Sports betting becoming more than a pass-time

The sports betting craze has taken a lot of Ugandan youth by storm. Betting was not so common about 10 years ago in the country. Only gambling spots like Kampala Casino existed for the rich to pass time. Of recent there has been a wave of sports betting companies opening up in the country. A lot of young people have taken on sports betting with a lot of enthusiasm. It has become more like a source of employment as a visit to any sports betting center will reveal.

Sports betting in Uganda started with only one company SBA,but currently there are more than 10 other betting companies. For example Gemex, Gaming, Gal's Sports Betting, Bingo, Kings Sports Betting, Victory and Royal Sports Betting. The profitability in this business has put pressure on the competing companies themselves to become more innovative. Now one can even bet using his mobile phone, free internet access to on-line betting guides and putting up large TV screens for their customers to follow their favorite matches live.

The popularity of sports betting can be attributed to the state's legalization of gambling. Uganda is the second nation in Africa to legalize betting activities. More so there is a high market potential especially in suburban areas of the country. High unemployment rates also answer for the high cases of sports betting. The betting stakes are as low as 200 Shs that every one can afford to participate

The prospect of staking about 1000 shs and winning more than 400000 shs rings high in any of the betters' mind. Many youths spend entire days or their lives at betting spots and it has become their source of livelihood. Losing today does not mean that he will not win the next day. Ironically this has worked in favour of the betting bosses who bag millions in a single day. Betting centers used to open by 8 in the morning and could close by midnight. However, concern was raised in the parliament about the growing trend of youth towards sports betting instead of more gain-full employment. The last reading of the budget for next financial year saw a 20% levy on betting companies. And the working hours were reduced, now betting centers have to begin operating at mid-day.

Technology has helped improve the betting environment with the introduction of on-line betting platforms. Further, there are internet based betting guides on which people can base to stake their money. Soccer matches are the most preferred but virtual games like horse racing are also taking shape.