Board highlighted that calls to the South African Responsible Gambling Foundation had increased by 623%. In the 2023-2024 financial year, the foundation received 141 000 calls; in the 2024-2025 financial year, it received 1 013 626 calls.
Betway Focuses on Nigeria Next
In an effort to expand its success on the continent, Super Group will look to grow its footprint in Nigeria.
In a recent media statement, the company announced a partnership with Don Jazzy, a Nigerian music executive.
This partnership represents one of the steps the company is taking to become a bigger player in Nigeria, with its growing young population.
In a statement announcing the collaboration, group CEO Neal Menashe lauded it as an “exciting new chapter” for Betway.
The markets are responding positively to the company’s plans, Super Group (SGHC) is up 13.89% year-to-date.