iGaming Business magazine iGB 112 Sept/Oct 2018 | Page 57

Africa Focus
READY
TO
ROAR
Online betting is growing fast in Africa, helped by a passionate sports following on large
swathes of the continent. Martin Wachter explores the amazing opportunities on offer
Africa represents one of the world’s most exciting opportunities for
sports betting and virtual sports betting operators. Figures show that
countries such as Nigeria, Kenya and Tanzania are experiencing a huge
expansion in sports betting and other types of gambling, fuelled in part
by customers now having easier access to online sports betting services.
Even in remote areas, having a punt has never been easier.
As an example of market development we can look at Nigeria, where
the country’s gambling industry has been experiencing rapid growth.
Studies predict it to be one of the fastest-growing African countries
in the sports betting field over the next five years. Two cities have legal
gambling facilities, Abuja and Lagos, and even though physical casinos
in the country are quite scarce, the industry has been in rude health
since 2013 – the year in which the first online casino was licensed.
However, research confirms that the African gambling market
is developing its own singularities, both in regulation and market
participants. Overall, many countries have already regulated numerous
forms of land-based gambling, although a lot of these regulations are
outdated and need revision. Following the lead of Tanzania and Kenya,
which already have specific rules for online betting, many African
countries are also considering setting up regulations to control
remote gambling.
Africa’s strong and often fanatical interest in sports makes it a highly
desirable market for the sports betting business. European football, in
particular the English, Spanish, French and Italian leagues, has millions
of fans on the continent. Betting on major leagues as well as on national
and local teams has become a multi-million dollar industry.
There is also considerable betting activity on sports that offer identical
betting rules to the established ones, such as tennis, basketball, boxing
and motorcycle racing. Horse racing, which is very popular in South
Africa, should also be mentioned.
Africans are especially enthusiastic about placing bets on match
outcomes, number of goals scored and so on. The most popular
markets in Africa are combined bets, which account for about half of
all wagers, with players generally combining two, three or four bets.
Other important markets are the match result and correct score,
which is also very popular in Europe of course. As far as racing
Martin Wachter is CEO and founder of
Golden Race. For more than 15 years, Wachter
has spread innovative, tailored solutions and
virtual sports worldwide. He is specialised
in all areas of the company, taking special
delight in being part of marketing strategy,
product management and development.
(especially greyhound racing) is concerned, the preferred betting
markets are the winner and the Trifecta.
The African sports betting industry is one of the most profitable in
the world, mainly thanks to its widespread popularity on the continent.
However, not all the continent shares the same interests. Every country
is unique. Apart from the mixture of economic and social differences
throughout Africa, there’s the religious aspect to consider. For example,
some Muslim-majority countries have banned all types of betting for
ethical reasons.
Moreover, there are local challenges in various countries. Some
operators still experience usage problems due to internet issues and
connectivity, which is why African operators require particular attention.
Suppliers need to work closely with them to offer all the customer service
and technical support they need.
An increasing num