Golden Matrix Group, a developer and licensor of online gaming platforms, systems, and gaming content, today announced that its subsidiary, Meridianbet Group, a B2B and B2C sports betting and gaming platform operating and regulated in multiple international markets, has been granted a sports-betting license in South Africa.

This license was granted by the Western Cape Gambling and Racing Board, confirming Meridianbet’s expansion into the South African market.

The Western Cape Gambling and Racing Board has issued Meridianbet a Bookmaker License (License No: 10193531-001), a Bookmaker Premises License (License No: 10193533-001), and a Manufacturer License (License No: 10193532-001).

The licenses effectively enable Meridianbet to operate online sports betting across the entire country, demonstrating the company’s regulatory compliance and fit-and-proper status within South Africa’s stringent licensing regime. Additionally, the Manufacturer License allows Meridianbet to license its proprietary sports betting software within the Western Cape region.

“We are thrilled to enter the South African market, and this new license presents a significant opportunity for us to continue to scale our operations,” said Zoran Milosevic, CEO of Meridianbet. “Expanding our reach into South Africa will provide new opportunities to grow our user base in an entirely new jurisdiction, underscoring our ongoing commitment to growing our industry-leading brands around the world.” 

The South African digital gambling market has exhibited significant recent growth, with total revenue projected to reach $828.50 million by the end of 2024 according to Statista. The market is expected to grow at a compound annual growth rate (CAGR) of 5.77% from 2024 to 2029, resulting in a projected market volume of $1.1 billion, according to the same source.

This market expansion supports Meridianbet’s consistent operational growth and dedication to continuing to innovate within the global iGaming sector.

By the end of 2024, the United States is expected to generate the most revenue in the online gambling market, with projections of approximately $23 billion in revenue, according to Statista. This positions the South African market as a significant player in the global landscape.