BGC CEO Warwick Bartlett said this week, “Tax and regulation have put pressure on operators’ profits in recent years so it has never been more important to seek out new sectors. We’ve always tried to take a comprehensive long-term view on the industry as a whole – but we understand that operators are looking for the most intriguing opportunities in the here and now. That’s what these two new reports are all about.”
The firm’s report on virtual betting examines the ways in which the simulated betting format – long derided as ‘cartoon betting’ – is on the rise. Improvements to graphics and new products offered by suppliers are slowly transforming virtual betting into a serious contributor to revenues, compounded by operators’ desires for stable margins and a longer “betting window”.
Meanwhile, GBGC’s report on Africa identifies cultural trends that are currently driving the continent’s emerging sports betting sector. Although the African betting market currently lags behind its European and Asian counterparts, there are several trends giving cause for growth: urbanisation, increasing stability and economic prosperity and a growing, young population.
Lorien Pilling, a director at GBGC, said: “Global suppliers have already seen the potential and are working with established operators in Africa, but now non-domestic operators are sensing that this might be a market to break into.”
Bartlett added: “Being properly informed is the best way to start, but looking at strategy, licensing, partnerships and individual business goals is the next step. These two reports on virtual betting and Africa will help spark ideas for new opportunities for betting firms looking to diversify and increase their revenues.”