EXPERTS Regulatory body in Africa – should consider 2020s 3 years ago Samuel Post Views: 783 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 In many areas, gambling laws, are either unclear and outdated or just unenforced.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] About Post Author Samuel I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. See author's posts SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: african gamblers, gambling business, sports betting Continue Reading Previous SiGMA 2019 on Malta with iGaming professionals from all over the worldNext How to Win with Online Football Betting More Stories EXPERTS WORLD NEWS Online gambling & betting industry is projected to reach $145.6 billion by 2030 8 hours ago Szarlot EXPERTS SENEGAL Why African fintechs will continue to trend 1 day ago Samuel EXPERTS KENYA Gamblers Rejoice As Court Scraps Nairobi Law 4 days ago Samuel EXPERTS KENYA Court quashes betting tax, limit on gambling in 5-star hotels 5 days ago Szarlot EXPERTS SOUTH AFRICA Only 2 Months at The BiG Africa Summit 2023! 1 week ago Iwo Bulski EXPERTS MALAWI How Will Malawi’s Economy Fare in 2023 1 week ago Samuel EXPERTS SOUTH AFRICA South Africans spent big on groceries, entertainment and fuel in December 1 week ago Szarlot EXPERTS WORLD NEWS What Will Be The Future of Sports Betting Around The World? 1 week ago Szarlot EXPERTS HOT NEWS TANZANIA Mobile Betting – How Popular is it in Africa? 1 week ago Szarlot EXPERTS RWANDA Adam Bradford launches centre to train youth in Rwanda 2 weeks ago Iwo Bulski EXPERTS KENYA BetEngines launches the first Sportsbook software solution tailor-made for the African market. 2 weeks ago Adeleye Awakan EXPERTS KENYA Ronald Karauri’s Inspiring Journey from Pilot to SportPesa Billionaire 2 weeks ago Szarlot Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.