Sports betting and other forms of gambling are becoming a phenomenon across Africa. Betting over which sports team might win has become a multi-million-dollar industry.
It’s estimated that currently, the global gambling market could be worth over $ 800 billion according to new findings by Dublin-based Research and Markets.
In Africa millennials especially within the Sub-Saharan Africa region are using their mobile phones to bet on football and are spending less than $60USD per month.
Out of that report, Kenya has the highest number of betting youth, this is according to a recent GeoPoll rapid survey carried out among youth between the ages of 17-35 in Uganda, Tanzania, Ghana, Nigeria, South Africa and Kenya.
This explains why every investor in the gambling industry with an interest in Africa has their focus on Kenya, despite this being a highly regulated market, it’s still the best market in the continent.