Merchants have new ways to sell their products and services thanks to the growth of mobile money เว็บแทงบอล.One such opportunity is the rapidly-growing sector of sports betting websites that offer football betting. It has taken many African countries by storm.
Rapid internet penetration has further fueled the growth. Even in remote areas, consumers can now access online betting websites for sports football. There is a lot of growth in betting on sports and other gambling in countries like Nigeria, Kenya and Senegal, Senegal and the Democratic Republic of Congo.
The multimillion-dollar market for football betting websites on European soccer leagues and local and national teams has grown to be a multimillion dollar industry. Many of these football betting websites are done via mobile phones, with studies showing that mobile gambling is rapidly becoming the most popular form of gambling.
In 2018, the combined value of the South African, Nigerian and Kenyan gambling industries is expected to exceed USD$37 billion. A 2017 study in Kenya found that 2 million people use mobile-based betting websites for football.
One of the unintended outcomes of mobile money services’ growth is the proliferation of betting sites for football. This has been attributed to a push for financial inclusion. Mobile phone platforms have been viewed as the key to financial inclusion in Africa since 2014. These eventualities weren’t what they were. Despite this, financial inclusion is still a priority because most adult Africans are not banked.
It’s high time for government to recognize the magnitude of the problem.
Young gamblers
Mobile-based betting site for football in Africa is praised by its supporters. There are many benefits to gambling, including increased employment opportunities and easy money for low-income earners as well as tax revenue for the government and general economic growth.
They don’t mention the devastating effects that football betting websites have on people who are younger than 35.
Africa has the youngest population in all of the world, making this problem even more difficult. More than 420 million Africans are between 15-35 years old. This is not to mention the high rate of unemployment. Around 35% of Africa’s youth are unemployed. Only one in six African youths is employed as a gainful worker.
Sports is a popular pastime on the continent and can be used to stimulate these youths. A football betting website seems to be a solution to poverty.
This is why the mobile-based football betting site for sports can be so appealing to young people. A small stake of USD$1 can result in a win of USD$500.
Nigeria has 60 million residents between the ages of 18 and 40 who spend USD$5,000,000 per day on betting websites for football. Most of these people are young, unemployed or underemployed and they stake an average USD$8.40 per day.
Mobile-based betting site for football: What are the consequences?
According to the Kenya study, most people who used mobile-based betting websites for football had no fear of falling prey to these dangers.
Low-earning youth often borrow money to play on a football betting site. They are then in a perpetual cycle of debt. The already difficult situation of 40% of Africans living on less than USD$1.90 per day is made worse by rising debt levels.
Despite the serious consequences of betting on sports via mobile phones, this practice has been deemed an addiction. This is concerning, as football betting site has been recognized as a gambling disorder.
Unintended consequences
Financial inclusion, the idea that both individuals and businesses should be able to access banks, credit unions, and other financial institutions, was the key to Africa’s economic growth 20 years ago.
Low-income earners who live in conflict-affected and economically fragile areas, such as those found on the football betting site, were able to use cell phone technology to gain financial services. A young, mobile-literate population has contributed to the remarkable growth in mobile money services in countries that have low bank penetration.
This has had a positive impact on African economies, but it has also had unintended consequences for the poor. These risks are being overlooked because financial inclusion is still supported by multilateral organisations and governments, central แทงบอล, central banks, as well as private-sector actors. It is also included in seven of the UN’s Sustainable Development Goals.
The government must recognize that while financial inclusion via mobile money has been a positive thing for most people, there are also down sides. Mobile telephony’s exponential growth has led to an increase in the number of football betting websites and an increase in gambling addiction in Africa.
- Gambling
- Economy
- Website for sports football betting
- Fintech
- financial inclusion
- Financial institutions
- RandD
- Website for football betting
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