Africa today has become a major hotspot for sports betting and gamblers alike. But this wasn’t possible until just a few years ago. Prior to this time, the now billion-dollar industry operated in skeletal forms, consisting mainly of a few underground channels. Today, the industry is massive and is still growing.
The explosion in the sporting betting market can however be attributed to a host of factors. For one, we live in the era of the smartphone, making it relatively easy to have access to different online betting platforms. Betting has become a seamless and ubiquitous pastime as it is equally a new source of income. But it doesn’t stop there.
It can also be said that the popularity of sports betting in Africa can be likened to the teeming youth population ranging age 18 to 35. This age bracket forms a large percentage of the continent’s market and labor force. That said, there is still a great number of factors that explain the phenomenal popularity that sports betting enjoys on the continent.
Reasons Sports Betting Is So Popular in Africa Right Now
Below are four main reasons sports betting is spreading like wildfire in Africa. They are as follows:
1. Passion for Sports
Africa, just every other continent, is known for its love for sports. Soccer to be precise is the most popular sport viewed and enjoys by millions across the continent. The passion for the game is obvious as is the many businesses and enterprises that have grown an impressive portfolio from its followership.
While soccer in itself has always been a strong form of entertainment for Africans, the coming on board of sport betting platforms has taken it to a whole new height. The average African youth does not just keep up with soccer as a form of entertainment, he or she now sees it more or less as an avenue to earn cash.
This has been the trend for the last 5 to 10 years now and doesn’t show any signs of stopping any time soon. Tantamount to the alarming increase in sports betting popularity, more and more platforms are seizing the opportunity to tap into this golden market. Hence, more platforms, better offers, and more wagering options.
2. Youth Unemployment
Africa is a continent made up predominantly of a budding youth population. But the irony remains that there is still a huge unemployment rate in the continent. With little to no job opportunities, these young ones have to find alternatives means to earn a living. Sports betting is consequently one of such means.
Since the industry went mainstream, youths in Africa have seized the opportunity to win different monetary prizes on on-and-offline platforms. Armed with in-depth knowledge of different sporting events, more and more people are patronizing sports betting platforms to wager on their favorite tournaments.
European sports soccer appears to be the most popular of all tournaments offered on such platforms. And with soccer fixtures available for most days of the week, there is ample opportunity for these youths to earn side income for themselves.
3. More Lenient Laws on Sports Betting
Africa has become a new market for sports betting companies trying to escape the harsh betting laws of the US and parts of Europe. The continent of Africa is popular for its very lax laws concerning sports betting. With enough incentives also on offer, it has given rise to the explosion of foreign betting platforms trying to get a piece of the African market.
Nonetheless, there are still indigenous companies offering players a chance to earn money on their platforms. Together with their foreign counterparts, there is no shortage of options when it comes to how and where Africans chose to cast their bets.
4. Internet Connectivity
This has been, for the most part, the biggest factor that has contributed to the growth of sports betting in Africa. Internet coverage has given rise to swift access to online platforms. The explosion of mobile phone usage has also contributed great ways to the betting trends in Africa. Without having to leave the comfort of their homes, Africans now bet at the convenience of their mobile devices.
Some sports betting companies now partner with big mobile network providers to offer more seamless and qualitative services to their customers. Typical examples of this kind of arrangement include Orange Money, Airtel Money, and M-Pesa.
Final Thoughts
It is fairly obvious that the African market is rife with golden opportunities for sports betting. We only chose to discuss four significant factors behind its explosive growth. But the reasons by far outstretch those aforementioned. Sports betting is home to stay and doesn’t appear to quit anytime soon. For players, it is an opportunity to earn loose cash while for corporate entities, a new capitalist route for a huge return on investment (ROI).