A recent report says that Africans have been deeply indulged in gambling for more than half the century and earned quite more than expected.
Are sports betting on the rise in Africa?
From gambling online to sitting in casinos for the whole day, the continent is loving this traditional, profitable, and risky investment of money. It has already reached peaks in many countries and is predicted to soon cover the whole African territory by its immense popularity and interest.
Particularly, Nigeria, Kenya, South Africa has the highest number of gamblers with a record-breaking history of earning the maximum number of bets. This whopping success and daring confidence is the reason for not only Africans but also other bold individuals entering into the gambling market of Africa.
A major portion of this gambler community consists of young passionate individuals who are using their full potential in making sports betting a lucrative source of get-rich-quick. With that being said, let’s head on to explore some significant points proving why sports betting is on the rise of Africa these days.
- Africans love supports
After Europe, Africa holds possession of the top most leading sports country globally. From an 18-year old young to a 40-year adult, all have strong preferences for their favorite sports to bet on. Not only locally but they also play a major role in international sports like betting on several European leagues and battles. This clearly depicts that their involvement in sports is not only a source of excellent entertainment for them but also a great way to learn important sports knowledge that does wonders in winning sports betting.
- Source of revenue
The long-known history of Africa’s poverty-stricken lives and high inflation rates has encountered a powerful impact by choosing this high-profitable source of revenue. Despite being 40% below the poverty line, African’s don’t hesitate to bet their money on this risky investment.
As per a recent study, every 1 in 10 Nigerian spends approximately 300 Naira that is equal to $15 every day.
- Unemployed Africans
As mentioned, Africans that fall between the age of 15 and 24 are college dropouts or poor in academics. This directly leads them to two paths; either remaining unemployed or work on wages for the rest of life or investing a little capital in sports betting and see what comes to you. African’s were smart enough to give their luck a try and build a better foundation for making money for their future generations. If this hadn’t happened in the last few years then unfortunately there would have been 20 million people that means 25% of African population choosing other illegal money-making ways or giving up on life.
Unlike using M-Pesa or crypto, the government of Africa doesn’t mind its people's involvement in sports betting as the betters allow the regulation of laws and share of money in their sports betting. Recently, South Africa has acquired a proper regulated license in the gambling market and can freely bet in homes, casinos, pubs, clubs, etc.
This is what allows gamblers from other countries to pay interest in gambling from South Africa and make money without hassles. Also, Africa's online betting industry is under the regulation by the government and has predictions to acquire a legal license by the end of this year.