Ghana is setting the stage for a vibrant and competitive market. This is with its supportive regulatory environment and increasing investment from both local and international operators. Technological advancements has driven this growth, as well as increased mobile device usage, and a commitment to responsible gaming practices. This established Ghana as a hub for gaming innovation.
Organizers scheduled the Sports Betting West Africa+ (SBWA+) 2024 Summit for August 21-23 at the Labadi Beach Hotel in Accra. This provided a platform for stakeholders to explore the latest trends and opportunities in the region. CEO of BetBaba, Francis Ifie is an industry leader and insights from him is a highlight of the event.
Gambling Insider has reached out to Ifie for his insights on the current landscape in Africa, as well as what the attendees gained from SBWA+ 2024.
Francis Ifie brings valuable insights to SBWA+ with over 15 years of experience across the Middle East and Africa. His extensive knowledge, gained from consulting in different sectors, reinforces his belief in the promising future of Africa in sports betting. Ifie is at the forefront of navigating this dynamic market landscape.
Right now, Africa is regarded as the new frontier in the sports betting industry globally. Its sports betting industry is still evolving unlike other continents. Ifie commented that it also offers untapped opportunities. For exploring these opportunities, as well as fostering growth within the industry, SBWA+ 2024 is critical.
An understanding of the risks posed by player fraud, an understanding will be gain at the summit. This is a significant challenge for sports betting companies. Strategies to mitigate these risks and reduce financial losses associated with fraud will be learned, as claimed by Francis Ifie. He further added that recent data indicates that fraud in the global iGaming space increased by 64% between 2022 and 2024, with estimated 1.2 billion USD lost to fraudulent activities between 2023 and 2024. The presentation explored different types of fraud, detection methods, and mitigation strategies to protect the business.
