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Even though the European online gambling market is the most profitable in the world, the iGaming industry in Africa especially in South Africa has been thriving for many years.roegatecollege.com The most popular form of gambling in Africa as well as in South Africa remains sports betting especially football sports betting. In addition to South Africa, Nigeria and Kenya also have quite lucrative iGaming markets that are dominated by sports bettingso African sports bettors have great options at their disposal at all times.
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As estimated back in 2018, South Africa, Kenya, and Nigeria reached around US$ 40 billion in their iGaming markets value and this number has been growing.arbitragesoftware.net When compared to other iGaming markets in the world, the African iGaming industry has been growing steadily for years and it most certainly brings very positive changes to the entire African economy.
Today, the most popular sports betting activities in Africa are betting on horse racing and football. Africans are huge sports lovers so it is not surprising that more than half of adult South African residents enjoy online sports betting activities. Several studies conducted also revealed that over sixty million adult Nigerians also enjoy such activities. While many Africans are fans of football and horse racings, other sports betting markets such as rugby and cricket are also popular.
The Fastest-Growing African Sports Betting Markets
Few African countries are leaders when it comes to their profitable iGaming markets and these include Nigeria, Kenya, South Africa, and Ghana. Even though millions of Africans turn to online sports betting activities, these markets are yet to reach their peak due to missing regulations in some countries. One of the biggest factors driving the growth of the African iGaming market is doubtlessly the fact that the majority of residents of Africa are very young. However, some countries like Uganda are working on banning betting altogether, due to potential adverse effects it may have.
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Some reports suggest that there are over two hundred million Africans between the ages of eighteen and twenty-four. This leads us to mobile betting which remains the dominant betting option among young Africans who have no issues with using their portable devices to engage in sports betting activities. There is a strong connection between the rise in gambling activities among African sports bettors and the increased usage of smartphones. Some of the major factors driving the African mobile betting industry are:
The Rise of Mobile Betting in Africa
For several years now, betting in Africa has been on the rise and this does not come as a surprise considering that Africans are huge sports fans. At the same time, there are some other factors that are contributing to the rise of mobile betting here. One of these is the fact that many young Africans do not have active bank accounts but they use mobile money. Many popular mobile phone services such as Airtel, Safaricom, and Telkom also offer mobile money services.
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Many of these services including Airtel Money, Mpesa, and T-cash work side by side with online sports betting companies in the first place Betway. This makes it very easy for African players without active bank accounts to make transactions using mobile money services.
In addition to the convenience related to using mobile money, Africa has the most youthful population and young tech-savvy Africans know how to make bets whenever they want using their smartphones. When other factors are added including high unemployment rates and rather relaxed iGaming regulations, there is no wonder why mobile betting activities in Africa remain the dominant betting option for Africans.
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