Is Africa the Next Hotbed for Bitcoin Gambling?

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The cryptocurrency and Bitcoin craze around the world has jumped from the West to the East and now Africa. Since 2011, online search interest in Bitcoin has been steadily on the rise in Africa, with many millennials going crazy about it.

Young people from Uganda and Nigeria have been surprisingly interested in Bitcoin over the past few years. The increased Bitcoin interest has also fuelled the rise of Bitcoin casinos in the Dark Continent, with a number of regulated and scam casinos spawning by the day.

Africa’s Interest in Bitcoin is on the Rise

A recent Binance research has put Nigeria on the top of the list of countries with relative search trends of “Bitcoin”. Since its invention in 2009, the decentralized currency has attracted a lot of interest from big Western countries, yet third-world countries didn’t seem into it in the beginning. As the interest in Bitcoin around the world rose, however, Africa joined the list of crypto lovers.

Cryptocurrencies are becoming increasingly more and more popular in Africa. Experts attribute this to the unstable economy of countries such as Nigeria where young people can barely get a job and get paid for it properly. The interest in crypto and gambling in Africa opened the way to Bitcoin casinos which are now growing in popularity by the minute.

The African gambling market is massive – according to estimates, more than 35% of Africans are involved in gambling. Although there are no official reports that tie this number to online casinos, the number of web casino sites is on the rise along with Bitcoin casinos. Africans love gambling online primarily because there’s no need to travel to a casino. The secure privacy and the diverse payment options which also include Bitcoin are two more factors why Africans love Bitcoin casinos.

A New Hotbed for Bitcoin Gambling?

With the popularity of Bitcoin in Africa constantly on the rise, the online gambling market may “explode” in the Dark Continent soon. As more and more young people join the Bitcoin fray, there will be huge amounts of crypto assets to spend. On a continent where more than 35% of people are involved with gambling, that can only mean one thing – Bitcoin casinos.

The absence of a central authority that regulates Bitcoin transactions and anonymity are the two biggest benefits of Bitcoin gambling in Africa. Since no authority can freeze your assets because of gambling, everyone’s in control of their own transactions.

The rising popularity of Bitcoin in Africa should also drive governments to change the legislation related to it. It will also spark the need for a change in online gambling laws. Currently, they vary between African countries. It is regulated in some and strictly prohibited in others. However, Africans can easily gamble online thanks to foreign online casinos that accept African players.

Experts believe that the increased interest in cryptocurrency will eventually lead to the whole continent jumping on the Bitcoin bandwagon. With it, legal Bitcoin gambling could follow soon.

October 16, 2019: • No Comments

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