Is Africa A Reliable Market For Online Betting Business?
In Africa, many people are passionate about sports and some of the
popular ones are soccer, rugby, cricket and basketball. It is not surprising
that the continent's sports betting industry is booming and is expected to
grow exponentially over the next few years.
Introduction of Mobile Betting.
Bookmakers took advantage of the mobile betting platform by developing
dedicated apps for Android and iOS. The majority of Africans over the age
of 18 own or have access to a mobile phone, allowing them to register with one
or more betting companies. Mobile betting also allows fans to bet on sporting
events from anywhere they are.
Implementation of Mobile
Money .
Another factor of Africa's great development can be attributed to
the tremendous growth of mobile money. MPesa by Safaricom was launched in the early
2000's and served as a turning point for a variety of industries long before
today's betting industry existed. MPesa and other mobile money platforms are
working with several bookmakers to provide their customers with faster mobile
payment services, in addition to other options like MasterCard, Neteller and
skrill.
The global gambling market continues to grow at a fast pace. Concerns
remain, but there is an argument that the gambling industry can be beneficial
to a country if it is well regulated. According to The Business Research
Company, the global gaming market is worth about $ 565.4 billion and is
expected to grow by 5.9% annually through 2022. Everything shows that the
gambling industry is booming around the world, and Africa is no exception.
This includes significant growth across the continent, where the sports
betting market continues to grow rapidly. In South Africa alone, sports betting
GGR surpassed $ 600 million last year.
The African sports betting industry has not yet reached its peak. Some
countries like South Africa, Nigeria, Kenya and Ghana are just a few of the
countries that have made great strides. Meanwhile, the government has yet to
find an effective way to regulate the online gambling industry. In the future,
more governments are expected to enact regulations and more businesses are
expected to enter the market.
