In Africa, many people are passionate about sports and some of the popular ones are soccer, rugby, cricket and basketball. It is not surprising that the continent’s sports betting industry is booming and is expected to grow exponentially over the next few years.

Introduction of Mobile Betting.

Bookmakers took advantage of the mobile betting platform by developing dedicated apps for  Android and iOS. The majority of Africans over the age of 18 own or have access to a mobile phone, allowing them to register with one or more betting companies. Mobile betting also allows fans to bet on sporting events from anywhere they are.

Implementation of Mobile Money.

Another factor of Africa’s great development can be attributed to the tremendous growth of mobile money. MPesa by Safaricom was launched in the early 2000’s and served as a turning point for a variety of industries long before today’s betting industry existed. MPesa and other mobile money platforms are working with several bookmakers to provide their customers with faster mobile payment services, in addition to other options like MasterCard, Neteller and skrill.

The global gambling market continues to grow at a fast pace. Concerns remain, but there is an argument that the gambling industry can be beneficial to a country if it is well regulated. According to The Business Research Company, the global gaming market is worth about $ 565.4 billion and is expected to grow by 5.9% annually through 2022. Everything shows that the gambling industry is booming around the world, and Africa is no exception.

This includes significant growth across the continent, where the sports betting market continues to grow rapidly. In South Africa alone, sports betting GGR surpassed $ 600 million last year.

The African sports betting industry has not yet reached its peak. Some countries like South Africa, Nigeria, Kenya and Ghana are just a few of the countries that have made great strides. Meanwhile, the government has yet to find an effective way to regulate the online gambling industry. In the future, more governments are expected to enact regulations and more businesses are expected to enter the market.