Technology has transformed the casino industry completely. The emergence of online casinos where players can access the best casino games remotely is an example of the impact of technological inventions. The advancements have also led to new growth markets emerging, especially in the developing countries. Zambia is an example of an emerging market that is fuelling the growth of the online casino industry.
In the past few years, the Zambian casino industry has evolved, including in regulatory matters. Zambia is part of the African countries that are driving significant growth of the online casino industry globally. Such emerging markets are providing room for established international operators like Betway to expand their reach.
Why Zambia's Online Casino Industry Is on the Rise
The answer to this question is multi-faceted. However, various common trends explain the growth of emerging markets like Zambia. One of the main factors is the ever-growing consumer base. There is an increasing number of Millennials and young, middle-class citizens. The trend has deconstructed the initial stereotype that the online casinos were targeting low-income earners, restricting its growth potential.
Mobile Phone Penetration
A higher penetration of mobile phones also fuels the growth of online casinos in Zambia. The penetration of mobile phones has made it easy for more people to access the internet, especially the youthful generation. Online casino operators have taken advantage of this untapped market and wooed new players into their platforms.
As the Zambian online casino industry grows, it has attracted the attention of international operators. Top brands have made deals with local operators to reach the Zambian market. The local Zambian operators receive support through high-quality content, processing management, and sports betting management in the partnerships. One of the biggest international operators in Zambia is Betway.
The partnerships have been instrumental in helping to meet the rising demand for online casinos in Zambia. Players can now access a myriad of slot titles.
Role of the Regulator in Driving Growth
Even though Zambia is predominantly a mining and tourism economy, things have changed in the recent past. The government has taken an approach similar to that used by the UK to handle online casinos. Their regulatory policy is strict but progressive with the goal of establishing highly profitable and mature markets.
This methodology has helped the Zambian government to remain in control of the online casino industry while at the same time, gradually allowing nearly all variants of online gambling. At the center of the market's rise is the Zambia Casino Act that came into existence in 1992 that modified the existing Casino and Gaming Machines (Prohibition) Acts. The Act allows licensed operators to offer gambling verticals to users across the nation. But, the Zambian government has not created a formal set of laws touching on online gambling yet.
The online casino industry is growing globally, with emerging markets such as Zambia at the heart of this growth. These emerging markets are also under pressure to provide solutions for the ever-rising demand for online casino gameplay and virtual sports betting. So far, the Zambian authorities have done well to establish a well-regulated market that has grown significantly. They have also developed a technological framework that will ensure secure mobile gambling.