Gambling markets and sports betting is a worldwide phenomenon that has rapidly gained popularity over the past few years. It’s an exciting activity that has become even more accessible with the rise of online bookmakers and mobile apps.
Sports betting allows people to have a stake in their favorite sports, whether football, basketball, or any other sport, and adds an extra thrill for those watching the game.
As more people worldwide start to participate in this entertaining activity, they are discovering just how easy it can be to get started.
With so many different options available, there is something for everyone who wants to place bets on their favorite teams or players.
If you wish to bet on individual games or events or spread your bets across multiple leagues and tournaments, there’s sure to be something out there that suits your tastes.
Gray gambling markets
Generally speaking, we can identify three distinct types of gambling markets for sports betting: black markets, where it is illegal; gray markets, where the law is not clear; and white (or legal) markets.
In countries where sports betting is illegal or unregulated, bettors often turn to “black” or underground marketplaces such as “illegal bookies.” These are highly risky due to their lack of regulation, but they can offer higher returns than more established venues.
In jurisdictions where gambling laws are unclear or ambiguous, bettors may find themselves in a “gray” market—where they may be legal depending on how local authorities interpret the law.
Africa is leading the way when it comes to online sports betting. According to a study from Delasport in 2021, the continent has the most significant number of people between the age of 15 and 24 that engage in this activity.
This finding highlight, how big this pastime has become for young people across Africa.
The study was based on data collected from over 400 online gambling companies, which revealed that over half of Africa’s online sports bettors fall into this age bracket.
This means that more young people are betting on sports than ever before, and they are increasingly turning to offshore digital platforms as their preferred option.
The report also found that African countries account for around 30% of the total global market share in terms of online sports betting transactions.
Such figures demonstrate just how popular online sports betting is becoming among younger generations in Africa.
More than just entertainment
Sports betting has become more than just a hobby for many people in Africa, especially unemployed people. In fact, data suggests that it has been a lifeline for many who have found themselves without income or jobs due to the region’s current economic struggles.
This is evidenced by studies indicating that sports betting accounts for over 10% of countries like Kenya and Uganda gross domestic product (GDP). Additionally, there are numerous reports of unemployed individuals turning to sports betting as their primary source of income since employment opportunities appear to be scarce and unpredictable. This trend seems to grow annually as online gambling platforms become more accessible and easier to use.
A world of opportunities for Pay Per Head bookies
The pay per head (PPH) bookmaking industry is rapidly growing, with more and more bookies looking to expand their businesses. With recent technological advances, new opportunities are available for bookies to reach new markets and gain a competitive edge.
By taking advantage of these opportunities, PPH bookies can increase their revenue streams, attract new customers, and build brand recognition.
The gray betting markets have become increasingly popular amongst bookies looking for new ways to increase their profits.
Gray betting markets provide a unique opportunity for bookmakers to capitalize on high earnings due to the lack of regulation and supervision.
However, entering these markets can be risky, and bookies must analyze the potential risks before jumping into them.
Bookies must ensure they have a thorough knowledge of the laws in their area and make sure all bets placed within their network remain within legal bounds.
VIP Pay Per Head helps you dominate any market
When it comes to dominating the betting market, having the right technology and staff behind you can make all the difference.
VIP Pay Per Head offers some of the best technology in the industry to give your business a competitive edge against any other competitors.
Their staff is experienced in providing cutting-edge solutions for online bookmaking operations catering to large and small businesses.
From their secure server infrastructure to their user-friendly interface, they provide everything needed for an efficient payment processing system along with a modern sportsbook offering.
Moreover, VIP Pay Per Head makes sure that any bookmaker is equipped with up-to-date sports betting lines so they can stay ahead of their rivals in terms of odds competitiveness.