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Money The future of the African Gambling Market – Growth, Trends and Forecasts

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Africa is on its way to becoming one of the most profitable gambling markets in the world. Casinos have always been a popular choice of entertainment for Africans. Nowadays, more and more people are shifting to online platforms.

The main reason why people are choosing online casinos is that it’s way easier to start betting on the Internet. On top of that, you no longer have to waste your precious time driving to the nearest land-based casino.

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African Online Casinos are on the rise

Recently, an extensive number of African countries started changing their gambling laws to make online casinos more accessible. Let’s have a closer look at how African states are working on regulating internet gambling and why the iGaming industry is expanding at such a fast pace in these developing countries.

One of the most popular gambling activities in Africa is sports betting, which brings in millions of dollars annually. Land-based sports betting is the favorite casino type in countries like Kenya and Uganda. Still, most of the operators charge a relatively high entry fee, which most locals cannot afford.

Thus, many African gamblers started looking for new and more affordable gaming solutions, like online casinos. Aside from the lack of entry fees, interned based casino allows them to enjoy their favorite table games and slots with lower bet limits.

Mobile payment platforms allow casino deposits

Banking methods are another issue that gamblers living in Africa need to deal with. Unfortunately, most African banks do not accept casino deposits, so people that are willing to gamble online will have to come up with alternative payment methods.

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Luckily, the surge in mobile payments and e-wallets allows Africans to deposit as much as they want with ease. However, this could represent an issue for problem gamblers. Countries like Uganda or Kenya have already taken the necessary steps to ensure that people are gamble aware, and other territories are following their footsteps.

While technology may be more expensive for African people, most of them have access to the Internet through a mobile phone or desktop device. The majority of gamblers prefer accessing casinos from their smartphone because they can place their bets on the go. For this reason, when African casinos become regulated, mobile-optimized interfaces will be a must-have for operators that want to be successful in such a competitive industry.

Have a peek at this website to discover the impact of mobile casinos in the gambling industry and how technological advances are helping operators increase their revenues.

The future of the African gambling industry

The African gambling market is among the greatest outside Europe and North America. As you might expect, lawmakers have already implemented regulations that are meant to protect the consumers.

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The Uganda government has recently announced that they are working on pushing foreign operators out of the country. Kenya has already introduced a bill aimed to ban gambling-related ads. Casinos are no longer allowed to run their advertisements on TV between 6 am to 10 pm. Additionally, celebrities and influencers are forbidden from endorsing gambling activities.

South Africa is also on its way to becoming one of the leading gaming hubs on the continent, with a market value estimated to over $2 billion in 2019. The future of the African gaming industry looks bright. But is that a good thing?

Well, many changes are going on in the continent’s economy. According to statistics, the growth of the gambling market will have a significant impact on Africa’s GDP, as it will create new jobs and bring in more foreign investors willing to spend millions of dollars.

Kenya is focusing its attention on trying to stop gambling addiction, and Uganda is working hard to nationalize the online gambling market. In a BBC article from 2018, we’ve found out that many Africans are already addicted to online casinos. Still, the data available at the moment does not suffice.

Only time will tell if the African gambling market will be a great hit or not. For now, it’s worth mentioning that some of the most popular online casino operators are already available in these countries. After the harsh government regulations, we shall see how many will remain active.
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