Africa is currently experiencing the most significant rise in sports betting, with the continent emerging as one of the most lucrative markets globally despite significant poverty rates. Research projects that by 2024, Africa’s sports betting industry will reach a staggering US$1.85 billion in sales, with a projected compound annual growth rate (CAGR) of 6.28% from 2024 to 2028. This growth trend is expected to propel the industry to a market volume of US$2.46 billion by 2029, highlighting its rapid expansion.
However, economic prosperity isn’t the only consequence of the sports betting boom. The proliferation of online betting is raising concerns, particularly in countries like Uganda, where adverse effects are increasingly apparent, particularly among university students. Makerere University’s Vice Chancellor, Prof Barnabas Nawangwe, revealed a troubling trend: an estimated 1000 students drop out annually due to losses incurred from sports betting, which consume their tuition fees.
According to investigations by the university, students are not pursuing their studies despite having the financial means to continue, opting instead to invest their money in sports betting. They hope to earn more than the education could give them, which is a typical mistake of habitual gamblers. The situation is aggravated by topcadcasinos.net and similar platforms, which offer players no deposit free spins and other promotions.
This not only leads to financial losses but also a decline in academic performance. Prof Nawangwe elaborated on this issue, stating, “Our investigation has shown that actually, those students were dropping out not because they failed to pay fees. They had received money from their parents with the intention of paying for their schooling but chose to ‘invest’ it in sports betting with the aim of securing more through wins.”
Furthermore, some students have resorted to deceiving their parents about their academic progress, participating in graduation ceremonies without meeting the necessary requirements. This deceptive behaviour is very telling about the degree of addiction among some students.
However, Makerere University is not standing idly by. We have implemented measures to educate students about the risks of sports betting and provide support for those struggling with addiction.
ADVERTISEMENT
