Regulatory body in Africa - should consider 2020s

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Gambling is a relatively underdeveloped industry in Africa as a whole compared to other parts of the world.

Then again, many involved in the industry would be happy to tell you “underdeveloped” is just another way to say “huge opportunity.” Indeed, there are clear signs that the African region is full of pent-up demand for sports betting, casino games, lotteries and other forms of gambling. Though, gambling is available / legal in majority of the countries in Africa, and out of the 56 nations in the continent, only 5 of them prohibits gambling in the region.

However, gambling has proven quite popular in Africa, especially sports betting among young Africans seems to be en-vogue now betting on European football leagues in large numbers. Casinos games and brick-and-mortar casinos are still rare across the vast majority of the continent, but that shouldn’t be too surprising considering that building a physical casino requires huge investment and entails major risk compared to setting up a small shop to accept wagers on a daily football matches.

There are few challenges to be overcome before gambling can truly take off in Africa. In many areas, gambling laws, are either unclear and outdated or just unenforced. Major stakeholders in the gambling industry are keen to see a regulatory framework formed and put in place in order to invest in the growing gambling industry.

Further, regulating online gambling is still in its infancy stage of growth in Africa as major African countries don’t really have a clear cut define laws for online gambling as some stakeholders in the industry prefer to invest in online gambling business compare to the land-based gambling business, though, much of the attention in recent years has revolved around real-world gambling and sports betting in Africa, the online gambling is next in line as the prevalence of affordable smartphones and the growing numbers of mobile betting, coupled with the quickly improving internet penetration and infrastructural development across Africa has contributed tremendously to the popularity of online betting among young Africans.

However, the unclear online gambling laws is hindering the online gambling business in Africa to reach its full potentials, unlike European and Asian markets where online gambling is popular and well regulated which as contributed massively to the economy of major European and Asian markets.

However, as Africa strives to catch up with the rest of the world economically, it is right about time lawmakers in Africa consider opening it door for more investors to consider the growing gambling industry and the regulatory body to put up a well rounded regulatory framework to further the growth of Africa gaming ecosystem.

Written by Adeleye Awakan
Associate/Editor www.gbc.ng Africa’s leading digital gaming magazine. For consultant on gaming in Africa, Marketing, PR, Advertising, and Thoughtful leadership article contact: [email protected]