Countries such as Kenya, Nigeria and South Africa are overflowing with young, tech-savvy bettors. As Africa’s betting markets attract more attention, the rising tide of sports betting is also lifting virtual sports revenues. Igaming software company Slotegrator’s new article analyses how punters in Africa are responding to virtual sports products, both in general and during the pandemic era.
Virtual sports are computer-generated simulations of sporting events with lifelike graphics and realistic odds. The most popular ones are football, horse racing and greyhound racing, but providers can also offer other forms of racing, basketball and even MMA bouts.
Increasing convenience is spurring the market’s growth. The rapid spread of mobile technology and the prevalence of payment methods like M-Pesa have put the bookmaker’s office into punters’ pockets.
Virtual sports products appeal to punters in a few different ways. The first is the frequency of betting opportunities; with thousands of virtual events a day, there’s never a shortage of chances to wager and win. For African bettors, who place high volumes of low-value bets, the constant stream of betting opportunities matches their betting habits. Punters can also make multiple wagers while real-life events are in play.
New sports bettors can use virtual sports products as a training programme. The RNG generates a pool of possible outcomes as well as the appropriate betting odds; combined with the sheer volume of events to bet on, players can make as many low-value bets as they want until they understand the system of odds well enough to put a little more money down on the table.
When Covid-19 swept across the globe, the sports betting industry was as vulnerable as any other. Matches, races and tournaments were cancelled or postponed, leaving sportsbooks scrambling to cover their margins. In the world of casino gaming, online options – and live dealer games in particular – saw revenues climb to new heights. Sportsbook operators in Africa turned to virtuals to make ends meet, and doing so helped some stay afloat until life started returning to normal.
Read the full article here to learn more about virtual sports betting in Africa.