History of sports betting and its economic potential in Africa

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Sports betting is far from the norm these days. According to some historians, it dates back to ancient Rome, or even ancient China.of Africa In addition, sports betting and gambling have a history dating back hundreds of years. However, it has taken some time in recent years that these practices tend to normalize. In fact, more and more African governments understand the potential transformational power of sports betting on the Western economy and draw inspiration from neighboring countries and other continents (such as the United States) to compose bets. We have adopted the law.

How to explain such enthusiasm for sports betting in Africa

Several factors explain why Africa is so good at sports betting.

  • Great sports culture: Sports occupy a special place in the minds of Africans. Soccer is the most popular sport on the continent, but far from the only popular sport. Rugby, cricket and racing events regularly attract millions of viewers and bettors. Africa is more internationally oriented and is not limited to meetings in its territory. Therefore, bettors follow European leagues (mainly English) and American tournaments and disciplines (for example, betting on NFL or NBA matches).
  • Young Population: Africa is the first continent in the world to be 15 to 24 years old, or more than 200 million young adults. This represents a unique opportunity for the growth of digital sports betting ( Online casinoGlobally, the younger population uses technology at a higher rate than any previous generation.
  • Widespread use of mobile phones. The adoption of sports betting can also be explained by the increasing use of smartphones in Africa. Currently, one-third of mobile phone customers own smartphones. And this number is expected to double over the next five years. Therefore, with bets that tend to be digitized, this activity only proliferates.

History of sports betting in Africa

Sports betting in Africa today is mostly Horse racing And soccer. In North Africa, the sport of betting on horse racing dates back to the 15th century. This field has a history that is essentially related to the connection between this territory and the Ottoman Empire.Soccer is the sport to bet on soccer games Africa’s most popular sport..

Sports betting in Africa has exploded over the last decade. In South Africa, Africa’s most developed and sophisticated market, nearly half of adults regularly participate in the sports betting economy. The sports betting market was worth about $ 40 billion in 2018 in Nigeria, Kenya and South Africa combined.

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According to a recent survey, about 60 million Nigerians between the ages of 18 and 40 are actively participating in their sports betting economy. On average, they spend 3,000 naira (about $ 15) daily on sports betting. According to the South African government, more than 50% of South African adults participate in sports betting. South Africa has a longer history in the region than most other countries in the region. But this story was not always friendly. It has been severely restricted since 1673 and it will take 300 years for sports betting to become legal.