When Kaizen Gaming entered Ghana with its Betano brand in early February this year, the Malta-based operator saw more than just a beachhead in West Africa. Ghana's online gambling market delivered an explosive report card in 2025—online gambling gross revenue soared by 24% to $903.5 million, with smartphone penetration and the deep integration of mobile payment platforms pushing this market of about 34 million people to the forefront of the African gambling landscape. Nana Ya Ahmed, a partner at ENS Africa's Ghana office, told iGB that Ghana meets most of the conditions investors consider when choosing to enter, integrate, and cultivate the market—a young, tech-savvy population, a stable political and economic environment, and a regulatory framework that is open to operator promotional activities. According to data from the Ghana Statistical Service, the youth population accounts for about 57% of the national population.
From 57% youth population to 70% mobile betting: the underlying engine
The underlying driving force of Ghana's gambling market comes from the deep coupling of demographic structure and digital payments. A 2021 Statista survey showed that 70.68% of Ghana's youth population had participated in gambling activities, ranking fourth in Africa, only behind Kenya, Nigeria, and South Africa. The TGM Global Gambling and Sports Betting Survey found that among Ghana's population of about 34 million, 50% had participated in some form of betting, 42% specifically in sports betting, with males (57%) and the age groups of 18 to 24 (56%) and 25 to 34 (57%) being the main forces in gambling activities. Another key factor driving this growth, defined by Ahmed, is the rapid and transformative expansion of smartphone usage and mobile payment platforms.
The country's leading mobile operators, MTN Mobile Money, Telecel Cash, and Airtel Tigo Money, have simplified payment modes, allowing users to complete deposits and withdrawals without relying on traditional banking channels. This has resulted in about 70% of bets being placed through mobile phones, with over 75% of bets related to football, focusing on the Premier League, La Liga, and the Champions League. Currently, about 73 operators are registered with the Ghana Gaming Commission, including brands such as Betano, Betway, 1xBet, Betika, BetPawa, Betwinner, MyBet Africa, SportyBet, MelBet, and SuperBet, offering a wide range of services covering casinos, sports betting, and remote interactive games.
20% gambling tax and the dual track of VASP law
In 2023, Ghanaian authorities revised the Income Tax Law, imposing a 20% tax on gross gambling revenue and a 10% withholding tax on profits. However, under continuous industry pressure, the government abolished the withholding tax early last year, allowing winners to enjoy their full winnings without any tax deductions. Lawyer David Yu Dankwa from Accra's Legalstone Solicitors views this as a significant development for the industry.
A more profound policy variable is the regulation of cryptocurrencies under the Virtual Asset Service Providers Law enacted in December 2025. Dankwa noted that Ghana has long shown an avoidance or even deep-rooted aversion to the emerging cryptocurrency market, but this attitude has now come to an end. Ghana has taken a bold and pragmatic legislative step to regulate the cryptocurrency market, bringing certainty and openness, with the intent to authorize the Bank of Ghana to license, regulate, and supervise entities active in the digital space. The Ghana Securities and Exchange Commission has established a 12-month regulatory sandbox framework for VASPs, allowing them to pilot products and services in a controlled environment. VASPs that reach market readiness and meet all regulatory requirements within six months can obtain the corresponding activity license or registration, while those not meeting the standards can continue piloting for the remaining six months.
The gambling law is still a product of the physical era, with gaps in remote regulation and anti-money laundering to be filled
Despite the overall supportive regulatory framework, the ENS Africa team explicitly pointed out that Ghana's gambling law has a structural mismatch with the era. The current gambling law was enacted before the rapid emergence and growth of digital/online gambling games and services, and is almost entirely based on the physical gambling regulatory model, assuming that the regulated entities are casinos, betting shops, and gambling machines. Although the Ghana Gaming Commission extends the scope of application of the gambling law and its guidelines to remote gambling services, the law does not establish a clear licensing system for remote gambling, nor does it explicitly regulate the cross-border remote gambling services provided by foreign operators, including not determining whether certain actions or activities constitute targeting Ghanaian users or reverse solicitation, etc.
Ahmed warned that this gap creates regulatory loopholes that could lead to financial losses, exacerbating the urgency of legislative amendments. Another gap that needs to be filled is the systematic integration of the gambling law with anti-money laundering and counter-terrorism financing guidelines. She pointed out that current anti-money laundering and counter-terrorism financing obligations mainly come from guidance issued by regulatory authorities and external legislation, rather than being clearly defined in the main regulation of the gambling law. ENS's recommendation is to explicitly write core anti-money laundering obligations such as customer due diligence, record keeping, internal controls, and suspicious transaction reporting into the gambling law, and directly link violations to the enforcement and penalty system under the gambling law, to enhance legal certainty and strengthen enforcement.
PASA official website continues to track the regulatory evolution and investment opportunities of Africa's emerging gambling markets, noting that Ghana is standing at a confluence of multiple variables—24% online growth rate, the policy window opened by VASP law for crypto gambling payments, and the institutional demand for the gambling law's transition from the physical era to remote regulation—collectively forming the key test of whether this West African market can leap from fourth in Africa to a larger role.
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This article is from "PASA-Global iGaming Leaders" gambling industry news channel: https://t.me/pasa_news
Original in-depth gambling channel: https://t.me/gamblingdeep
Free data reports: @pasa_research
PASA Matrix: @pasa002_bot
PASA official website: https://www.pasa.news
