The rapid growth of mobile money services has created new opportunities for merchants all over the globe to sell their products and services. An apt example of this is the rapidly growing online sports betting sector which has taken several African countries such as South Africa by storm.

Online sports betting in South Africa is now a thriving business thanks to the ability to fund betting accounts via mobile money transfer services. Additionally, plenty of betting apps in South Africa are now readily available for download, which has further heightened online sports betting in the country.

Unlike a few decades back, when internet penetration wasn’t that deep in South Africa, today’s case is different. Rapid internet penetration has also contributed to increased online sports betting in South Africa. It means that players now have easy access to plenty of online sports betting services, regardless of whether they reside in urban or remote areas.

Wagering on the local and national teams and significant European soccer leagues has become a lucrative industry in South Africa.

Much of such activities are via mobile phones, with recent studies indicating that mobile platforms are the preferred way of betting. Unlike a few years back, when gamblers had to visit land-based shops to place their bets, such isn’t the case today, especially in South Africa. With mobile money transactions, you need to fund your account and immediately begin placing your bet(s).

The Rise of Mobile Money Platforms and Sports Wagering Apps in South Africa

Mobile money platforms are now prevalent in many unbanked places, like some areas across South Africa. Instead of travelling long distances to access financial services from banks, many South Africans, especially those in remote areas, prefer to keep their funds in their mobile wallets. There are now more than 140 mobile money platforms in sub-Saharan Africa alone, some with businesses in South Africa.

Proponents of mobile money platforms in South Africa argue that they are safe, fast, and highly convenient instead of transacting via banks. Two decades ago, financial inclusion or the notion that business entities and individuals should access credit unions, banks, and financial institutions, was hailed as the much-awaited trigger for South Africa’s economic growth. However, cellular phone technology and the evolution of mobile money transactions now enable low-income earners with low bank penetration to access financial services.

Besides the above, there are plenty of betting applications in South Africa to enable wagering while on the move. A significant percentage of online sports betting operators now have dedicated apps that players can access and place bets while on the go. What’s even more, most of these apps support deposits and withdrawals via mobile money payment solutions, which has further increased online sports betting in South Africa.

Increasing Support for Mobile Money Services in South Africa

With mobile money transactions now available in many places across South Africa, plenty of online sports betting operators have capitalised on such. Almost all of them accept deposits and withdrawals via a plethora of mobile money payment options.

Today in South Africa, mobile money operators enjoy tremendous support, preferably from playest who can conveniently fund their accounts from almost anywhere and immediately place their bets.

Even though the South African government has tried to regulate the operations of mobile money operators in a bid aimed at ensuring that they protect local banks from collapsing, these operators continue to receive immense support. As noted earlier, low-income earners, individuals in unbanked areas, and more so, online sports betting enthusiasts are in colossal support of mobile money services.

As things currently stand, there seems to be no reverse gear between online sports betting and mobile money transactions. Many of these mobile money services work side by side with companies in South Africa.

This partnership makes it easy and convenient for bettors without active bank accounts to transact using mobile money services.

In addition to the convenience of using mobile money, South Africa boasts of a youthful population, most of whom are tech-savvy and know how to place bets whenever they feel like using their smartphones.

When you add other factors such as high unemployment rates along with relaxed government regulations, there’s no wonder why online sports betting activities continue to remain dominant in South Africa.

The Unintended Consequence

Much has been good regarding mobile money transactions in South Africa. Individuals residing in unbanked locations and low-income earners can now find a way of saving and transferring their funds. But on the other hand, the South African government must keep in mind that, for the most part, matters to do with financial inclusion through mobile money have had positive impacts.

However, there have been a few notable downsides. The rapid growth of mobile telephony and wagering apps in South Africa (you can find the full list on bettingsites24.co.za) has brought about increased betting prevalence and the rise of gambling addiction in South Africa.

The Bottom Line

Mobile money transactions in South Africa have heightened online sports betting. Now more than ever, you’ll find many players transacting through mobile money systems and proceeding to place their bets at their operator of choice, most of whom accept several mobile money transactions.

Even though there have been efforts in the past by the South African government to regulate the operations of mobile money merchants, there has been immense support for them, especially from the gambling fraternity.

Betting operators in South Africa now collaborate with mobile money operators. Some have gone an extra step to introduce their apps in South Africa to attract players who prefer to gamble while on the go. The rise of mobile money transactions has undoubtedly heightened online sports betting in South Africa.