Why Sports Betting is becoming a Browing Concern in Africa

Sports betting across Africa has grown exponentially over the last years, according to Statista, market revenue is expected to reach $1.21bn by 2029. However, there are concerns surrounding sports betting and what the continued growth of the industry actually means for the populace. Are the positives greater than the negatives? Who’s actually winning from sports betting in Africa?

The true economic and financial influence

Many African countries have relatively low per capita income levels, This means most people don’t have any disposable income to set aside for a gambling budget. And for a lot of the population, sports betting is a way to supplement that income. Its promise of quick and large returns is an attractive prospect for those suffering financially.

However, many often end up losing a chunk of their income, or maybe even all of it. In reality, it’s not as easy to make money from betting as it may seem. You win today, but you’re likely to lose multiple times before getting lucky again. You ultimately end up with cumulative losses.

Targeting the young population

Sports betting companies use some of the most aggressive marketing techniques and their primary target is none other than the African youth. From the push towards online betting to the introduction of instant virtual games in betting shops and the incessant ads on social media, this omnipresent marketing has normalised betting and increased its appeal to young people. This can often have devastating effects on their education and career prospects, not to mention make them susceptible to gambling addiction.

Lack of adequate regulation

Only a few countries like Kenya, South Africa, Uganda, and Ghana, have been able to put laws in place to maximise the potential of the sports betting industry and protect bettors. All legal bookmakers in these countries must be licensed by the relevant authority in order to operate in the country. Nigeria is also one of the top African markets with regulated sports betting, and there are lots of secure betting sites Nigerians can trust, both homegrown and foreign.

Many other African nations still lack adequate regulatory frameworks and are plagued by exploitative and illegal betting. Where there’s no regulation, it’s hard for the law to protect bettors from offshore bookmakers looking to scam customers, further complicating the other concerns around sports betting in Africa.

Africa’s love for football is certainly the thread the betting industry tugs on. At the best sites, there’s massive coverage on top footballing leagues. Bonuses and odds boosts are also often offered on big games to further attract punters. While sports betting has brought benefits like increased revenue to the nations and maybe even created job opportunities, it’s worth considering that its effects on individual bettors – including the highly susceptible youth – may be less than ideal.