Before the advent of live streaming technology, Sports lovers had to tune into cable networks to watch matches. Sometimes we had to walk or drive some metres to an entertainment spot to watch matches of great importance. Despite the amount of fun we had in those activities, we now realize that even more fun comes with the technology that makes things easier.
Live streaming has become a highly important part of sports betting in recent times. This technology is so integral to the art of betting that it has seamlessly permeated all gambling regions of the world. Punters livestream sports competitions from Europe to North America and Oceania, from Asia to Africa and South America.
In some regions such as Europe, North America, live streaming is available from top-tier leagues to lowest divisions leagues. However, this is not the case in some other regions, such as Africa. This brings our focus to how African bookmakers can leverage live streaming to drive business growth.
What is Live streaming?
Live streaming technology allows punters to watch an on-going match on their device from the bookmaker’s website. Once the punter has fast internet data and a smart device, they can sit anywhere and watch the game on a betting site. Instead of getting an active TV subscription to watch their favourite matches, many punters are turning to live streaming.
Some bookies personalize this experience, such that bettors can have access once they log in to their account dashboard with game suggestions. On some other sportsbooks, popular matches are displayed on the homescreen for punters to livestream.
The Big Players and Live Streaming Technology
Live streaming has given way to a massive improvement of offerings at sportsbooks. Following the general popularity of football, top operators started implementing live streaming with football. Punters immediately seized the opportunity to do everything in the same space.
While this new technology was being explored more in Europe, more live stream additions soon began to hit other parts of the world. Particularly, US-based operators commenced implementing the technology with basketball betting. With a large increase in betting on other sports such as horse racing and cricket, other big operators started adding live stream software.
Today, as live streaming is available on such big sites, it has opened up in-play or live betting, cash out, etc. The result is increased market share, marked by massive expansion into other regions.
Sports Betting Live Streaming in Africa
As stated above, Africa is one of the regions where some of the big operators have established their presence. Although there are millions of gamblers in Africa, the African gambling market is largely untapped.
If you factor in land-based gambling in the region, you will find that annual revenues reach up to $6 billion. Yet, most live streaming sites are owned by the same big operators in the picture in Europe and North America. It is worthy of mentioning that some indigenous operators in Africa’s biggest markets – South Africa, Nigeria, Kenya, Uganda, Ghana – offer live streaming.
With regulations slightly favouring such indegnous operators, many still don’t offer live streaming to players. The few operators that offer this feature in leading markets also tend to have a significant market share.
Since live streaming is almost always available at the big offshore operator sites, they now make up a huge chunk of the market. This alone shows that operators with all-encompassing sports technology offers have a big edge over those who don’t.
Why Live Streaming is a Big Deal
Live streaming is not so common in Africa and non-African operators that offer it alongside exciting odds, also have huge followership. The following points demonstrate why live streaming should be strongly considered by African operators:
Live Betting
Live betting enables punters to gamble on a match that is being played. One of the hallmarks of live betting is that odds increase or decrease according to the game’s trajectory. Thus, punters make a decision that suits the game in action.
Live streaming and live betting are inextricably linked, as bettors make decisions better when they follow a game via live streaming. This is why more African bookies need to implement live streaming – it has the capacity to increase bet volumes.
Of course, cutting-edge technology is required to activate this feature, but once done efficiently, an increase in market share could follow suit. Live streaming and live betting comprehensive betting offerings that capture more and more punters with each experience.
Cash Out Betting
One other feature attached to live streaming is cash out betting. Not many indigenous operators offer cash out to bettors, but the vast majority of big offshore and local operators offer it. Through cash out, betting operators allow punters to withdraw a fraction of their bets, most times slightly bigger than the deposited amount.
At a site offering cash out options (which can be total or partial), bettors usually easily keep tabs on every event with live streaming. In turn, such bettors prefer these cash out sites that help them save what they would otherwise lose without cash out.
This is another reason why more African bookmakers need to implement live streaming.