Africa is one of the sports betting emerging markets. Infrastructural development by governments has enabled more people to access the internet. Moreover, studies show that football is the most popular sport in the continent. As a result, betting on football is the most popular on the continent. Top sports betting operators have seen the industry’s potential in the continent and are slowly making inroads. Competition amongst the operators ensures clients get the best services, like when going to the easy Betway sign up process, which straightforward encourages more members to join. Reports suggest that countries like Kenya, Tanzania, Uganda, South Africa, and Nigeria lead in sports betting activities.
In this precise piece, you will learn more about the strategies being employed to adopt the sports betting industry in Africa.
Local Regulatory Scene
The African continent has what it takes to be one of the biggest sports betting markets. For example, there is the prerequisite infrastructure, and people love sports. However, one of the industry’s main hindrances in the continent is regulation.
There is no legislation regulating online sports betting in many counties, hence preventing online sportsbooks operators from making inroads. East African countries like Kenya and Uganda have put in place laws that govern online sports betting. However, operators are struggling with the issue of high taxes.
In Egypt, online sports betting is not regulated, while in Morocco, all forms of gambling are legal. On the other end, South Africa’s online sports betting is also regulated.
Nevertheless, for the industry to reach its potential on the continent, there is a need to come up with legislation to regulate the industry across the continent. Such a move would give international operators like Betway more room to expand.
Reports also suggest that new entrants in the African sports betting market struggle to find payment methods. However, mobile payments have become a popular payment method among many operators. Additionally, the operators also claim that mobile payments also enable them to reach the unbanked Africans.
The operators also claim that many Africans don’t have access to financial services. As a result, alternative payment options have become critical. For instance, M-Pesa is one of the most prevalent mobile-money platforms. It is also very popular in the sports betting industry.
Foreign investors state that the movement of money remains a key challenge when trying to enter the African market. Therefore, for the development of the industry, there is a need for telcos and gambling operators to engage.
Converting Mobile to Retail
In the past few years, mobile sports betting has been on the rise. As a result, gambling operators have to think about moving their services from retail to mobile. Users prefer betting on the go, and having an app like the Betway sports betting app has become a must.
As a result, industry operators must ensure they develop the best mobile solutions for their clients. The operators should also make use of data analysis tools to offer players more personalized services.
Moreover, mobile betting apps act as an excellent marketing tool. Therefore, having the right marketing strategies will also go a long way in promoting the industry in the continent.
There is massive potential for the sports betting industry in Africa. There is a need for sports betting operators to team up with local governments to create a friendly environment for the industry to thrive.