African sports betting
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This has led to the rising popularity of online sportsbooks such as Betway, which is managed by a Malta-based company called Betway Limited. Sports betting at Betway is safe and secure as it operates under a valid license granted by the UK Gambling Commission. Africa is home to a number of sports betting advocates who say that it creates job opportunities to a large number of young Africans while enabling bettors to make some quick money, generating tax revenue for the government, and contributing to the economic growth of several African countries.
Reasons for the Rise of Sports Betting in Africa There are a number of reasons why Africans in larger numbers are spending large amounts of money on sports betting. Offshore operators of sports betting services are getting attracted to Africa in large numbers for very good reasons. Here are some of those reasons: High Population of Unemployed Youth More than million people in Africa are in the age group of 15 to 24 and a large number of them do not have jobs.
In addition, the population of Africa is believed to become twice as big by and the continent will have the world's largest youth population. The sports betting industry gives these young people an opportunity to earn as they enjoy their favorite sports events. Great Love for Sports Africans are crazy about sports. Although football has the largest number of fans, cricket also has its fair share of followers. In Zimbabwe, South Africa, and Kenya, rugby also enjoys a great deal of popularity.
European football leagues in general and the Spanish, English, Italian, and French leagues in particular have African fans in millions. Africans also love placing bets on sports such as hockey, basketball, tennis, car, boxing, horse races, motorcycle racing, and other sports. They are especially enthusiastic about placing bets on outcomes of matches, number of goals, players who score the most, and so on.
It is this African craze for sports that makes its sports betting industry one of the most lucrative in the world. Lenient Sports Betting Laws European and US sports betting companies are fast expanding into Africa because of the lenient sports betting laws in most African countries. In fact, South Africa is the only country that has properly regulated its gambling market. In most African countries, gambling laws are new and the fledgling industry is not yet regulated.
This continent has a population of over 1. Also, according to the conducted research in the age group of 18 to 40 years, it was determined that 60 million inhabitants of Nigeria are actively engaged in sports. Data from the South African government indicate that about percent of adult South Africans regularly wager on sports. The situation is the same in central, eastern, and western Africa.
Due to the rather lenient laws in the field of the wagering industry, American and European companies are rapidly expanding their business on this continent. Wagering laws are mostly new in many African countries. Given this, the online wagering markets are not yet fully regulated. South Africa is the only country that has properly regulated its online betting industry. Many foreign betting companies have focused their services on the African market.
Due to the huge competition, betting companies spend a lot of money. It is a fact that Africans are quite passionate about sports, but marketing activities have been of great importance as well. We will note that the wagering industry also offers employment opportunities. This market provides an opportunity for many Africans from poor regions to find work and start earning money.
Traditional sports wagering has been quite limited. Players were unable to place bets at physical bookmakers across the continent. Also, access to cheaper smartphones, the expansion of the use of internet services, as well as lower data costs have led to a boom in online sports wagering in Africa.
The development of mobile payment methods has contributed to the increase in the use of mobile devices as well. One of the well-known mobile payment systems on this continent is M-Pesa. M-Pesa has been a milestone for many industries since its founding in the s.
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