Betting in Africa has evolved from a favorite pass time activity to a main economic activity to many. There are people living off the proceeds of betting on this continent.
Sports betting is literally taking over Africa. Sports is no longer just about entertainment.
The size of the betting market in Kenya, Nigeria, and South Africa combined was projected to be worth nearly $37 billion by 2018, according to a 2014 Gambling Outlook Report carried out by PriceWaterhouseCoopers.
In Nigeria, for instance, of the entire population, about a third or more than 60 million people aged between 18 and 40-years gamble according to the Nai Polls research.
In Kenya, a recent study revealed that 76 percent of the youth are engaged in betting. The multi-million dollar industry has been dominated by a number of both local and international sports betting firms such a Betway & SportPesa. Recently, a crackdown by the government saw a number of betting firms having their licenses suspended.
The penetration of the internet across Africa and mobile money transfer and payments platforms such as MPESA in Kenya has revolutionized the industry making it easily accessible.
The sport betting companies develop sites and apps that can be accessed from the comfort of the punters’ device. From the online platform, a punter can easily deposit cash, place their bets, and withdraw their winnings.
The multiple ways in which sports betting have been packaged reveals the captivating facet of the practice.
Nowadays, it’s possible to bet on just about anything sports-related or all sorts of propositions for instance a person can predict the outcome of an event such as a corner kick, a penalty, or who to score next in real-time.
For those not wishing to bet on other aspects other than the results, the Total bets, also known more commonly as the over/under bets, come in handy.
In this, a punter can lay a wager on what the combined score/points will be at the end of the game.
Words such as GG, Over, and Under are now amongst the well-mastered terms even amongst the young ones.
Additionally, the proliferation of different betting firms competing for limited customers has occasioned the advent of strategies aimed at attracting and retaining customers.
Registration strategies such as welcome bonuses, free games, and giveaways are aimed at enticing new punters.
Some lucky punters have scored big in betting within the continent such as Samuel Abisai of Kenya who won slightly over two million dollars after he had placed a multi bet on the correct outcome of 17-matches popularly known as the Mega Jackpot.
Others have been able to use their winnings to advance their lives by constructing houses, starting businesses, and even paying their children’s school fees.
However, a large majority have ended up becoming addicted to betting with some using all their time and resources in betting.
Many marriages have been broken and property lost as a result of gambling addiction in the African continent.
Some Non-Governmental Organizations have taken up the initiative to try and sensitize the masses on the perils of betting hence saving families from having to deal with the adverse effects of betting on their loved ones.
