Can crypto play a role in the rise of the African online gambling market? – Business Insider Africa

The online gambling scene, though, has perhaps been able to benefit greatly because of the widespread adoption of cryptocurrency that is being experienced within the continent. 57% of Africans remain unbanked, and many of those have since turned to alternative methods of currency, including virtual means.

Naturally, this will have had an impact on the gambling industry, as many from the continent now continue to flock to a crypto casino and use their favorite digital asset and combine this with one of their preferred pastimes: playing gambling titles including slots and table games. Indeed, with it suggested that there was a growth of 1,200% between July 2020 and June 2021 in regard to crypto, there is likely to be an interest in these services moving forward!

Gambling remains very popular with Africans

Despite the issues that were experienced around the world in the last couple of years due to the devastating virus and the impact it left in its wake, Africans continued to go back to crypto gambling in their numbers, as many of them found it a luxury and a form of recreation that they could enjoy when their lives were not at their best.

Indeed, this was not the only reason why the industry was utilized as much as it was, with it being evident that the improvement in communication infrastructure around the entire continent is a significant factor for many. As of 2020, the continent had boasted 11.5% of all internet users in the world, therefore many would have argued that the development of infrastructure was needed.

However, the problem regarding legal matters and online gambling legislation within the continent is an issue that many have faced, although this is why so many gamers have begun to use a crypto casino to enjoy one of their favorite pastimes.

Why are legal issues a problem?

The laws regarding online gambling across the continent are rather varied, with some allowing the activity, whereas others have outlawed it. Some nations still remain in a grey area, too, thus adding to the problems that continue to be experienced.

Tanzania is an example of a nation that has embraced the industry as they have provided liberal and inclusive gaming regulations, whilst there are others that have made it a lot more difficult. However, with that said, Africans are free to access offshore sites, which is why the market is able to thrive within certain countries.

There is no denying that there is still a lot of room for the online gambling industry to try and potentially manouver into, however there is perhaps a reason why they are yet to have accomplished this.

There is confusion amongst many African nations about what to do in regard to imposing new laws and enforcing them, especially when they are not implemented at the federal level. Nonetheless, it would seem the future is rather bright.

What is the future of gambling in Africa?

Naturally, there will be plenty of interest regarding what happens in the future for the online gambling industry within Africa, although it does look rather positive. Many countries are looking to embrace the industry, whilst there are citizens across the entire continent that are extremely passionate about the pastime, and with crypto adoption at an incredible level, this could be one way in which they decide to enjoy this activity in the meantime, as well as in the future!

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Can crypto play a role in the rise of the African online gambling market? - Business Insider Africa