In a strategic move, MultiChoice has entered the thriving sports betting market by launching SuperSportBET.
Unlike the earlier days when South Africa stigmatized sports betting, recent legal developments and changing attitudes have facilitated its substantial growth.
The gambling landscape in South Africa underwent a significant shift in 1996 with the introduction of the National Gambling Act, which legalized various forms of regulated gambling beyond horse racing. Notably, online sports betting gained legality in 2004, leading to the emergence of numerous platforms over the past two decades.
Today, sports betting has surpassed the national lottery to become the country’s largest gambling market.
SuperSportBET’s inception coincided with MultiChoice’s financial challenges post-separation from Naspers, exacerbated by the rise of online streaming platforms and declining pay-TV subscriptions.
Recognizing the upward trajectory of sports betting, MultiChoice took a bold step by acquiring a 49% stake in KingMakers, the company behind Nigeria’s BetKing, in June 2021, signaling its intention to enter the sports betting arena.
SuperSportBET officially launched in South Africa in November 2023, initially flying under the radar.
However, its presence gained prominence in January 2024 when the platform announced sponsorships with two major soccer clubs, Orlando Pirates and Kaizer Chiefs.
SuperSportBET leverages its association with SuperSport, one of the world’s largest sports broadcasters and a cornerstone of MultiChoice’s survival.
With a viewership of 3.5 million in South Africa alone, SuperSport holds a dominant position in sports broadcasting, covering a wide range of sports, including rugby, soccer, cricket, F1, and UFC.
The strategic sponsorship deals with popular soccer clubs provide SuperSportBET with a unique marketing edge, tapping into the extensive brand recognition and viewership of SuperSport.
While current contractual agreements may restrict direct advertising on SuperSport channels, future opportunities could arise as these contracts expire.
The South African online sports betting market is anticipated to generate nearly R395 million in revenue this year.
Given the nation’s fervent sports culture, characterized by a near-obsession for many, these revenue projections align with the growing trend of sports betting.
As SuperSportBET integrates into the sports scene with banners and advertising at prominent events, it is poised to attract an even larger audience of sports enthusiasts looking to place bets on their favorite teams.
