Betting and other forms of gambling are fast developing into a fully grown phenomenon across Africa. Placing bets on which team might emerge victorious has become a multi-million dollar industry.
In countries such as Ghana, Kenya, Nigeria and South Africa, there is a huge expansion in sports betting and other forms of gambling with many entrepreneurs and foreign companies pocketing millions thanks to this boom.
Here are some of the amazing facts that have made Betting and Africa one :-
Betting is spread in over 70 % of Africa – Sports betting has been received well in majority of the countries in Africa because most countries have decided to embrace the benefits that come with betting for their respective nations’ economies thus putting in place betting friendly policies that encourage the industry to grow. Projections that show the global gambling market could be worth $635 billion by 2022 have been a further influence.
The average number of people betting per African country – Africa has an average of 45% of each country’s population involved in betting where the craze is active. This shows how much trendy it has become. Countries such as Nigeria, South Africa,Kenya, Ghana lead the way in the betting phenomenon with over 50% active in the industry.
Betting is best done online in Africa – Betting companies that receive payments for bets through online avenues are witnessed to make up to 3 times more than those that choose to set up physical stalls everywhere. This is because the costs of setting up and maintenance reduce the profits – not forgetting that online payment alternatives have proved to be more convenient to use for everyone regardless of location.
Mobile money partnerships are more successful – Mobile money covers upto 85% of Africa’s nations and how they pay. The convenience it provides coupled with the fact that almost everyone owns at least a mobile phone as compared to the number that has bank accounts or those that use card payments shows how much mobile wallets are the in thing.
Africa has the youngest population in the world – with over 200 million people aged between 18 and 24, most of whom have a passion for sport and with it, betting. The fact that the numbers are in the age bracket that appeals to betting has made it flourish.
Strong sports fan base on the continent. – Africa is a sports crazy continent with upto 90% of the people interested in activities of a particular sport. Football (soccer) takes the lead with the highest number of following on the continent, followed by cricket and rugby in Kenya, Zimbabwe, Uganda and South Africa. This has further driven the masses to embrace betting.
Growing internet penetration on the continent – The increased use of internet using gadgets along with widespread use of mobile phones has led to people understanding the betting concept even better, getting necessary information to place bets and keep tabs on sports of interest. This has all boosted betting in Africa.
Payments through Dusupay, the way to go – a platform built by Africa for Africa has set the standards of money movement high. Aiming to ensure that companies receive payments from all pay alternatives Africa offers under a single system has enabled betting companies to spread their activities continent wide. With top players in the game such as Hollywoodbets, 1X Bet dealing with Dusupay have shown the way for other betting companies to follow.
With the above, why would a betting company think twice about venturing into the African market – it is Africa’s time to grow.