iGaming is rapidly gaining popularity across the globe. It is rapidly rising in popularity as one of the most profitable business opportunities available, while simultaneously drawing the interest of gamblers and players from all corners of the globe. It’s not difficult to understand why.
Players find it extremely appealing to have the excitement of the game in their pocket rather than having to pay for transportation to and from the casino. They also like the convenience of being able to play at their leisure. Recently, there has been a relaxation of formerly strict controls on internet gambling, which has enabled a number of nations to join the iGaming bandwagon. Are African nations following in the footsteps of their European counterparts? Continue reading to learn all you need to know about iGaming in Africa and how you can become involved.
A look back at the history of gambling
The primary difference between iGaming and other types of internet gaming is that it is primarily concerned with a game of chance. It is necessary to place a wager with anything of value on the result of an unknown event.
Gambling has been around for about as long as history itself, but online gambling has only been around for about as long as the internet itself has been in existence. Because of the platform’s increasing popularity among the general public, licensing possibilities arose quickly and the nation soon became home to a flourishing sector that rivaled that of Las Vegas, with companies such as 10bet Ghana establishing themselves in the marketplace.
Some nations have taken a bit longer to warm up to the idea, but as governments across the globe see the money generated and how it contributes to tax collection, regulations are becoming more relaxed.
What is it about internet gaming that makes it so popular in Africa?
The sport of football is the most popular on the African continent, and its people are well-known for their enthusiasm for it. Football may be seen being played on the streets, the greatest players in the business are often from African countries, and the love for the team is high, with stadiums packed with supporters. Fans of other sports, such as cricket, basketball, and running races, congregate at hotels, pubs, and any other place where there is a television to watch their favorite teams compete in these events.
Along with a fervent love of sports comes an equally fervent love of sports betting. In particular, European football leagues and other FIFA events are very popular among Africans, with the European Premier League being the most popular. La Liga, Serie A, Bundesliga, the UEFA Champions League, and the UEFA Europa League all offer a plethora of opportunities for wagering on football. Some of the finest betting sites in Africa allow bettors to place bets on their favorite sports and events, which is a convenient feature.
In terms of table games, about 30 of the 54 African nations allow for the operation of land-based casinos. South Africa is the leader in this field, with 40 casinos located across the nation. In contrast, the United Kingdom will have 131 casinos up and running in 2020.
Casinos are few and few between in Africa, but those that do exist have gained considerable appeal. Because online gambling eliminates the requirement for a physical location to play, the popularity of iGaming in Africa has skyrocketed in recent years.
Will the law allow that to happen?
Despite the fact that South Africa is the only nation in the world that effectively regulates the gambling business, new laws are being implemented in countries throughout Africa to guarantee that online gambling is safe and regulated.
You can observe the effects of change even outside of Africa. The Netherlands has always been tough on gambling, despite its liberal views on other issues. However, in recent years, the country has begun to loosen its grip on internet gambling. The large amount of revenue has persuaded the Dutch government to pass the Remote Gambling Act, which establishes a series of regulations for gambling companies wishing to operate in the country and target Dutch citizens, including the distribution of licenses determined by the government of the Netherlands.
In the United States, there will be just three internet gambling states in 2020, which will be comprised of New Jersey, Pennsylvania, and Delaware. Although other states are anticipated to join the gambling business as a result of new legislation put in place in 2020, California is the first to join the list. Other states are expected to follow in the footsteps of California by joining the gambling industry in due course. It seems that the total tax contribution of $84 million in 2020 alone from the first three states has prompted legislators to reconsider their prohibition on online gambling in the first place. As a result, established names in the business are looking for new opportunities. For example, there are UK operators such as Online Slots UK, which are well-established companies with a large selection of games and a large number of loyal customers. Recently, they have been looking at the possibility of establishing internet casinos in the United States.
African sports betting has not yet reached its zenith, with certain Muslim-majority nations openly prohibiting sports betting, but the future is in the hands of young people, and they hold the key to the future of internet gambling in the continent. Over 200 million Africans between the ages of 18 and 24 are already using their cellphones to access sportsbooks, which may serve as a source of revenue if they are pushed into unemployment, which is a common occurrence in Africa.
Because of the broad acceptability of online gambling, as well as the substantial money generated, more governments are likely to revisit the issue of regulations in the future, enabling more operators to join the market and increasing the overall revenue generated.