Zambian Sports Betting at All-Time High
All forms of gambling in Zambia are more popular and widespread than they have ever been, but sportsbooks are growing particularly fast. The country’s traditional economic mainstays are mining and tourism but, as with so many other African nations right now, the online sports betting business is booming.
Land-based casinos, bookmakers and lotteries are legal in Zambia, under 1992’s Casino Act, the Betting Control Act that was passed in 1958 and amended in 1994, and the Lotteries Act of the 1950s respectively. Online regulations are not currently formalised, and no operating licences are required.
Zambia’s huge potential for growth in the sector, and the risks of customer mistreatment, underage betting and gambling addiction, mirrors the possibilities and challenges faced by several of its African neighbours.
Regulations will need to be enforced and maintained, especially for the nascent online sector, and operators will need to be shrewd in order to stay ahead of the competition.
Sports betting is particularly cutthroat right now, with a few companies standing out from the rest. Insiders are attributing this to better strategies and bigger budgets when it comes to marketing, as well as superior business models.[pokareview_bonusbox id=”4504″ layout=”style2″ score_style=”percentage”]
Marketing Strategy Impact
The Zambian sportsbooks directing the most money to advertising, either because they have deep pockets generally or because that is where they are focusing their resources, are reaping the benefits. The size of their spend is a much greater indicator of their market share than the number of years they’ve been operating in the country.
Betway is a good example. The bookmaker is a relatively new entrant, but with radio, television, billboard, newspaper and online adverts, it is already making inroads. BetPawa, another online company, has seen great results by branding buses and massive billboards.
Successful Business Models
In addition to vigorous marketing campaigns, Zambia’s most successful sportsbooks are showing innovation and skill in business administration. Betway has opened outlets at kiosks and malls to complement its online services, and has chosen to operate in several languages to make its products as accessible as possible. Their creative promotions, such as the 100% bonus drive, are also driving sales.
BetPawa offers the market’s largest bonuses, and entices bettors by publishing their biggest winners in newspapers. Bola Bet is a brick-and-mortar operator that has moved into the online space to grow its business, in the same way Betway expanded into land-based outlets.
Competition Benefits Customers
As other bookmakers including Castle Bet, M-Bet and Gal Bet look to enter the Zambian industry or expand their market share, and the Soccer season gets underway, increased competition is expected. This should stimulate growth and drive product prices down – both of which will benefit customers.
At this stage it is still unclear who the country’s market leading operators will be, but the clear winners are the bettors themselves along with the citizens of Zambia. As long as proper regulation ensures consumer protection and proper government spending of gambling taxes, the sports betting boom could help boost the country’s economy considerably.