A gambling market report in Africa is a detailed report showing the level of success or failure that arises from various gambling industries in Africa over a period. The report is a study that reveals the customer impact and competitive level of the market. The report is also a comprehensive detailed report that highlights the analysis of the market segments and market insights of the gaming industry on the different levels based on the game type and the device type. This report also provides the reader with the factors that influence or drive the online gambling business which includes disposable income, young intelligent people, and the law regulation of the online game. It helps to find out the demand forecasts, key market trends, and the business micro and macro indicators in the Africa market. It can also be term as an in-depth business report that is based on qualitative and quantitative parameters of the market. The report shows the prospects of the African market including diverse opportunities, restraints, and socio-economic and technological factors of the online gambling market. The demand and supply conditions of the gambling market are known in the report.
Gaming industry In Africa
The gaming industry in Africa is one of the strongest industries in Africa that is gaining more population every day. It is the highest most valuable industry among the youths, it comes before the movie industry and any other thing that brings the fun. This is interesting because the Africa youths have the most significant number of the population in Africa. There are a lot of opportunities for the gaming industry in Africa now and even much greater in the years to come. One of the opportunities is the one developed by the government in the Africa region to adopt the gaming solutions for educational purposes, this will help many young people to give more to learning.
The impact of smartphones on gaming cannot be overemphasized. Smartphone penetration has done a lot of good. It has been recorded that gamers make use of their phones mostly and this has helped them to generate more than half of the revenue that the gaming industry gets annually. The smartphone has helped the gaming industry to become increasingly popular in the country, with the fact that there is an availability of high-speed internet all over. The topmost gaming developers in Africa are Kenya, Nigeria, and Uganda. The gaming industry is bringing back millions of dollars for these countries per year by all categories of video games from mobile games to PC, Xbox, and PS.
Difficulties faced by investors in the gambling industry in Africa
Gambling is fast rising in Africa and this is major because of the growth in online betting or gaming using mobiles and other means. The challenges faced by the investors in the gaming business in Africa vary among the countries and this is because there is a different approach to regulations and improper management of the gambling market. To penetrate or make waves in the gambling industry requires accurate analysis and methods of plans.
The major difficulties faced by investors in the gambling industry in Africa are;
There are no uniform norms and principles applied in the gambling industry among Africa countries. They don’t have a well-coordinated system of gambling that cuts across all the Africa countries. They differ with states and countries.
- There are no good regulatory frameworks set or no clear law regulation on the gambling sector in some Africa countries which can affect the investors because there are no direct guidelines that can be followed. It hinders development and growth for the investors and creates unfair competitive practices because the licenced operators will end up competing with those that are illegals causing more problems for the real investors and even the country at large.
- Lack of enforcement of laws in the country’s jurisdiction on gambling can affect investors in losing investment and also there will be no benefit to the government in that area in terms of creating jobs that are inclined and also there will be no taxes paid, thereby losing more money in return.
- Technological advancements can also pose a threat to the investors in the gambling business in Africa.
- There are a lot of controversial attitudes about the gambling business in some African countries. These issues are causing challenges for investors and it is because of unstable political positions or some religious beliefs that are against gambling and sports bets as entertaining, masculinity, relaxation, or money-making activities. They believe it is an evil spirit game that can destroy lives.
- Domestic lawgivers in some countries ban these services entirely for investors because they believe gambling is a game that destroys young people and makes them less responsible. They have not yet agreed to the potential benefits of gambling legitimation to both the economic and tourism sectors.
- Investors in the gambling business have a low chance to be licensed in the region where gambling is forbidden or limitations are placed. There are about seven African countries where gambling is forbidden. Any investors that are forcefully into the gambling business will be banned and be punished by the penal code or partial prohibitions will be made. The countries are Libya, Somalia, Mauritania, Guinea-Bissau, Sudan, Burundi, and Eritrea.
- Some investors also run on loss or there is rising debt daily which does not help investors in having a good investment return. Some low-earning young people often gamble without having enough and they end up borrowing money for betting.
- The level of scarcity in getting reports in the gambling business in Africa because of the lack of sufficient and accurate data.
- It is hard to get accurate and sufficient data in some parts of the African countries for their gambling business because those countries are somewhat bound in those regions from gambling. These regions are strictly prohibited due to some religious beliefs about gambling, they just got engaged in other forms of gaming like land-based gaming at the tourist centres to boost their local revenue-generation instead of the well-known gambling. Due to this fact, there are just a few regulatory bodies and market fragmentation that make it possible to have reliable data regarding their continent’s land-based industry. This means that data for the gambling report for the whole of Africa will be gotten in parts.
Gambling Market Research Report Using Shikana’s Report
The Shikana report should be used to get proper market research in this industry.
Shikana Group is an independent law firm founded in Tanzania, this law group specializes in both commercial and business law. They are based in Tanzania and they are known to advise business clients operating in Africa on legal issues within EAC and the SADC regions and also some other International clients from private and public sectors.
The Shikana Group can be hired to examine the key factors that drive sales and expansion for the gaming industry. They can help in capturing the important market trends available for the gambling industry. They can map out the structure that can be used in the gaming industry, identifying the key market players, and also providing the consumers’ needs, their gaming preferences, and action. The report will only centralize some basic information about Africa’s growing gaming industry, and also highlights some of the potential investment opportunities surrounding the industry.
With this report from Shikana Group, there will be an improvement in the overall market transparency, there will be reliable empirical information for the gambling industry in Africa and the original market analysis for the African countries will be achieved.
Skikana Group should be used to get accurate data for the gambling business report in Africa.
What Are The Socio-economic Impact Of Gambling In Africa?
- Economic growth and development
- Employment, wages and education
- Job creation
- Tax revenues
- Consumers benefits
- Infrastructure development in society
- Education and training for young people
- Gambling creates recreation and tourism.
- Recreational industries
- Gambling illegal act is reduced
- Gambling help grow local retail sales
Social Negative Impacts
- Bankruptcy
- Crime
- Family issues
- Personal health problems i.e low self-esteem, poor sleep and appetite, stress, anxiousness and depression.
- Suicidal among young people
- Domestic abuse
Conclusion
Gambling in Africa is rising every day, either land-based gambling or online gambling which is why there is a need for the yearly gambling report, regulations and lawmakers to be involved so that we will be sure of the positive social impact from gambling and it will be easy for the industries involved to be well organized. A lot of young people live by gambling and that is the only area they catch fun but the African continent has today made sure that gambling should not just be for the fun of it but also for some other good benefits.
The gambling report in Africa is a very useful and comprehensive detailed report that will help to highlight the analysis of the market segments and to know the market insights of the gaming industry over some time. It is an in-depth business report that is based on both qualitative and quantitative parameters of the market. Proper market research in this industry will help the lawmakers to be more direct about their decisions and it will help investors to know what is working and also what they need to properly improve on.
Shikana Group is the right firm to help get adequate market research in the gambling business in Africa.
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