Super Group Eyes UK Market Share Gains Amid Gambling Tax Increases
United Kingdom.- 6 November 2026 | www.zonadeazar.com Super Group, the owner of Betway and Spin, believes consolidation in the UK gambling market presents an opportunity to increase its market share, despite significant increases in gambling taxation.
CEO Neal Menashe highlighted that the departure of smaller operators could benefit companies with more efficient operating structures.
During the third quarter of 2026, Super Group’s UK revenue increased by 13% year-on-year, while the group continued expanding its operations across Africa.
Tax Increases Reshape the UK Market
The UK gambling industry is undergoing significant regulatory and fiscal changes.
From 1 April 2026, Remote Gaming Duty increased from 21% to 40%.
Additionally, the Government announced in October that Machine Games Duty for certain land-based gaming products would rise from 20% to 25%.
The increased tax burden has contributed to some operators leaving the market, while other businesses have announced venue closures and job reductions.
Super Group Targets Additional Market Share
Menashe believes Super Group is well positioned to benefit from these changes.
He explained that the company had consolidated its UK operations to reduce costs and mitigate the impact of higher taxes.
According to the executive, the departure of smaller businesses creates opportunities to capture revenue previously generated by those operators.
The strategy focuses on gaining market share through operational efficiency, rather than relying exclusively on acquisitions.
CEO Warns About Illegal Gambling Growth
Menashe also questioned the overall tax burden facing the UK gambling industry.
He warned that excessive taxation could encourage customers to migrate towards unlicensed gambling platforms.
In his view, this would have negative consequences for government revenue and responsible gambling protections.
The executive called for a more balanced approach between fiscal requirements and the sustainability of licensed operators.
Quarterly Revenue Reaches $611 Million
Super Group reported positive financial results during the third quarter of 2026.
Key figures included:
- Total revenue: $611 million, up 10%.
- Adjusted EBITDA: $165 million, an increase of 8%.
- Net profit: $142 million.
- UK revenue growth: 13%.
The results demonstrate the company’s ability to maintain growth despite fiscal changes and a quarter of less favourable sporting results.
Africa Accounts for 43% of Revenue
Africa remains one of Super Group’s principal growth markets.
During the third quarter, the company reported:
- African revenue: $262 million, up almost 17%.
- African online casino revenue: $205 million, an increase of 21.3%.
- Africa’s share of total group revenue: 43%.
Super Group currently operates in eight African countries and is seeking to expand its presence through additional regulatory approvals.
Online casino growth was particularly important in offsetting volatility in sports betting performance.
Namibia, Kenya and Rwanda Offer Opportunities
Super Group is preparing further commercial initiatives across Africa.
The company expects to enter Namibia in 2027 and has submitted an application to return to Kenya.
Menashe explained that the group previously exited Kenya before its New York Stock Exchange listing in 2022 but now sees renewed opportunities following regulatory reforms.
Super Group has also secured sports betting and casino licences in Rwanda.
Although the company considers Rwanda’s gambling taxes relatively high, it intends to maintain its regulatory position so that it can expand operations if market conditions improve.
Accumulators Dominate African Sports Betting
Menashe explained that betting preferences across African markets differ significantly from those in other regions.
Approximately 70% of African sports betting activity involves accumulator bets, also known as parlays.
According to the executive, some bets contain as many as 30 selections, although the average is between 13 and 14.
This structure creates greater volatility in sportsbook margins and requires dedicated risk management strategies.
Super Group Maintains Conservative M&A Strategy
At the end of the third quarter, Super Group held $602 million in cash and cash equivalents.
Despite its financial position, Menashe emphasised the company’s cautious approach to mergers and acquisitions.
He explained that several opportunities previously considered had been rejected because of excessive valuations.
Super Group will prioritise complementary acquisitions that add value to its existing operations while avoiding transactions involving substantial additional debt.
Industry Impact and Next Steps
Super Group sees growth opportunities in two markets with different characteristics.
In the United Kingdom, tax-driven consolidation could allow the company to increase its market share. In Africa, the group is pursuing growth through additional licences and expanding online casino operations.
With quarterly revenue of $611 million, UK growth of 13% and African revenue of $262 million, Super Group is strengthening its Betway and Spin brands while warning about the risks of excessive gambling taxation.
Developments in the UK market and licensing processes in Kenya, Namibia and Rwanda will remain important factors in the company’s expansion strategy.
Edited by: @fonta
