What to Expect from Ghana Online Casinos in the Future
Ghanaian online casinos are creating more revenue than ever before. Here is what you can expect from them in the future.
Ghana is one of the smaller African countries located on the west side of the continent bordering Burking Faso, Ivory Coast, Togo, the Atlantic Ocean, and the Gulf of Guinea. The country covers an area of 238,535 km2 and it has a population of over thirty-one million people as estimated in 2020 which makes it one of the most populous countries in West Africa. Thanks to its natural wealth, Ghana is one of the most developed African countries with a GDP of $67.077 billion as estimated in 2019.
Ghana has an extremely diverse industry led by the exportation of various technology goods, manufacturing, ship construction, and automotive exportation and construction. The country is also a big exporter of industrial minerals, hydrocarbons, and other natural resources so there is no wonder why Ghana has one of the fastest-growing economies not only on the continent but in the world.
The country’s economy revolves are industrial development, and services that today account for over 50% of its GDP. Oil and mineral industrialization are quite developed alongside agriculture, ship building, food processing, light manufacturing, lumbering, and mining. For many decades, Ghana struggled with poverty especially in rural areas where people mostly rely on agriculture and cocoa farming. Even today, poverty is present in these areas but generally, the country has made crucial strides when it comes to boosting its economic development.
In fact, Ghana has made the most progress towards higher economic development of all West African countries. While some families in rural areas still live at poverty lines, the country’s industrial, manufacturing, and agriculture sectors have been thriving for a couple of years now and each of these sectors is crucial for building a better future for all Ghanaian people. This leads us to the main topic, the future of online casinos in Ghana. Further, we take a look at laws and regulations concerning the Ghanaian iGaming industry.
Gambling Laws and Regulations in Ghana
Just like in many other African countries such as Nigeria, Kenya, South Africa, and Mauritius, gambling activities in Ghana are legal and regulated. The capital city of Ghana Accra is home to land-based casinos and these offer roulette, blackjack, and poker games among other gaming options. When it comes to the online casino gaming industry in Ghana, all gaming activities including those at land-based venues are regulated by the main authority, the Ghana Gaming Commission.
The Ghana Gaming Commission is the only regulatory body for the online casino gaming, sports betting, and land-based casino gaming industry in the country. Lottery activities are overseen and run by the Ghanaian National Lottery Authority. The main piece of legislation for the Ghanaian sports betting and casino gaming industry is the Gaming Act 721 that has been in force since 2006. According to this piece of legislation:
1. Online casinos can operate legally
2. Gaming machines and bingo games are legal
3. Sports betting activities are legal
4. Horserace betting is also legal
5. Lotteries are monitored by the National Lotto Act 2006
Provided that they have obtained the required remote gambling licenses from the main regulatory body, the Ghana Gaming Commission, online casinos can operate legally within the country’s borders. With one of the fastest-growing economies on the continent, many renowned, international iGaming brands operate here and you can view them here. Before online casino gaming venues were allowed to operate in Ghana, the country’s gambling industry was limited to brick-and-mortar casinos.
As previously mentioned, it was only fifteen years ago that the country’s government finally decided to address the issue of online gambling services, and the Gaming Act 721 was finally enforced. Before this piece of legislation was enforced, several other legislations were in place including the Gambling Machines Decree from 1973, the Lotteries and Betting Act from 1960, the Casino Licensing Decree from 1975, and the Football Pools Authority Act from 1961. However, these laws and regulatory policies were very outdated, relatively rigorous, and quite strict.
The Revenue Authority and the Ghana Gaming Commission
Therefore, the Gaming Act 721 enforced in 2006 was warmly welcomed considering it addressed both online gambling and land-based gambling the right way. The same piece of legislation also addressed the problem of licensing iGaming operators and providers. At the same time, the country’s Revenue Authority has also made great progress towards strengthening the Ghanaian iGaming industry. More specifically, the Revenue Authority imposed a considerable 17.5% tax on iGaming and other operators in the gambling industry.
For many years, land-based gambling businesses in the country were allowed to start offering online gambling activities with their already obtained licenses. Today, if they want to launch online gambling services, they need to obtain the required licenses by the Ghana Gaming Commission and invest in taxes and this naturally, boosts the country’s economic status. Speaking of the Ghana Gaming Commission, this sole regulatory body for the gambling industry is responsible for:
· Establishing all regulations
· Issuing remote gambling licenses
· Enforcing regulatory provisions and standards
· Generating revenues through levies and taxes from iGaming operators
· Ensuring full compliance with the regulations and laws
· Checking security and safety requirements
The Ghana Gaming Commission is also heavily invested in creating and maintaining a respectable, fair, and viable gambling industry for all parties involved. The sole regulatory body is also responsible for creating a more sustainable, better gaming industry that will boost the country’s economic development. In addition, the Ghana Gaming Commission does all the hard work that includes monitoring, regulating, supervising, and controlling the operation of casino games in the country.
What the Future Holds for Ghanaian Online Casinos?
So, what the future holds for the Ghanaian online gambling industry. One of the major factors affecting the country’s online gambling industry is internet penetration. Between 2020 and 2021, the number of active internet users in the country increased by 6.4% or by almost one million. As estimated in January of 2021, internet penetration rates in the country stood at 50% which means there were almost sixteen million active internet users at the beginning of this year.
At the same time, there were over forty-one million mobile connections in the country and the number of mobile connections between January of 2020 and January of 2021 increased by 8.1% or over three million. With more Ghanaian people using the internet, the Ghanaian iGaming industry is projected to grow and expand further in the years to come. Emerging technologies are also expected to further accelerate the expansion of the iGaming industry in the country.
When we add to this online casino gambling laws and regulations in force in Ghana, more renowned, international online gambling operators will most certainly start offering their services to Ghanaian online casino gamers. The country’s adoption rate of portable devices and internet penetration rates are also expected to improve in the following years.
Wired internet connection alongside the increase in speed and availability will make it possible for more Ghanaian people to enjoy high-quality online gambling sessions including those from rural areas. More enthusiastic players always bring more interest, so it is expected to see more international operators applying to get licenses and operate within the country’s border. With this being said, the future of online casinos in Ghana looks rather promising.
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