The Rise Of Online Betting In Africa
With Africa being a sports-crazed continent, there are millions of fans who loyally follow football, cricket, basketball, and rugby, to mention a few. However, sports events aren’t the only source of entertainment for Africans. Most sports enthusiasts in the continent also enjoy sports betting in Betway, which is not only entertaining, but it also offers the opportunity to turn a profit doing what you love most – watching sports.
Interestingly, over 35% of the African population lives below the poverty line. Nonetheless, Africa remains one of the most lucrative markets for sports betting in the world, primarily due to the allure of quick money and high levels of unemployment. Here are a few more reasons why online sports betting in Africa is on the rise:
Why Online Sports Betting In Africa Is Growing
While a considerable number of Africans still live below the poverty line, there are several factors why most of them engage in sports betting. Some of the reasons why most African bet on sportsbooks like Betway include:
High unemployment rate among the youths
In Africa, over 200 million people are aged between 15 and 24 years, and a considerable number of them don’t have any job. In some countries, the unemployment rates are as high as 25%, with the population expected to grow twice as big as it is right now by 2050. As a result, sports betting seems to offer an excellent opportunity for these young people to earn some cash while enjoying their favorite sports.
Great love for sports
Though soccer betting has the most fans, Africa is a sports-crazed continent with a fair share of followers in cricket, rugby, basketball, and boxing. Most people also enjoy betting on hockey, motorcycle racing, horse races, tennis, and other sports. Their love for sports makes the African sports betting industry among the most lucrative in the globe.
The popularity of mobile betting
With the use of mobile devices on the rise, more and more Africans are starting to discover the joy of betting on the move. Today, betting operators in Africa are partnering with top mobile phone providers to connect mobile money services like M-Pesa, Airtel Money, and Orange Money with the betting products. As a result, more Africans can easily bet at the comfort of the tablets and mobile phone screens.
Lenient sports betting laws.
In online sports betting, most countries lack the proper regulation guidelines to limit the phenomenon. In other African countries, the betting laws are also too lenient to discourage the activity, which has let to hundreds of sports betting operators offering their services in the region. However, some countries have imposed a ban on sports betting, making it illegal for their citizens to place bets.
In Africa, the rules and regulation of online sports betting is still an ongoing subject in most countries. All the 54 states have different laws governing the market, with some allowing the activity, while others have entirely banned gambling. Nonetheless, sports betting operators are always looking for new ways to increase their customers in a market that’s continuously rising.