Technology / Internet
Online casino games market in African countries
25 Feb 2021 at 13:21hrs | Views
Traditionally, businesses were reluctant to invest in African countries. The limited infrastructure and lack of development were some worries. Of the few companies having a presence there, many wanted to make use of agricultural resources and cheap labor to drive down operating costs.
Now, that's changing. Africa's on the path to success, and many nations are witnessing a healthy growth rate. Today, gambling is a popular activity in Africa - becoming a very lucrative market compared to global standards. The reason for the sudden surge? It is most likely due to how much easier it is to access the internet and online betting sites.
Why has there been a rise in the African online gambling industry?
The focus, across African countries, has been to open up the economy to bring in foreign interest. It's not just land-based casinos now. When it comes to gambling, the changes have been significant.
The gambling laws aren't the same
Over the past years, many African countries have begun to relax laws prohibiting gambling -for both online and land-based casinos. This has allowed the whole industry to break free of its chains. The national gambling act of 1965 banned all forms of gambling in South Africa. But now, people have more options for gambling when compared to years past. There is no law in place now that prevents casinos from providing bonuses to newbies for signing up.
There are more people trying it out
As the population of these countries starts growing, there is more demand for gambling services. Plus, you've younger people turning to online gambling. It is estimated that in some countries like Kenya, they are able to bring in over $1 million each year.
The development of mobile internet connectivity inside the country
There was always a stigma surrounding Africa and technological advancement. People assumed that they were technologically deficient, but this is all changing now. Recent years have shown a massive increase in technology usage inside the country. Most of this can be attributed to the improvement of their mobile connectivity infrastructure. As of right now, over 70% of their population has access to a mobile connection. There is also the case of mobile phones dropping sharply in prices. Both of these points have helped the African population get to where they are today.
Why should you be involved with foreign gambling websites?
A forecasted rise of the annual growth rate for the next 5 years
Africa is set to be one of the leading countries to have a young population in the coming years. This dramatically increases the number of people who will be interested in gambling inside the country. Even during the lockdown period, Africa saw a rise in sports betting.
This is because the young population turned to online sports when the real sports were shut down. Then you have to take into account the availability of new betting technology in the country. With both of these on the rise, they are forecasted to have a 12% rise in their annual growth rate by 2025. In comparison, the market in North America is forecasted to grow by 14.78%.
Great legislation and tax systems in place
African countries such as South Africa, Nigeria, and Kenya have set up the online gaming stage excellently. They have all the necessary precautions in place to ensure that everything is done legally. The online casino industry is thriving, and they are able to even do live dealer games without any issues. These countries have all seen a continuous rise in growth rates over the past years because of gambling. South African legislation alone has allowed the gaming industry to rise up to $1.86 billion by 2020.
Has the potential to generate a lot of profit
As more people get involved, the bigger the gaming industry becomes. About 60% of all Africa's gambling functions happen through mobile phones. This shows just how big online casino operators are becoming. On top of that, there are much fewer complications to gamble in the African market than in the rest of the world. All this together tells us that this can be a very lucrative market for the smart gambler.
Online betting can be lucrative, but you have to make sure not to break your bank and play it smart. Investing $5 as a minimum deposit is a good way to be a part of the online betting community. It also reduces the risk you face by investing too much. Of course, it is hard to find a reliable online casino that you can trust. The different options make it difficult to pick and choose. But we have taken the time to review many of them to find you the perfect 5 dollar casino. Thanks to this, you can now make sure that your money is safe to invest in them.
At this point, it is universally accepted that Africa is the next big gambling market. There is a lot of opportunity for casual gamblers out there. If you are looking to get in on the action, now might be the best time to do it. All you need to do is to start off by hedging your bets with a $5 investment!
Now, that's changing. Africa's on the path to success, and many nations are witnessing a healthy growth rate. Today, gambling is a popular activity in Africa - becoming a very lucrative market compared to global standards. The reason for the sudden surge? It is most likely due to how much easier it is to access the internet and online betting sites.
Why has there been a rise in the African online gambling industry?
The focus, across African countries, has been to open up the economy to bring in foreign interest. It's not just land-based casinos now. When it comes to gambling, the changes have been significant.
The gambling laws aren't the same
Over the past years, many African countries have begun to relax laws prohibiting gambling -for both online and land-based casinos. This has allowed the whole industry to break free of its chains. The national gambling act of 1965 banned all forms of gambling in South Africa. But now, people have more options for gambling when compared to years past. There is no law in place now that prevents casinos from providing bonuses to newbies for signing up.
There are more people trying it out
As the population of these countries starts growing, there is more demand for gambling services. Plus, you've younger people turning to online gambling. It is estimated that in some countries like Kenya, they are able to bring in over $1 million each year.
The development of mobile internet connectivity inside the country
There was always a stigma surrounding Africa and technological advancement. People assumed that they were technologically deficient, but this is all changing now. Recent years have shown a massive increase in technology usage inside the country. Most of this can be attributed to the improvement of their mobile connectivity infrastructure. As of right now, over 70% of their population has access to a mobile connection. There is also the case of mobile phones dropping sharply in prices. Both of these points have helped the African population get to where they are today.
A forecasted rise of the annual growth rate for the next 5 years
Africa is set to be one of the leading countries to have a young population in the coming years. This dramatically increases the number of people who will be interested in gambling inside the country. Even during the lockdown period, Africa saw a rise in sports betting.
This is because the young population turned to online sports when the real sports were shut down. Then you have to take into account the availability of new betting technology in the country. With both of these on the rise, they are forecasted to have a 12% rise in their annual growth rate by 2025. In comparison, the market in North America is forecasted to grow by 14.78%.
Great legislation and tax systems in place
African countries such as South Africa, Nigeria, and Kenya have set up the online gaming stage excellently. They have all the necessary precautions in place to ensure that everything is done legally. The online casino industry is thriving, and they are able to even do live dealer games without any issues. These countries have all seen a continuous rise in growth rates over the past years because of gambling. South African legislation alone has allowed the gaming industry to rise up to $1.86 billion by 2020.
Has the potential to generate a lot of profit
As more people get involved, the bigger the gaming industry becomes. About 60% of all Africa's gambling functions happen through mobile phones. This shows just how big online casino operators are becoming. On top of that, there are much fewer complications to gamble in the African market than in the rest of the world. All this together tells us that this can be a very lucrative market for the smart gambler.
Online betting can be lucrative, but you have to make sure not to break your bank and play it smart. Investing $5 as a minimum deposit is a good way to be a part of the online betting community. It also reduces the risk you face by investing too much. Of course, it is hard to find a reliable online casino that you can trust. The different options make it difficult to pick and choose. But we have taken the time to review many of them to find you the perfect 5 dollar casino. Thanks to this, you can now make sure that your money is safe to invest in them.
At this point, it is universally accepted that Africa is the next big gambling market. There is a lot of opportunity for casual gamblers out there. If you are looking to get in on the action, now might be the best time to do it. All you need to do is to start off by hedging your bets with a $5 investment!
Source - Byo24News
