An Industry at Growth: Sports Betting in Africa
Sports betting has been a mode of recreation and business since time immemorial. Africans too have not been out of this. Especially with the advancement of technology, many betting sites accept that online betting sites are becoming more and more popular.
The betting sector of Africa is growing very steadily. Experts even believe that they have the potential to change the economy of the African continent if taken seriously. At mfidie.com, we regularly curate more such information regarding Africa for you, check out!
Currently the sports betting scenario in Africa allows you to bet only in football matches and during horse-racing. Horse-racing has been a favorite of the north Africans from as long as the fifteenth century. Africans have been wagering on football for around 70 years as well. So, betting on football has become more accessible. Visit Bet9ja to know more about the best betting sites and where you should put your money!
There are quite a few reasons why the betting business is slowly but steadily growing in Africa:
Africans love sports
Africans, in general, love sports despite the fact that football is definitely the most loved one. However, they do watch cricket, rugby and definitely athletics with utmost enjoyment too. In fact, the African youth are big fans of the FIFA events and the European leagues. One always finds them in groups in local hotels and bars during any match. Now, these leagues give them a lot of opportunities to place their bets on. The most popular league is probably the EPL. So, they put their wagers on leagues like the EPL, La liga, UEFA Champions League and so on and so forth.
Youthfulness amongst the potential customers
The chief source of income of the African betting sector comes from the youth of Africa. As per reports, more than 200 million Africans belong to the age groups between 18 and 24.
So firstly, since they are young, they are passionate and carefree. They will indulge in bets without thinking about it much. Secondly, even in underdeveloped countries, they will be the ones who are most adept in using smartphones and hence the online sportsbooks.
Betting sites take on this advantage to provide the youth with strong online platforms for betting. Moreover, excessively high levels of unemployment in the continent have pushed the youth to gamble such that they can use it as a source of income.
Growing because the sector is still at a very basic level
Sports betting in Africa has definitely yet not reached its highest peak.
Countries like South Africa, Nigeria, Ghana, and Kenya have taken the game a little ahead of other countries. However, governments still need to find out proper regulations to manage the betting market and make them a significant source of revenue.
In 2018, as per reports, Nigeria, Kenya, and South Africa obtained 40 billion USD.
Sports betting has become more and more popular than it was even two years ago. One main reason is that many online betting sites follow international standards of jurisdiction. So, grab this opportunity and bet now!