The phenomenon of online sports betting is surging across Africa at a rate never seen before. Despite the stark statistic that as much as 40% of Africa’s population lives in poverty, the continent is fast becoming one of the most lucrative markets for sports betting globally.
Research data from Statista forecasts that by the year 2024, the sports betting industry in Africa is set to reach a staggering US$1.85 billion in sales. The industry’s growth trajectory is expected to continue, with a compound annual growth rate (CAGR) of 6.28% from 2024 to 2028. This acceleration in the sports betting sector is anticipated to achieve a market volume of US$2.46 billion by the end of 2029, highlighting the industry’s brisk expansion.
Despite this economic success story, the proliferation of online betting is casting a shadow over some African nations, such as Uganda, where the adverse effects are becoming increasingly evident, especially among the youthful demographic of university students.
A grim revelation from Prof Barnabas Nawangwe, the Vice Chancellor of Makerere University, one of Uganda’s premier institutions, indicates a troubling trend: an estimated 1000 students abandon their studies yearly due to gambling losses of their tuition fees.
This insight emerged from the university’s investigative research into why there has been a rise in student dropouts. The Vice Chancellor elaborated on the findings to the Daily Monitor newspaper:
“Our investigation has shown that actually, those students were dropping out not because they failed to pay fees. They had received money from their parents with the intention of paying for their schooling but chose to ‘invest’ it in sports betting with the aim of securing more through wins,” he explained.
Adding to the depth of the problem, he disclosed that some students had been deceiving their parents regarding their academic standing, going as far as participating in graduation ceremonies despite not having attended classes or met graduation requirements. This deceptive behavior underscores the dire situation for some students caught in the web of online sports betting.
