Africans love sports, with football arguably the most popular sport. In the recent past, sports events are no longer just a source of entertainment but also a way for them to make some money.
Africans love sports, with football arguably the most popular sport. In the recent past, sports events are no longer just a source of entertainment but also a way for them to make some money. Punters take to online sports betting sites like Betway to place their bets on various sports events. The continued rise of online sports betting in Africa has been attributed to several reasons. This article discusses some of the reasons behind the online sports betting craze in Africa.
Love for Sports
Africans love sports. It is believed that football is the most-loved sport in Africa. In many countries, you will find African youth following their favorite leagues with friends. They have formed small groups that discuss betting strategies to ensure they win big from the available markets. Some of the most popular football leagues in Africa are the English Premier League, La Liga, Serie A, and Ligue 1.
However, other sports also have a considerable following in Africa. For example, rugby is also popular in countries like South Africa, Kenya, and Zimbabwe. You’ll also find Africans placing bets on Hockey, boxing, motorcycle racing, among other sports. The love for sports in Africa has played a significant role in the rise of online sports betting in the continent.
High Unemployment Rates
According to reports, there are over 200 million youths in Africa. Also, a considerable number of these youths do not have jobs. Most of these youths have taken to sports betting as a way of earning their daily bread. In many urban centers, youth depend on sports betting on sites like Betway to take care of their needs.
According to reports, the youths find it easy to begin sports betting than any other business. All one needs is a smartphone, an internet connection, and some small cash. With the African population projected to double by 2050, the online betting craze will continue for a while.
The mobile phones penetration in Africa is high. Nowadays, you’ll find people with mobile phones in the most remote villages. Online sports betting companies like Betway have taken advantage of the mobile phone penetration to offer punters mobile-friendly betting sites and mobile betting apps.
Furthermore, the companies have partnered with leading mobile phone networks to link with their mobile money services. For example, in Kenya, the sports betting companies have partnered with Safaricom’s M-Pesa making it easy for punters to deposit and withdraw their money.
Relaxed Sports Betting Regulations
International sports betting companies can quickly put up shop in African countries because of welcoming sports betting laws. Most of the African countries have not adequately regulated the online sports betting market. Online sports betting is still a new concept in many countries, and they are still grappling with how to control it.
You should expect online sports betting to continue rising in Africa because there is still a lot of potential. However, you’ll also see many African countries trying to come up with ways of regulating the industry. More sports betting companies will also be involved in many sports sponsorship deals to endear themselves to the locals.