Kenya is currently among the top three gambling markets in Africa, with this industry becoming a multi-million dollar in this region, according to a 2017 PWC report. Statistics further show that the Rift Valley region in Kenya leads in the number of betting individuals, with 30 %, followed by the Nairobi region with 19%, and in third place is the central region with 12%.
Among the 70% of those who bet are young people between 18 and 35, with 70% being men while 30% are women. Besides, 40% of Kenyans bet once a day, and sometimes they do so multiple times a day. Kenyan-based gambling industries offer different sub-sectors, including; prize competitions, sports betting, and lotteries.
There are currently 30 licensed betting firms and casinos providing their services in Kenya. Sports betting is one of Kenya’s significant gambling trends, with approximately 2 million revenue in this subsector. Statistics reveal that the gambling industry aims to reach a turnover of $ 50 million by the end of 2020. Due to the favourable environment of gambling industries in Kenya, some great brands like Betsafe are starting to offer their services.
Here is why Kenya is an exciting market for gambling brands.
Technological Factors
Technological advancements in Kenyan is one of the factors which attract Betsafe and similar companies in the region. Nearly 100% of the Kenyan population can easily access mobile phones. This fact highly favours the gambling industry since smartphones are critical tools that frequently allow many Kenyan residents to gamble.
Statistics reveal that 64% of mobile gamblers own a smartphone, and 55 % of them bet more than once a week. The impact of smartphones in Kenyan sports betting got felt at first in the year 2015. During this period, the smartphone market upsurge, such that three of five people had a smartphone with them.
The growing demand for smartphones in Kenya led to the introduction of mobile payment services, such as M-Pesa services. In return, these mobile payment services significantly contribute to the rise of online sports betting in the country.
Kenya is also among a handful of African countries experiencing a significant boom in the telecom industry, with many of these companies investing in this region. Hence, Kenya enjoys stable internet connections, and undoubtedly, this mainly impacts the rise of online gambling in this region. Having all these favourable technological factors makes sense why Betsafe KE and various other gambling industries get interested in the Kenyan market.
Favourable Legal Factors
The Betting, Lotteries, and Gambling Act established the Betting Control and Licensing Board. Therefore, the Kenyan laws and regulations concerning gambling are very fair to gambling companies. However, a few challenges get encountered, like when the Kenyan government blocked M-Pesa services from facilitating online gambling. The issue has since been resolved.
Therefore, it is crucial to adhere to these neutral gambling regulations set up by the Kenyan government and understand the local legislation. This fact will catalyze the growth and expansion of betting companies such as Betsson.
Final Note
Betsafe, one of the major international sports betting brands with 14 years of experience and a strong passion for sports, is soon establishing in Kenya. Betsafe prioritizes responsible gaming and provides a safe and secure environment for its clients.
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