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“It has to translate into practical action, educating players, engaging communities, protecting young people and highlighting the dangers of illegal and unlicensed gambling.”
Africa’s Safer Gambling Week will be held annually, although Kesitilwe stresses player protection should be viewed through a daily lens.
“We want Africa Safer Gambling Week to create a platform for ongoing cooperation,” he adds.
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The blurring line between financial investing and gambling has been accelerated by the rise of prediction markets—exchanges offering event contracts that are federally regulated as financial derivatives. U.S. News found that over 40% of active sports bettors now also participate in sports prediction markets.
Financial advisors continue to urge consumers to view sports wagering strictly as entertainment and to only risk funds they can afford to lose.
Research from Stanford University published in April concluded that sports bettors remain “overoptimistic,” generally expecting to break even despite losing an average of 7.5 cents on every dollar wagered.
