Online gambling is a global industry. The reach of fast internet and an array of engaging games are proving their effectiveness. There has been an ascendance of gambling in developing parts of the world too. Accordingly, online crypto gambling platforms are popular in Africa.
The popularity is growing at a record pace. Online gambling will grow at a compound annual growth rate (CAGR) of 12 percent from 2020 to 2025.
South Africa is a standout performer in gambling infrastructure and regulation. In the North-Eastern part of the country, Sun City derives its income primarily from gambling activity.
Regardless, the online gambling scene is catching on even in remote parts of the continent.
Following are the reasons why Online Crypto Gambling Platforms are Popular in Africa:
Convenience as a Common Denominator
All over the world, millions are engaging in online gambling because of convenience. Convenience is the primary explanation for the popularity of this sector.
People don’t have to dress up and take a drive or a cab to their favorite physical casinos. It is all available from the comfort of your home. You can wager on a competitive table game on your couch in pajamas.
The online casino is accessible anywhere and anytime. This utility adds simplicity and appeal to online gaming.
You get to save time and money wagering on digital or live online casinos.
Accordingly, the more smartphone usage rises across Africa, the larger the market for online gambling. There are over 500 million mobile phones in Africa, which will soon rise to a billion.
The proliferation of smartphones in sub-Saharan Africa and other developing markets presents a massive opportunity for online gambling platforms.
Mobile gaming draws more than half of revenue for gambling platforms and will continue to remain significant.
This convenience is bringing online gambling to millions. The physical casino spread is primarily an urban affair. Africa has large swathes of rural areas that were a distant world away from the glamor of urban casinos.
As internet penetration rises, those in small towns and even rural areas can access gambling seamlessly.
This trend will continue for the next decade as more regions in the continent come online through telecommunication and internet advances.
The Rise of Sports Betting
Sports betting is another pull factor for online gambling platforms. Most countries in Africa have their own sports leagues.
However, European football enjoys a strong following, particularly in Sub-Saharan Africa. The English Premier League is of particular importance in Anglophone countries.
With the rapid proliferation of smartphones in the past decade, sports betting is growing like wildfire.
There are multiple sports leagues to wager on, including small bets. Millions can participate and feel like they have a shot at winning. Most sports betting platforms allow users to bet on single or multiple games.
Additionally, gamers have the chance to wager on lucrative jackpots, which are more complex. However, the hundreds of thousands of dollars or millions in wait are a strong incentive.
Sports betting has risen mostly without government regulation. Some governments have decided to crack down on betting while others facilitate the industry for tax revenue.
Regardless, this industry has a solid foothold in the continent and will continue to grow. Gaming commissions and legislators have their work cut out in regulating the industry.
The goal is to establish fair practices without stifling the industry.
Payment Options and Versatility
Physical casinos traditionally accept cash or card payments. The new era of mobile money makes finance more fluid and accessible.
Online casinos have integrated efficient payment systems that make transactions seamless for all parties. Small transactions via mobile are the lifeblood of sports betting.
Additionally, crypto gambling casinos offer wagering possibilities in virtual currencies that are borderless and decentralized.
Players can deposit and withdraw directly to their phones. Mobile money rates will continue to go down as more customers come online. There are loads of exciting games and markets at any given moment.
You don’t have to go to a casino with cash to play card games like baccarat and blackjack. This level of versatility and fluidity are strong growth factors for the online gambling industry in Africa.
All one needs to do is visit their online gambling site, connect their payment details, and wager directly on their phone or desktop.
Online gambling is growing fast in Africa. The reasons for this rise are common to other regions of the world. That said, the increased use of smartphones is unique to the continent.
This factor is vital because the continent has lagged behind other regions in certain aspects of development for a long time.
Now, online gambling is growing just as fast on the continent. Technology is proving to be a great equalizer as the world becomes a global village. It is an exciting time for entrepreneurs, gamers, and developers of gaming platforms on the continent.