As the gambling industry continues to develop globally, Ghana is quickly becoming a key player in West Africa.
With its favorable regulatory environment and increasing investments from both local and international operators, Ghana is laying the groundwork for a vibrant and competitive market. This growth is driven by technological advancements, an increase in mobile device usage, and a commitment to responsible gaming practices, making Ghana a hub for gaming innovation.
The upcoming 2024 West Africa Sports Betting+ (SBWA+) Summit will be held from August 21 to 23, 2024, at the Labadi Beach Hotel in Accra, providing a platform for stakeholders to explore the latest trends and opportunities in the region. A major highlight of the event will be insights from industry leaders, including BetBaba CEO Francis Ifie.
They contacted Francis to seek his insights on the current situation in Africa and what participants can gain from SBWA+ 2024.
Francis Ifie, with over 15 years of experience in the Middle East and Africa, brings valuable insights to SBWA+. His extensive knowledge from consulting across various sectors has bolstered his confidence in the bright prospects of sports betting in Africa. As the CEO of BetBaba, Ifie stands at the forefront of navigating this dynamic market landscape.
Africa is currently seen as the "new frontier" for the global sports betting industry. Francis comments that unlike other continents where the field is already mature, sports betting in Africa is still developing, offering untapped opportunities. SBWA+ 2024 is crucial for exploring these opportunities and fostering industry growth.
At the summit, participants will learn about the risks of player fraud, a significant challenge for sports betting companies. Francis claims they will learn strategies to mitigate these risks and reduce financial losses related to fraud. He further adds that recent data shows a 64% increase in fraud activities in the global iGaming sector from 2022 to 2024, with losses due to fraudulent activities estimated at about $1.2 billion from 2023 to 2024. The presentation will explore different types of fraud, detection methods, and mitigation strategies to protect their businesses.
