Day: May 6, 2023

The African gambling industry has changed substantially over the last two years which notably arose due to the unprecedented outbreak of covid-19 that led to the growth of virtual sports far beyond what we all imagined since there was a time when all sports leagues were shutdown leaving sportsbook providers with no sports games playing to generate odds feeds from for their clients thus forcing punters to resort to only virtual sports and Esports.

The events in virtual sports are usually shorter than live sports events, lasting 3 – 5 minutes, and are depicted with extremely realistic graphics of the games made/created from real major sports leagues or races. Aside from realistic graphics and probabilities, realistic outcomes are possible in virtual sports events same as most betting markets in real Prematch and live sports betting.

 Thanks to technological advancements, an increase in both internet and mobile phone penetration, 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 across all popular betting sites and also in retail networks.

Why are virtual Sports Popular among African punters?

Virtual sports are appealing to football fans who wish to place larger numbers of modest wagers. This occurs to almost precisely coincides 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 instantly after a few minutes. 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/Uganda, for example, the majority of gamblers wager at least thrice 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, 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, horse racing, and Spin & Win (Virtual Roulette) 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 technological revolution, the landline was rendered obsolete for many Africans even before it was deployed