Specific surveys show that roughly 60 million Nigerians between the ages of 18 and 40 are involved in active sports betting. On average, these punters spend around 3,000 Naira (about $15) every day on bets.
In South Africa, government statistics show more than half of the adult population is involved in gambling activities, predominantly sports betting, on a regular basis.
This trend is particularly similar when it comes to West, Central, East and Southern Africa – the combined size of the betting market in Kenya, Nigeria and South Africa is projected to be worth nearly $37 billion by 2018.
The above shows a small slice of the potential that Africa’s betting cake has to offer. Nonetheless, global betting brands need to understand the following about Africa’s betting industry :-
- Physical stalls set up in every country to attend to betting customers is a thing of the past ; with the internet, close to zero people still go to these branches when they can open up online accounts where they can view odds, pay online and collect winnings. Not to mention that stalls increase on the cost of venturing betting companies.
- Africa has a plethora of online payment alternatives divided according to country / regional legislations and networks in place. Mobile wallets are what is used by the majority however banks and card payment systems have a significant portion of the market for instance in Nigeria and South Africa.
- Despite Mobile wallets being the largest payment mode in use – mobile money is distinguished according to what network is in a given country i.e Mpesa in Kenya, MTN mobile money in Uganda, Rwanda and Cameroon, Airtel in Ghana and Uganda, Vodacom and Tigo Pesa in Tanzania etc.
- South Africa and Nigeria have a well organized banking set up therefore opting to use services such as online banking and cards such as Visa and Mastercard.
- Internet penetration on the continent is rising at a steady rate annually with projections that 80% of Africa will be “online” by 2030 meaning that everything shall be done online making physical cash handling outdated.
- Betting in Africa is on a steady rise with people involved in the phenomenon growing per day due to the increase in the number of youths on the continent.
What does this show
First of all betting is on high demand in Africa.
Secondly Africa has a payment web that possesses many alternatives which make collections and payouts for betting companies tricky if not done with proper guidance.
Finally, DusuPay presents Africa with a significant, secure, simple and fast infrastructure that enables betting companies collect money through one payment avenue regardless of the various payment modes the clients are on. The same goes for paying out winnings to clients – More about Betting companies and Online gaming with DusuPay.