Could Formula 1 create a new betting market in Africa?

Following the success of Italian driver Kimi Antonelli, the world's youngest Formula 1 champion, there is growing interest in when the sport will return to Africa. The last Grand Prix on the continent was held in 1958 near Casablanca, Morocco.

Under a 10-year agreement with Rwanda, Formula 1 is scheduled to return to Kigali, the capital, in the early 2030s. The race is expected to take place on a track built specifically for the event in Bugesera, near Kigali. Rwanda aims to attract tourism and investment through the event.

This development also raises a new question for betting companies. Could high-level motorsport create a new betting opportunity in Africa beyond football? Jeremiah Maangi, founder and CEO of iGaming AFRIKA, sees it as a major opportunity for African betting companies. However, according to Maangi, rather than assuming demand will emerge on its own, operators need to create that demand themselves.

South Africa is at the centre of Africa's Grand Prix tradition. The country's first Grand Prix was held in 1934 in East London, in the Eastern Cape province on the Indian Ocean coast. The first official South African Grand Prix took place in 1962, also in East London. Until 1993, races were held at the Kyalami circuit near Johannesburg.

In Africa's motorsport history, the Paris-Dakar Rally stands out the most. Recognized as one of the world's toughest endurance events, it sees specially prepared cars and motorcycles cross the Sahara Desert, passing through Algeria, Niger and Mali, and tackle demanding routes across North and West Africa to reach Dakar, the capital of Senegal.