Africa is an incredible continent not only for the beautiful sceneries it can offer but also the incredible opportunities it presents to sports betting operators. Sports betting has taken precedence over all the other gambling markets, with its popularity rising daily thanks to online betting. Today, the industry is worth over $35 billion, and it seems like it will continue booming over the next decade. Here’s everything you want to learn about sports betting on the continent:
Is Sports Betting Legal?
In most African Countries, gambling laws are quite controversial and ambiguous. However, the situation is a bit better when it comes to sports betting. As such, most Africans are free to access land-based bookies and online operators like Betway as long as the operator is licensed to operate in the given jurisdiction. For instance, countries like Tanzania, Kenya, and Nigeria have banned some operators in their jurisdictions, though citizens in these regions can use other options.
Currently, different African governments are trying to put in place solid laws governing this market. That mainly comes from the worrying number of users who continue to lose large sums of money to sports betting daily. The male youths are the most susceptible to the phenomenon since they believe betting brings easy and quick money that can make you rich overnight.
Recently, the South African sports betting market was scrutinized by a team of experts before passing an Amendment bill aiming to crack down hard on the market. The measures proposed in the bill make dog racing illegal, and it intends to impose advertising restrictions for the operators. However, many sports betting fans and experts believe that the bill’s disadvantages outweigh the advantages.
Preferred Betting Markets
According to Betway, Africa’s most popular markets are the combined bets. These bets account for half of the number of bets placed, with players combining two, three, and up to six bets or more. Other markets include the correct score and match results, though there is a significant rise in the number of live bets placed in different events. Additionally, most people who bet on race games prefer betting on the outright winner.
Sports Betting Future in Africa
The rise in the number of citizens engaging in sports betting is mainly due to vulnerability. Vulnerable individuals are easily taken by the promises of big wins and the success of various African athletes on the global scene. Additionally, innovations in mobile technology are driving the industry forward as more users can easily access online bookies from anywhere.
Today, a good number of Africans have enjoyed sports betting through their phones. For instance, over 50% of the South African people are subscribing to at least one mobile broadband service. Coupled with the increase in licensing of online betting services, is boosting sports betting. However, several experts have warned that mobile phone betting can result in problem gambling in a continent without properly established avenues to deal with the issue. That’s why most African governments are creating strict measures to regulate the betting culture, mostly among the youths.