Casino online games have experienced a global growth in popularity in the past decade. South African countries, including Zimbabwe are not an exception in these statistics.
Zimbabwe’s large informal economy started feeling the pinch of COVID19 even before a confirmed case had been recorded in Africa. It only has two confirmed cases so far, but suspension of sports events worldwide has affected Zimbabwe’s gambling industry, which had turned into a 24/7 business in some parts of the country.
BETTING houses have taken a huge knock from the recent global suspension of major sporting activities, particularly football.
The Reserve Bank of Zimbabwe announced to regulate cryptocurrency in the country after it announced a banking ban in May 2018.
In Zimbabwe gambling is legal and regulated. The Lotteries and Gambling board is the government body charged with the responsibility for overseeing and controlling Zimbabwe’s gambling industry through the Lotteries and Gaming Act, which enacted in 1998.
All too often, the only things that the world hears about Zimbabwe are the country’s woes. These include the very widely publicised problems that the country has had with inflation that’s widely regarded as being out of control as well as rising unemployment and poverty rates.
Online gaming in Zimbabwe is on the rise. The country is seeing a huge boost in the number of people who are turning to eSports for entertainment, which means it is following in the footsteps of other African neighbours.
As frustrations towards existing payment solutions in Africa rise, many of its residents have increasingly been turning to cryptocurrency. For instance, according to reports from 2019, 10.7% of all South Africans possess some form of cryptocurrency, with 7-8% of Ghana and Nigeria’s populations holding Bitcoin and altcoins.
The Malta Gaming Authority (MGA), gambling regulator of Malta, has received an official delegation of members of the Lotteries and Gaming Board and the Ministry of Home Affairs and Cultural Heritage of the Republic of Zimbabwe.
The growth of sports in the world gave rise to new opportunities, and one of them was betting. Fans from all over the world would predict the outcome of matches for cash rewards or other prizes on a sportsbook. That would go on until the internet was invented.