"SUREBET is a nice addition to our global platform of cannabis, psilocybin," says Julies Jenge CEO of TransAtlantic Capital. "Having experience on the continent. Most people view Africa as a country that seems to always be in need of aid, but the 1.2 billion Africans on the continent are the fastest-growing segment of gamers."
"The unique advantage Kenya has is mobile money transfer started long before Cashapp or PayPal. Kenya has a mobile market of 5 plus million daily gamers who average 20 USD in betting. TACI being the first public company to secure a footprint in East African Gaming gives an attractive opportunity for USA shareholders to participate in the financial growth of Africa," added the company in a statement.
While many of the top players may reside in Europe or the US, the African continent is looking to share in a global market that pulled in over $1 billion in 2019.
It was reported that in 2018 that Nigeria, Kenya, and South Africa place bets totaling in excess of 40 billion USD. Historically, sports betting in Africa focused mainly on Soccer and horse racing. The acquisition of SUREBET coincides with a growing interest in North American football, basketball, and baseball.
The global suspension or cancellation of most sporting events during the pandemic has left punters without live games to bet on. While traditional gaming and gambling have faced unparalleled losses, entertainment streaming and gaming have reported a surge in activity since the national lockdown came into effect on 27 March 2020.
The African continent is the fastest growing gaming population on the planet. Mobile gaming generates close to half of the revenue that the gaming industry gets annually on the African continent resulting in a huge market for gaming on mobile phones. More than 200 million Africans are below 35 years, and this figure might double in a decade. By 2050, Africa's young people, i.e., those aged between 0 and 24 years, will increase by nearly 50%. TACI's acquisition gives additional revenue to our shareholders and continues to place the Company in a global economy.
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