Sports betting is increasing in African markets. Apart from traditional sports, young, tech-savvy African punters are growingly drawn to virtual sports, which provide endless betting chances in a form of simulations of sporting events created by the software.
The events in virtual sports are usually shorter than live sports events, lasting 90 seconds to a few minutes, and are depicted with extremely realistic graphics reminiscent of high-end video games. Aside from realistic graphics and probabilities, realistic outcomes are possible in virtual sports events. Let’s examine the rise of virtual sports in Africa in this blog.
Several African Nations Introduced Betting Benefits to Punters and Operators
The African betting business is booming, thanks to technological advancements and a burgeoning population with a passion for sports, notably football. African bettors are growing aficionados of virtual sports in addition to regular sports betting at the best betting sites in Ghana and elsewhere in Africa. Before we say something about the attraction of punters in Africa to virtual sports, we’ll share a few betting-related facts observed recently in the way African governments relate to the betting market and draw the link with our story.
- Kenya: Kenyan authorities recently reduced the betting stakes tax to 7.5% in an effort to entice sportsbook companies back to the country following a lengthy tax dispute.
- Nigeria: An estimated 60% of Nigeria’s 200 million residents engage in some type of gambling.
- South Africa: This African nation generates roughly half of all gaming revenue on the continent.
- Ghana: During the pandemic, the Ghana Gaming Commission enabled licensees to offer online sports betting products.
- Tanzania: Its government allowed virtual sports in early 2021.
Why Are Virtual Sports Popular Among African Bettors?
Virtual sports are appealing to tech-savvy football fans who wish to place larger numbers of modest wagers. This occurs to almost precisely coincide with modern African bettors. When you consider the age of the players and their fondness for technology, it’s easy to see why virtuals are so popular.
African demographics are characterized by youth. According to UN-Habitat figures, roughly 420 million people, or 35% of the continent’s population, are between the ages of 15 and 35. Sports bettors are typically younger over the world, and much more so in Africa. As many as 54% of Sub-Saharan Africans aged 17 to 35 had at least tried betting. Mobile betting is popular among African gamblers. According to GeoPoll, 75% of bettors use their mobile phones to place their wagers. As mobile adoption rises across the continent, sports bettors in some nations are more likely to have a mobile phone than a laptop.
Virtual sports may be the first sports betting encounter for younger generations who have grown up in a world of high-definition graphics and video games. Betting on virtual sports can be utilized as a learning tool for people who are unfamiliar with the puzzling odds concept. Virtuals offer a larger frequency of betting possibilities, allowing punters to become familiar with the odds systems.
Virtuals provide skilled gamblers with the endless betting alternatives they’ve always wanted. Virtual sports bettors usually stop watching the event after a few weeks; the long-term attraction is the excitement of staking and winning money. Playing the odds and putting their gut sense to the test is something many punters enjoy almost as much as the sport itself.
In Africa, the great majority of sports bettors wager frequently but in small amounts. In Kenya, for example, the majority of gamblers wager at least once a week, if not every day. According to a three-year-old IPSOS survey, the typical Kenyan resident aged between 18 and 29 spends $14 every month on betting. Virtual sports betting is well-suited to the low-volume, high-frequency betting habit. There’s also the issue of legal standing to consider. Games of skill, for example, are legal in Nigeria, but games of chance are banned. Because evaluating the odds before placing a wager requires ability, Nigerian punters can legally bet on virtual sports at any time.
Finally, virtual sports appeal to the lifestyle and mindset of young, tech-savvy punters, which is why they are gaining popularity in Africa and worldwide. There’s never a shortage of events to wager on with 24/7 availability, thousands of events every day, plus the fact that virtual sports have no off-season.
What Are the Forecasts for the Future
Any recipe for success must regard each country as an individual. Providers can also adapt their products to the market using virtuals. Football is a no-brainer, but the mix of other products, such as greyhound and horse racing, will be determined by regional preferences.
Virtual betting’s high-frequency, short-duration choice corresponds to most punters’ fast-paced lifestyles. It’s no surprise that operators consider Africa a strong market for virtual sports betting, given technology advancements, increased sports betting revenues, and a young and growing population.
In fact, gambling experts believe that virtual sports will outperform regular sports betting in terms of income. The moderating effects of virtual sports on the sports wagering business on the Internet can be compared to the impact of streaming technology on the entertainment sector. With so much entertainment available at their fingertips, going to the movies for a new film has become more of a chore than an experience. Similarly, with virtual sports events available at all times, young African bettors may consider waiting for a live match to be a waste of time.
When assessing the possibilities for virtual sports betting (or any other product) in Africa, it’s critical to avoid making assumptions about how development will proceed in other parts of the world. Understanding the future of the African betting market will rely on a thorough examination of its existing situation, rather than attempting to duplicate the growth of markets in Europe or Asia.
African markets are expected to develop at their own speed, according to investors. The first thing that comes to mind is communication. Mobile adoption is surging across the continent, with Kenya surpassing 100% and other countries approaching comparable levels. While the Western world adapted to traditional telephones before moving on to the next stage of the technology revolution, the landline was rendered obsolete for many Africans even before it was deployed.
And, as we previously stated, nothing makes African gamblers happier than using their mobile devices to wager on sports – and, increasingly, virtuals.