The sports betting field in Kenya is one of the fastest developing ones in the past several years which is further boosted by the large interest towards the gaming activity observed in the region. Just in time for the FIFA World Cup this June India-based mobile gaming company Nazara Technologies Ltd. has decided to branch out and explore the Kenyan market with its real-money gaming offerings.
The region of South Africa has been exploring sports betting and the gambling opportunities it has on offer for many months now and this has proven to be the most popular gambling activity in the region. Players located in Nigeria, Kenya, Ghana, Uganda, Senegal, the Democratic Republic of Congo, and Tanzania are utilizing mobile money transactions which in turn boost the development of the sports betting field as well. This was one of the incentives for the gaming company to consider the market a winning option for exploration and opt for operation in the country.
People living in those countries have slowly but surely become one of the most eager participants in sports betting and they put their knowledge of European soccer leagues to the test on a daily basis. Ever since 2014 the field has been in a constant state of evolving and improving as the authorities overlooking it are trying to introduce adequate regulations which to protect the players and the businesses. The year 2018 is expected to elevate the gambling field magnitude in Kenya, South Africa, and Nigeria combined to some $37 billion.
Kenya Willing to Welcome Foreign Companies
India-listed Nazara Technologies is going to turn its plans into reality with the help of the subsidiary company called NZ World Kenya Ltd. which is going to oversee the management of the new operation. As much as 70 percent of the subsidiary is owned by the mobile gaming company providing it with just enough control over the future operation within the borders of Kenya.
As for the remaining stake, it is going to be controlled by the local partner which has joined the Indian company in order to provide support by a local entity. Nazara Technologies has already acquired a sports betting licensing by Kenya Betting Control Board which will give it a chance to introduce some of its offerings to the local market.
It should be taken into account that for the time being real-money gaming is not considered a legal gambling activity, but since Kenya provides the opportunities of a larger market it is still considered a winning opportunity which could open the door for future operation in Cameroon, Ghana, and Nigeria.
Among the offerings available there would be social prediction sports, as well as fantasy sports applications. Sports wagering and gaming businesses around the world are preparing for the increased interest towards betting on football matches which is going to occur over the span of the 2018 FIFA World Cup which is set to commence on 14th June.