Ghana’s Gambling Industry Learns From UK
The UK as a gambling Role model for Ghana
Ghana is in a good position to leverage and capitalise on the massive gambling industry boom that has begun and is predicted to continue in Africa. In particular online gaming and betting, estimated to be worth $84 billion worldwide, has incredible potential for growth in the country.
The established United Kingdom online gambling industry could provide helpful insights and guidelines and is being heralded as an example of what the country should follow.
Ghana’s Online Gambling Potential
The Ghanaian attitude to gambling and general socioeconomic and political issues is liberal in comparison to many other African nations. However, the betting industry in Ghana is a lot less developed than in many of its neighbouring countries.
The Gaming Act replaced the country’s Lotteries and Betting Act in 2006, and introduced important legislation updates including establishing the Ghanaian Gaming Commission, or GCC. The GCC oversees all gambling activity with the exception of the lottery, which falls under the jurisdiction of the National Lottery Authority.
With its relaxed and accepting culture and modern technological framework, Ghana is perfectly poised to take advantage of the exponential growth in Africa’s gambling sector. Sports betting, lotteries and land-based casinos are all possible in the country, but online gambling is the biggest and fastest-growing market.
The UK Gambling Model
Online gambling in the United Kingdom is fully legal and is worth an annual £5 billion, or GH¢ 33 billion. The sector is also well regulated by the United Kingdom Gambling Commission, which is known for treating both players and operators very fairly.
Since Britain’s online betting industry is so favourable, many brands have focused their efforts on the UK. Games, customer engagement strategies and promotions that appeal to as many people as possible have been developed.
The competitive market means that sites are always trying to outdo their competitors, to the great advantage of players. The country as a whole would also benefit from the combined tax revenue that desktop, mobile and land-based gambling could generate.
The United Kingdom’s betting taxes amount to about £2.5 billion or GH¢ 16.5 billion a year. The Ghanaian population of 28 million is about half the size of the UK, but the profits could still be considerable. These funds could then be reinvested into hospitals, schools, transport and other public services.
Regulation & Connection are Key
By ensuring that players are treated fairly and paid out timeously, the UK Gambling Commission establishes important trust between casinos, bookmakers and their customers. Citizens feel confident about spending their money at licensed establishments, thereby driving the gambling economy. Further Ghanaian legislation is required to replicate this situation combating rogue operators and ensuring proper taxation. The other essential element to betting industry success in the United Kingdom is fast, reliable Internet.
To allow complex bets and gameplay at all times, Ghana’s connectivity will need to be improved. Currently about a third of the population uses the web, and this number is growing at about 20% each year. As Internet use becomes more vital to all aspects of modern life, it should be a general priority for Ghana. The financial gains of a regulated online gambling market are just one of the many side effects that citizens will benefit from.