South Africa is one of the several African countries that have embraced sports betting, both as a pastime and a career. People make money from placing wagers on local and foreign sporting events. Over the last few years, the betting industry has risen to the levels attained by casinos, as South Africa is considered among the first protagonists of online gambling.
Like in many other countries in and out of the continent, the growth of online sports betting in South Africa can be attributed to many factors. With top associates like the Betway casino opening doors across the continent, we look at some of the leading contributors to the upward surge.
#1. A general love for sports
South Africans have a tremendous love for sports. The country participates in major continental and global tournaments, and the local leagues are also well-organized. Besides excelling in rugby, cricket, football, and many other outdoor and indoor events, the country boasts top-notch sporting structures that attract people from different parts of the world. In football alone, betting companies usually capture not only the PSL, which is the elite league in the country, but also the second tier and cup ties.
The locals are also known to be great followers of top European leagues, including the English Premier League, German Bundesliga, Italian Serie A, French Ligue 1, and Spanish La Liga.
#2. Growth of mobile betting
Mobile technology is arguably the most significant contributor to the rise of online betting after the internet invention. As one of the biggest economies globally, more South Africans have access to the internet and smartphones. Phone manufacturers from Asia and Europe have prioritised making low-budget devices to reach as many customers as possible.
Besides, like other betting enthusiasts worldwide, the advantages realized through mobile betting have not escaped South Africans.
#3. Regulated but relaxed betting rules
Africa remains one of the under-regulated continents with regards to gambling and sports betting. However, South Africa leads the way in regulating the industry, with the government keen on formulating stringent gambling laws. Even then, these regulations are investor-friendly, meaning licensed brands like Betway can operate within the country, provided they meet the guidelines laid down by relevant authorities.
A mix of foreign and local betting companies also creates a competitive environment favoring bettors, and the country’s revenue generation from taxes is also boosted.
South Africa, Kenya, and Nigeria boast the highest number of educated but unemployed youths in the continent. They also have a youthful population affiliated with sports. Consequently, most of these youths turn to online betting not only for fun but primarily, to eke out a living. Mobile phone access, TV and online advertisements play a significant role in luring more and more young people into betting.
All indicators point towards more growth of online betting in South Africa. Provided, Betway and other leading betting companies continue to set the pace; we are about to witness one of the biggest industries yet, not just in the country but across the continent.