First things first, betting establishments should understand what Tanzania is all about, the business make up of the people and the payment behaviour so as to have a service tailored to succeed in the counntry.
Tanzania Sports Betting Background:
- The Population of Tanzania stands at 58 Million People.
- The Youthful Population, majority of whom indulge in Sports betting is at 40.6 million people.
- The country’s GDP as of 2016 is at $47.43 Billion
- The increase in mobile phone penetration and access to the internet has led to ease in betting through mobile money which has encouraged even more people to bet in the past few years.
- From 2014–2016, Sports Betting revenues grew by 95%. (2016 : 12.1 Billion TSH or $5.4M).
- According to the Tanzania Gaming Board, between 2014–2016, the sports betting industry overtook the legacy casino industry by generating over 30B TSH in revenue.
- In the major cities such as Dar es Salaam for instance, one is never more than a few kilometers away from a sports betting agent.
The above gives an overview of how much betting has grown in Tanzania – it is important to note that the switch to payments through mobile money had a huge influence on the sudden boom that the betting industry witnessed.
How best can foreign betting companies accept payments from the locals
Tanzania is a large country which means that setting up stalls to reach everyone around the country is a costly venture. But with the increase in mobile phone usage, payments can now be made online especially through mobile money ( Vodacom Mpesa, TigoPesa, Airtel Money etc ).
The Betting companies coming into the country might not be familiar with mobile money but wouldn’t want distort the locals convenience of payment so how can they go about this conundrum?.
DusuPay provides a platform that businesses can use to collect payments from clients in Tanzania using mobile money. DusuPay enables businesses to receive payments placed on bets from mobile wallets therefore creating simplicity as the locals pay in ways they know while betting companies receive in ways they understand.