iGaming Industry
Sports Gambling Booms in Africa
The popularity of gambling in Africa has risen over the past few years with the advent of mobile applications to make betting easier and a proliferation of betting joints.
Ghanaian Efutu Member of Parliament Afenyo Markin is a vehement opponent of gambling centers in Ghana. Earlier this year, he spoke to DW, accusing the Chinese who mainly own and run most of the gambling centers, of taking advantage of young people. He said, “Those Chinese who have come with their raffle joints, I want to tell them we will encourage the police to close these joints down,” before adding, “There are lot of raffle joints in Winneba. Properties are getting stolen because somebody wants money to go raffle.”
The popularity of gambling in Africa has risen over the past few years with the advent of mobile applications to make betting easier and a proliferation of betting joints. In Kenya, SportPesa which was launched in 2013, now has over one million registered.
While it sounds like a “man problem,” reports from South Africa prove women have also been ensnared by the allure of quick money. Heidi Sinclair, treatment and counselling manager at the South African Responsible Gambling Foundation says, “…the reality is that as many as 51 percent of all South African women gamble; what’s more, female problem gamblers are likely to be more severely affected by the condition.” While the practice has its advantages like boosting State revenue, the cost is sometimes too great to ignore.
Mobile Phones – the African Las Vegas
The 2014-2018 Gambling Outlook by PriceWaterhouseCoopers examined the extent of the gambling industry in South Africa, Nigeria and Kenya. Gambling in these three countries will be an industry worth $37 billion. Geopoll says, “Most youth (54%) in SSA (Sub Saharan Africa) have tried their hand at gambling. Kenya has the highest number of youth who have participated in gambling or betting in the past at 76% followed by Uganda at 57%. Ghana has the least number at 42%.”
It also says most young people are using mobile phones to gamble with 75% of those who bet using their phones. Kenya has the highest usage of mobile phones for gambling at 96% while South Africa has the lowest at 48%. In effect, as Geopoll rightly states, mobile phones have become Africa’s Las Vegas.
Fictitious gains, Real losses
The Digital Skills Observatory report says, gambling provides participants with a false and risky sense of “better days”. The contention was that people know it is risky but have an impression of winning which is often untrue. A participant in the research, Mark, said he furnished his house through winnings from gambling. However, according to DSO data, “55% of participants believe they win most of the time, but our data shows that more than 50% have spent more on gambling than they have gained.” While gambling has created employment, and taken youths off the streets in some cases, it has also trapped a lot of participants in compulsive “problem gambling”.
A good number of gamblers want to stop but they simply cannot. Families are being affected. Mental health is at risk. The desire to make more has become an adversary. Quartz reports that, “Kampala schools have reported an increase in dropouts with gambling students unable to pay fees, while several communities, including Uganda’s second largest city Gulu in November, have sought to ban betting amid claims of mounting crime and underage involvement.”
Many countries are struggling with regulating gambling in their countries and appealing to the humanity of business people making profits from gambling is foolhardy. They make gains from the losses of the people and they cannot be expected to cut down their source of revenue. They cash in on the chaotic realities of the largely unemployed young people.
It is sad that it has come to this: Youths who should be in full-time jobs and school are now resorting to chance to make a living. Leaders should feel challenged by the festering rot in our midst. Gambling can be tolerated when it is recreational but when whole populations pin their livelihoods on it, there is a fundamental error in the system.…
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Source: EEGaming.
Alejandro Navarro
Betski Secures $345,000 in Pre-Seed Funding for First-ever Tokenized Casino Ownership Platform
Betski is set to launch its online casino ownership platform in Q1 of 2025, enabling users to earn casino profits through digital tokens. The system will allow anyone to receive a share of casino earnings without managing casino operations, marking a new chapter in the multi-billion-dollar iGaming industry. Supported by a $345,000 pre-seed funding round, the platform aims to democratize access to casino earnings and reshape the multi-billion-dollar gaming industry.
Opening Casino Ownership to Everyone
The platform’s tokenization system reshapes traditional casino business rules through an automatic profit-sharing program. Token holders receive a percentage of every bet placed on the platform.
This system eliminates steep entry costs, such as operational expenses, licensing fees, and administrative management. Users can start earning returns without previous casino experience or large capital investments.
“A small group have exclusively enjoyed casino industry profits until now. Our platform opens these earnings to everyone through our tokenized profit-sharing system, turning users into online casino owners,” said Alejandro Navarro, founder and CEO of Betski.
Direct Profit-Sharing Through Tokens
Through a verified digital system, the ownership program distributes Gross Gaming Revenue (GGR) among token holders. Investors have recognized this potential, contributing $345,000 in pre-seed funding that combines gaming entertainment with digital asset ownership. The platform maintains strict security protocols and automated distribution systems for reliable profit sharing.
“The platform distributes real money to token holders from every bet placed by players. This creates a steady income stream for online casino owners – something the traditional casino structure has never offered,” said Navarro.
Global Growth of Online Casino Ownership
The platform has attracted 2400 active Discord members and over 20,000 followers on X (formerly Twitter). These early adopters are expected to participate in test runs of the profit-sharing system once it goes live. Over the next 24 months, the platform will roll out first in Latin America, followed by expansion into European and select Asian markets.
Betski offers casino games, live casino experiences, eSports betting, global lotteries, fantasy sports, and traditional sportsbooks. This variety creates multiple revenue streams for online casino owners. Players can access all gaming options through a single interface, which streamlines the betting experience and maximizes potential returns for token holders.
The team has partnered with major payment processors and marketing agencies to support the platform’s global expansion. These collaborations will facilitate smooth transactions and user acquisition across different regions. The platform meets all regulatory requirements in its target markets, certifying long-term stability for token holders.
New Opportunities for Investment
Following the successful pre-seed round, Betski is now opening its seed funding round to welcome additional participants into its casino ownership platform. This investment opportunity enables individuals and entities to join the platform’s growth journey ahead of its official launch in Q1 2025.
eCOGRA, a leading international authority in Testing, Inspection and Certification services for the iGaming industry, has secured new regulatory approvals across three key jurisdictions: Arizona, Indiana and Panama. With these developments, eCOGRA strengthens its position in the U.S. and Latin American markets, offering excellence in compliance through their Quality, Speed, and Service promise.
This strategic expansion allows eCOGRA to conduct independent compliance audits and certification services in each region, addressing the growing demand for rigorous regulatory oversight in the fast-evolving global iGaming industry.
Securing approval in Arizona, where eCOGRA has now been licensed as an Event Wagering Ancillary Supplier, enables the International Testing Laboratory (ITL) to audit event wagering licensees in line with Arizona’s expanding regulatory landscape. Indiana, which introduced online sports betting in September 2019, has authorised eCOGRA to perform regulatory compliance audits, providing licensed operators with crucial assurance in meeting the state’s high standards.
In Panama, the Board of Gaming Control officially recognised eCOGRA as an Authorised Entity for Compliance Certification, specifically for slot machines and gaming software. This endorsement reinforces eCOGRA’s role as a trusted partner for operators seeking to meet stringent regulatory requirements in Latin America’s emerging iGaming sector.
“Our recent approvals in Indiana, Arizona, and Panama underline our dedication to continually expand our offering, to support our growing portfolio of clients with their global growth plans. We are committed to ensuring that we bring the same quality, speed and service that marks us out to both our clients and regulators in these dynamic markets,” said Will Shuckburgh, Group CEO of eCOGRA.
Bradley Khoury, Chief Technology Officer at eCOGRA, said: “Securing licensure as an Event Wagering Ancillary Supplier in Arizona and an Authorised Entity in Panama underscores our dedication to supporting responsible and sustainable iGaming operations. We are committed to driving trust and accountability within the industry by providing compliance solutions that uphold the highest standards.”
BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.
As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.
Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.
BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.
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