HISTORY HOT NEWS MOZAMBIQUE What you need to know about Mozambique gambling industry 2020 3 years ago Adeleye Awakan Post Views: 3,877 All forms of gambling are legal in Mozambique since 1994 and regulated by the state, the gambling act of 1994 and online since 2009. Mozambique is quickly emerging as one of the most promising and lucrative lottery, sports betting and casino playgrounds for gambling firms due to its favourable tax laws on gambling, low operational cost and transparent legal framework. How to Start Gambling Business in Mozambique An investor or a foreign company willing to start a gambling business in the country must set up a new local company, the shareholder of this local company can be an individual, but i strongly recommend that it be the foreign company operating in the country of origin. Though a Mozambican shareholder is not mandatory by law but based on my research as well as on decisions taken before, I strongly recommend. Once the local company is incorporated, then you can proceed to apply for a license along with required documents to compile the gaming license application. After meeting all the requirement it takes one week to incorporate, and application procedures may take between 3 to 5 weeks, the licensed issued with a maximum length of 5 years, renewable. Cost and Tax in Mozambique Gambling Industry Cost of the license interested company will pay a sum of US$ 1.700 per the mode of the Game, i.e., lottery, sports betting, virtuals among others, you will also be requested to pay the premises licensing fee of US$ 500 per shop or website. While the operating costs, the Mozambican government charge 8 per cent monthly of Game generated Revenue (GGR) for all retail operations in the country. At the same time 10 per cent (GGR) for online activities, corporate income tax of 32 per cent on the profit yearly, individual income tax 10 per cent on cash prizes and stamp tax 5 per cent on lottery ticket price plus 5 per cent on cash prizes. Payment System In Mozambique The electronic payment, such as credit and debits cards, is still the most widely used in the country, but mobile payments system is picking up very quickly in the country. The most popular mobile payment in the country is Mpesa, from Vodacom group. However, still, there are other competitors in the country which includes Mkhesh from Mcel and eMola from Movitel. Mozambicans Attitude to Gambling Casino Polana in Maputo Retail is still the widely accepted gambling operations in Mozambique, despite the growth in mobile and online betting, operated by a few numbers of operators, a lot of betting activity still happens in shops and on the streets through agents in many areas of Mozambique. Shops are often packed to capacity with young men, especially on weekends and match days. Giant flat screens showing various sports events are massive attractions to draw fans, betting shops strategically located in a densely populated area of the city where large and mainly unemployed sports-loving fans can find. It is a fact to know that one current challenge for the retail consumer in Mozambique is the queue times. A large proportion of customers are spending over twenty minutes in queues, but they bear it because they feel more confident in staking their bets in front of a Clark than making payments through smartphones. Mozambican customer still wants to feel sure on identifying where to top his/her account or to redeem his/her winnings on a bet. Online Betting in Mozambique Some operators tried to start their gambling business in Mozambique by using an online channel. But they failed to register a reasonable number of bettors because a majority did not know their brand. Though there is an increase in online betting due to the rise of smartphone usage, particularly all popular betting companies in Mozambique provide for an option of retail and online gambling. Know About Your Competitors Presently, 14 licensees are operating in the country, most of them which are in Maputo capital city of about 1.2 million residents to name a few we have Bettabets, Arena Sports, Jogabets, Primeira Aposta, and Hollywood Sportsbook. The estimated Gross Gaming Revenue is around US$ 1.500.000 per month/per operator in retail operations and US$ 980.000 per month/per operator, for online. The GGR in the online branch is picking up, month after month. IN CONCLUSION: Sports betting business is a lucrative and profitable business and its fast-rising in Mozambique. Currently, the Mozambique board is open to having serious gambling operators in the country. Feel free to contact me in the following channels for further information. About Post Author Adeleye Awakan Author E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa. See author's posts Adeleye AwakanAuthor E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa. Facebook Twitter LinkedIn Email Print Tags: gambling industry, Mozambique Continue Reading Previous Mobile money & liberalize telecom landmark Ethiopia gambling sectorNext Is perennial exile Kenya killing Sportpesa? 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