In-Depth Analysis of Africa’s Betting and Gambling Industry by SBC
The nature of Africa’s betting and gambling industry seems quite difficult to evaluate. Unfortunately, most betting and gaming industries in Africa are not regulated or, most often, poorly managed.
No wonder the SBC Digital Africa conference and exhibition promises to deliver an in-depth analysis of the African betting and gaming market. What’s more, this conference will give investors an idea of what to expect and whether the market is viable.
The SBC Digital Africa conference is set to commence from 30th to the 31st of March, 2021. With more than 60 speakers and 1500 people expected to attend, the conference and exhibition promise to be informative.
Agenda and Discussion Expected to Hold at the Conference
It appears that this second edition of the SBC Digital Africa’s conference and exhibition is somewhat different. A host of 60 experts who have experience working in Africa’s betting and gambling industry will attend. Aside from that, the following schedule will form the major highlights at the conference:
- Established South Africa Track: Although the focus will be the Rainbow Nation, the focus will be shifted to other Southern African countries. The aim here is to share the successes made by the betting and gaming industry in South Africa. Also, the next step for land-based casinos considering the pandemic. Speakers will talk over how to prevent fraud in lotteries. This will form most of the discussions on the day of the SBC Digital Africa conference.
- East Africa Opportunities: On the first day, the betting and gaming opportunities in East Africa will also form part of the discussion. Kenya and Uganda would be the main focus. Nevertheless, the virtual games tax introduced in Tanzania will also be discussed extensively.
- Emerging West Africa: On day two, the focus would be on West African countries like Nigeria, Ghana, and Cote d’Ivoire. The betting opportunities and regulations in West Africa will form part of the conference.
- Payments and Players: Speakers will talk about issues relating to the payment methods and players. Also, matters relating to the role of local retail betting outlets will be highlighted here too.
Is Africa’s Betting and Gambling Industry a Viable Market?
The CEO of SBC, Rasmus Sojmark, answered this question in an interview with reporters. According to Sojmark, Africa offers a great opportunity for the betting and gaming industry. The CEO hopes that through the conference, operators will understand how to grab the various betting and gaming opportunities that are untapped in Africa.
Aside from that, countries like Nigeria have a younger population. Also, betting and gaming are highly popular among their 18-40 years old population. Considering the increase in the number of people who can access the internet, there is potential for more African bettors.
Nonetheless, in most African countries, land-based betting and gaming venues are non-existent. South Africa and Kenya are the few countries with a few land-based casinos. Nigeria, with a huge population, doesn’t have a land-based functional casino industry.
Possible Hitches That Operators Would Face
Like other parts of the world, Africa has challenges that are peculiar to its region. For instance, most parts of Africa are not connected to electricity. In most cases, to run a land-based casino in most parts of Africa, you need to generate your electricity.
Furthermore, poor internet connection is also a major challenge. Although data connection has improved, some areas in Africa still have challenges.
Besides, some government policies are not betting and gaming-friendly. In some African countries, betting and gaming laws are ambiguous. Therefore, clearer gambling laws would help investors know their limits.
The Online Gambling Industry in Africa
No doubt, the online industry in Africa is doing well. However, most of the online gambling sites in Africa are operated from a foreign jurisdiction. Most online casinos are licensed and regulated by foreign licensing agencies. For instance, the UK Gambling Commission and Malta Gaming Authority licensed and regulated most of the casinos operating in Africa.
Also, the COVID-19 pandemic provided an opportunity for more Africa players to explore online betting. More so, indigenous online betting companies that operate in Africa are very few compared to their foreign counterparts.
Africa’s Betting and Gaming Industry Future Prognosis
Frankly, the betting and gaming industry in Africa has the potential to grow faster than in Asia and other continents. But the hitches seem insurmountable because of the unfriendly betting and gaming policies in some African countries.
However, countries like South Africa, Nigeria, Kenya, Ghana, and Uganda have taken the lead. Nonetheless, areas such as the ambiguity of the betting and gaming laws need to be clarified.
Finally, betting and gaming operators need to tap into the various opportunities in the African market. Although it may be difficult, it would pay off later.
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