iGaming Companies See East Africa as a Great Opportunity for Growth and Expansion

Bet High Limited will trade in Kenya under the name Betsafe Kenya, and they are launching their sports betting site within the next couple of months.

iGaming Companies See East Africa as a Great Opportunity for Growth and Expansion
iGaming Companies See East Africa as a Great Opportunity for Growth and Expansion [Photo/ Courtesy]

Thanks to advancements in technology, the iGaming industry is booming worldwide and more so in East Africa. The operators and providers of iGaming services get attracted to entering the East Africa market due to the legal landscape that favors these companies.

The popularity of football in East Africa has also contributed to the increase in sports betting. Additionally, skilled African players in European leagues make football very popular in East Africa. Among these successful African football players is Arsenal’s Pierre-Emerick Aubameyang, who hails from Gabon. East African players who have graced the premier league include Kenya’s Victor Wanyama and Tanzania’s Mbwana Samatta who plays for Turkish side Fenerbahce on loan from Aston Villa.

Below are a few critical features that attract the iGaming companies like Betsafe KE to invest in East Africa.

Availability of Good Mobile Payment Methods, Internet and Network

East Africa is at the forefront of the whole African continent, concerning payment gateways and services, such as mobile money. Mobile payment platforms are very critical to the iGaming industry. East Africa has rapidly growing mobile money accounts, with these accounts surpassing the number of bank accounts available in this region.

The source of mobile money in East Africa is Kenya. Almost every Kenyan has M-Pesa – a mobile money service by Safaricom. In Kenya, about 73% of individuals aged 15 years and above have a mobile money account. After the introduction of mobile money in Kenya, the service quickly spread to other East Africa countries.

Residents of East Africa can fully utilize iGaming services and pay for them through their mobile payment services. There are also stable internet and mobile networks in East Africa, hence facilitating the growth and expansion of iGaming services.

Habitual Sports Betting Among the Younger Generation

A large number of younger generations have a habit of sports betting, with Kenya taking the lead. Statistics reveal that football match bets occupy about 79% of the total sports bets in Kenya.

Data also shows that Kenyans bet once a week and use an average of $ 50 a month on gambling. Successful international African players, to some extent, influence the younger generation on sports betting.

Favorable Laws and Regulations Concerning iGaming

East Africa countries have very fair laws and regulations, facilitating the growth and expansion of iGaming companies. There are, however, challenges; for instance, the Kenyan government blocked M-Pesa services from facilitating payments to these iGaming services some time back.

In this case, iGaming companies wishing to invest in East Africa should never underestimate critical factors, such as apprehension of the local legislation and acting according to it. This factor determines whether iGaming operators succeed or not.

Verdict

Kenya is currently a very interesting market for the casino industry that is always on the lookout for new horizons. Betsafe Kenya is currently operated by Bet High Limited, a wholly-owned company with gaming licenses in sports betting and casinos all over the world.

Bet High Limited is in the agreeing process with Betsson Group, which is wholly owned by Betsson AB. Additionally, Betsson AB got listed on Nasdaq Stockholm Large Cap. Bet High Limited will trade in Kenya under the name Betsafe Kenya, and they are launching their sports betting site within the next couple of months.


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