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While sports betting has been a well-established industry in the western world for a long time, Africa has just started experiencing a surge in the popularity of sports betting. Its spread is a promising realm, offering a myriad of prospects and opportunities for the continent.
This article looks into the rise of Africa’s industry of sports gambling and is not intended to explore betting tips or strategies. However, if you are interested in those, check out the BetMGM Sportsbook betting options.
Alright, let us get started.
Why More and More Africans Start Betting
First of all, the betting industry is closely tight with the economy, having a reciprocal impact on each other. Second, the unemployment rate in Africa is relatively high, which means there is not enough income, and that is when betting kicks in, serving as a certain source of income. What is more, many betting companies realized their importance in generating revenue and started attracting African citizens to engage more with the industry.
Apart from socio-economic factors, at its core, African culture has had a certain kind of betting in tribal communities centuries ago. To be more specific, African nations gave rise to a plethora of sports such as Ons Jabeu, Jacques Kallis, Jay Jay Okocha, and George Weah, among others.
Another reason behind such a rapid spread of gambling in Africa is technological revolutions. With the ubiquitous availability of smartphones and the internet, accessing online betting platforms has become possible within seconds, right at our fingertips, allowing us to place a bet no matter where you are.
Equally important, for some, betting and sports remain a tool for enjoyment and unity whereas social media platforms have also contributed to its spread.
The rise is clear, but what is going to happen next?
Despite the positive changes for both the society and the economy, these changes bring their own set of challenges such as fraudulent activities, bookmaker cheating, payment delays, as well as unsolicited bans and security-related risks. Looking ahead, it is not impossible to ask: how are we going to approach these obstacles?
The future of sports betting not only in Africa, but also in other parts of the globe is expected to be solely decentralized. Decentralized betting platforms are based on blockchain technology, allowing to circumvent any third parties or central authorities.
The biggest advantage of utilizing such a system is that it allows for more transparency, fairness, and security in comparison to traditional betting sites, which lowers risks of fraud and associated activities.
Parting Comments
The African continent has seen a major technological breakthrough that has reshaped the world of sports betting, and especially online betting. In the upcoming years, Africa will be a point of global investment, taking the betting realm to the next level. Along with gambling, there have been a number of world renowned athletes, displaying their talent on a global arena and only attracting more and more Africans to get engaged in the market.
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