REPORT: 77% OF AFRICA’S $23BN BETTING MARKET UNREGULATED

A new industry report has disclosed that 77% of Africa’s estimated $23 billion betting and gambling market remains largely unregulated.

The study, released on Friday, highlights the rapid expansion of the sector across the continent while pointing out significant gaps in oversight and consumer protection.

Researchers noted that although countries like Nigeria, Kenya, and South Africa have active regulatory bodies, a substantial portion of betting activities still operates informally or in legal grey areas.

The report warns that inadequate regulation exposes millions of users to risks including fraud, problem gambling, and money laundering, while depriving governments of potential tax revenue.

Industry experts are calling on African nations to prioritise the development and harmonisation of betting laws to ensure responsible growth of the sector.

The findings underscore the urgent need for stronger regulatory frameworks to balance economic opportunities with consumer safeguards in Africa’s booming betting market.