2018-04-19

How to Start an Online Betting Service in Africa

How to Start an Online Betting Service in Africa

Online sports bettingis a rapidly growing segment,potentially profitable business in Africa.Like any business, a betting service should have its ‘bookmaker’s office’. This does not seem all too challenging: what you need is a moderately sized room (4m2 or larger), a PC, TV screen, table and chair for cashier, whose job will be to accept money from bettors, issue receipts and pay off to lucky ones. Needless to say, this kind of business should be tailored to meet African laws and meet common safety and security requirements.

The second, and the most challenging part of it, is building an online foundation for your future betting shop.Here bookmakers have two big things to choose: a hosting service provider (for the website) and an iGaming software provider. In most cases, it takes quite a bit of time and effort to choose a reputable and trustworthy company that provides uninterrupted high quality service at an affordable price.

Betting websites work in the following way: a client applies for a bet, passes a registration procedure and receives a link to his login and password. These he is going to use every next time he enters the store. Then he opens an account and there places bets. The cashier in the bookmaker’s office accepts payments and keeps track of transactions. Every time he wins and would like to withdraw cash, he requests a withdrawal using a mobile device and gets the gain.

To make it more transparent and user-friendly, one should use high quality software. Betting Software, an increasingly renowned betting software company, provides applications, including mobile ones, so a bettor can conveniently pull the whole thing off via a phone or tablet. Betting Software providesa cash-book application for tracking bets and monitoring transactions. With this tool at hand, the bookmaker will have data right in front of him on every bettor.

This application is free.The bookmaker will be charged 15% of his profit. Roughly, if there is a $100 bet followed by a $50 withdrawal, the other $50 falls into the betshop owner’s wallet, and it is this $50 that is charged with the 15% fee for the use of the cashier program.

Betting Software provides web-building and web-hostingservices as well, and it may free you from having to look for a web builder elsewhere. However, this is not for free, and the size of the bookmaker’s investment will depend on the site’s functionality: he can choose to include a variety of options, such as slots, casinos, design options (themes, interface, etc.), payment and withdrawal tools. The initial cost of a website starts around $5000. Cash-book applications are provided for free. However, the bookmaker should expect the company to require a $500 deposit against future profits.

Important note

If you are about to launch a business in Africa, please, be sure this kind of activity is legal in your country or location. Study the local legislation very carefully before making an investment.