Super Group’s exit from the US in 2025 ended its ambitious expansion, but for CEO Neal Menashe it also shone a light on where the company holds its competitive edge.
Africa represents around 40% of Super Group’s revenue and has been its largest region for five consecutive quarters, proving just how important it is to the company’s overall strategy.
The company is also seeing encouraging momentum in newer markets like Botswana, where it launched in early 2025 and has already recorded “great growth” and customer acquisition.
Expansion is continuing, with Namibia next on the roadmap due to its proximity to the two aforementioned countries, as well as several additional markets in the pipeline over the next two years.
Menashe pointed to growth catalysts, including population growth, increasing smartphone adoption and the rise of mobile money, with the continent’s iGaming market projected to grow from $11bn in 2025 to $22bn by 2030.
South Africa, which Menashe said is one of the most mature markets, remains the cornerstone of this growth.
“We are the top operator there. It’s well regulated, record casino volumes in our recent quarter and continued momentum with our Jackpot City brand,” he said.
However, not all markets have delivered immediate success. Nigeria, despite its size, has proven more challenging, prompting a rethink of strategy.
“One that we’re not doing so well in is Nigeria,” Menashe stated. “We are redefining our strategy in Nigeria, which is totally different to the rest of Africa. We do see lots of upside and it’s obviously a large market and we are mobile first, so we’re honing our product there.”
American Lessons
After spending “hundreds of millions of dollars” trying to compete in a market dominated by DraftKings and FanDuel, Super Group ultimately concluded there was no clear path to profitability in America.
However, the venture was far from wasted. It streamlined the company’s focus on markets where it already has scale and operational advantages, particularly Africa, where Menashe believes Super Group commands a similar presence to the US market leaders.
Speaking on the latest episode of iGaming Daily, Menashe said: “We learned lots of lessons. It’s all about being the best of the best in order to compete.”
What will the 2026 World Cup offer?
With much of its footprint represented, the upcoming 2026 FIFA World Cup taking place across the US, Canada and Mexico is set up to be a significant engagement opportunity for Super Group.
“Sport is about content,” Menashe said, describing the tournament as effectively an extension of the football calendar, providing “another six weeks” of high-intensity engagement.
According to the company, 88% of its revenue comes from countries participating in the tournament. Previous World Cups have consistently delivered spikes in user activity, and Menashe expects a similar trend this time around.
Not looking to invest heavily in official tournament sponsorships, which he described as very expensive, Super Group will focus on digital activation and leverage its existing football partnerships – specifically mentioning Arsenal and Manchester City.
Operationally, the priority will be ensuring platform stability and efficient payouts during peak demand, particularly as daily user numbers can reach into the millions.
The tournament also plays into the company’s operating model. While Betway is marketed as a sports-led brand, casino is the primary revenue driver, accounting for around 80% of group revenue.
“The sports gives us interaction and then the casino is where they can win big amounts,” he said. We are casino at heart, but with this unbelievable sports brand and sports product it’s all about content.”
Balancing tax and growth
Given the recent gambling tax hikes in the UK and other markets where Super Group is active, it’s hardly surprising the topic came up in conversation.
Menashe shared his view that optimal tax rates for iGaming operators sit between 15% and 25%, warning excessive taxation risks driving consumers towards unregulated markets.
“When you over-tax an industry so no one can make any money, countries end up losing all the taxes they would have collected,” he said, highlighting the risk of illegal operators filling the gap.
In the UK, where new tax increases are set to take effect, Super Group expects a financial hit but is confident it can navigate the impact through greater efficiency and reduced competition as smaller operators exit the market.
The company has already been streamlining its operations, reducing headcount and focusing investment on markets where it can achieve sustainable profitability such as Canada.
With taxes rising alongside competition, Menashe concluded by providing an inside look at the company’s strategy of honing markets where the business can win and remaining disciplined elsewhere.
“You can’t be everywhere,” he said. “It’s not just about putting a website up… this is about being the best of the best.”
