Africa is a continent that is rich in huge deposits of materials both human and raw materials. The continent is home to precious jewels, black gold, exotic animals and most importantly, a vast number of people. Africa is blessed with millions of young people over 420 million of them aged between 15 and 35. This is a valuable resource material that can be tapped by industries and in recent years, the gambling industry has taken the continent by storm.
One of the most popular forms of betting is sports betting which has gripped countries like Nigeria, Senegal, Ghana, Uganda, Kenya, Tanzania in recent years. There is a steady rise in the number of individuals who engage in betting in most of these African nations.
One factor which has spurred the growth of betting in Africa is the internet. As technology advances, the ability of most Africans to have access to the internet at very cheap rates, increases. This is further enhanced by the developments in the smartphone manufacturing industry which see affordable smartphones been purchased by most Africans. The combination of readily accessible internet connections and the smartphone has made betting easy and a lifestyle for most Africans in these nations.
This easy access and growth in technology is further aided by no strict laws and regulations regarding the business operations of these betting sites. In nations like Nigeria, the regulations to get a betting site up and running isn’t strident. With the presentation and signing of the required documents, payment of fees stated, a betting site is up and running. Not only do they operate online, they also have a brick and mortar building which individuals can walk into and place bets. The government does not have strict laws that regulate which gambling sites the citizens can have access to. As long as the site is accessible to Nigeria, you are free to bet on it. You can bet through this link.
However, the African nation which gambles to the most might be difficult to ascertain as there are different local betting platforms that exist in these nations alongside the international forms of gambling which are gradually becoming popular. Taking Nigeria as an example, this most populous black nation has different modes of gambling. Though the placing of bets revolves around sports, especially football, there are many other forms like lotteries, which are played mainly at the local level. These lotteries are not run by the government but by small or medium-sized firms that have the license to run such games. The price of buying into such games is as low as 1 penny. This makes it an attractive form of gambling for most of the citizens who are economically poor.
The probability of landing huge winnings or the jackpot in these lotteries or lucky draws as they are called is pretty slim. This is another factor that fuelled the introduction of betting on sports both local and international. Presently in Nigeria, the placing of bets is centered around international football. Football competitions played in Europe are an all-time favorite. Most individuals place their bets on football leagues like the premier league, the UEFA champions league, the world cup. Depending on the football teams at play or the country at play, the odds given for these matches are favorable enough to see a consistent rise in gamblers in the country.
Most of the bets these individuals place are decided by the player and the amount of money placed on the bet is also decided by the player. The is, however, a minimum amount which the player can bet. The odds are given by the betting site and a player can pick as many odds as possible. The overall amount in which the player wins will depend on how many of the odds selected and bet placed will be the right prediction. In using this form of gambling strategy, most players stick with placing their bets on football teams which have a history of winning most of their matches. Although the tide could turn for any team in a game of football, most top teams in Europe are known for their consistency in winnings their matches which makes them great odds to place a bet. However, the odds of such games might be low because of the high possibility of most favorite teams winning their matches.
Another major factor that sees the steady rise in the rate of gambling in most African nations in the support of football. Most Africans have a love for soccer in their veins. It is a sport that is played from really young ages and it a huge industry which has been tapped into. This industry is a multi-million dollar industry right now. In 2018, it is said that the combined worth of the gambling industry in the African nations of Nigeria, Kenya, and South Africa reached a projected worth of $37 billion. The figures for 2019 will definitely exceed this because of how attractive the industry is.
The easy access to the internet, affordable smartphone and electronic gadgets, low cost of placing bets are just some of the major reasons why gambling thrives in Africa. The one factor though which covers all these is, Africa has the youngest population in the world. With over 420 million Africans within the age range of 15-35, the gambling industry has a ready market in Africa. Although, this is also underscored by the high unemployment rate in the continent.
A combination of readily accessible gambling platforms, the high number of youths and an equally high unemployment rate make Africa fertile ground for gambling. Most youths in the continent engage in this activity as only 1 out of 6 African youths are gainfully employed. They view gambling as a means to find their way out of poverty and some individuals use it as a means of daily survival.
In Nigeria, there is a projected amount of $5million spent daily on betting and this amount will increase as the possibility of betting $1 to win $500 remains.