“SUREBET is a nice addition to our global cannabis platform psilocybin,” he says Julies Jenge CEO of TransAtlantic Capital. “Experience on the continent. Most people see Africa as a country that always seems to need help, but the 1.2 billion Africans on the continent are the fastest growing segment of gamblers.”
“The unique advantage of Kenya is that mobile money transfer started long before Cashapp or PayPal. Kenya has a mobile market of more than 5 million daily players wagering an average of $ 20. TACI is the first public company to make a footprint at East African Games has secured an attractive opportunity for US shareholders to participate in Africa’s financial growth, “the company added in a statement.
While many of the top players may be based in Europe or the US, the African continent wants to participate in a global market that grossed over $ 1 billion in 2019.
Nigeria, Kenya and South Africa have been reported to place bets totaling over $ 40 billion in 2018. In the past, sports betting in Africa has mainly focused on football and horse racing. The SUREBET acquisition coincides with a growing interest in North American football, basketball and baseball.
The global suspension or cancellation of most sporting events during the pandemic has left players with no live games to bet on. While traditional gaming and gambling have suffered unprecedented losses, entertainment streaming and gambling have seen a surge in activity since the national lockdown went into effect on March 27, 2020.
The African continent is the fastest growing gaming population in the world. Mobile gaming generates almost half of the revenue that the gaming industry generates annually in the African continent, resulting in a huge market for gaming on mobile phones. More than 200 million Africans are under 35 years old, and that number could double in a decade. By 2050, young people in Africa, between 0 and 24 years of age, will increase by almost 50%. The acquisition of TACI brings additional revenue to our shareholders and continues to move the company into a global economy.