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Tanzania's Gaming Board targets 200 billion TZS in sports betting revenue for 2024/25

Tanzania's Gaming Board targets 200 billion TZS in sports betting revenue for 2024/25

Market analysis

The Gaming Board of Tanzania (GBT) aims to collect approximately 200 billion Tanzanian Shillings (TZS) through sports betting in the fiscal year 2024/25, as reported by local media outlet Daily News. This target represents an increase of nearly 18% from the previous year's goal of 170 billion TZS.

During the recent launch of the new betting company, BetWinner, in Dar es Salaam, GBT Director General James Mbalwe highlighted the rapid growth of the sports betting sector and its significant contribution to the country's GDP. "The sports betting sector has made significant progress and substantially contributed to GDP. The coming of BetWinner is welcomed," Mbalwe stated.

In light of this growth, the GBT has called on betting companies to operate ethically, responsibly, and transparently to foster fair competition within the industry.

BetWinner's Managing Director, Jesse Ndambala, expressed the company's commitment to providing better odds than competitors and introducing innovative betting games, including a 100% welcome bonus for new customers. "Apart from having good odds, we have introduced significant innovations in our games. Our goal is to enhance entertainment and competitive spirit in the sports betting sector," Ndambala noted.

Beyond football, BetWinner plans to invest in other sports such as golf and netball. Ndambala assured that the company is prepared to face fair competition by offering top-notch services, including immediate payouts to winners upon confirmation. BetWinner, based in Cyprus, currently operates in several African nations, including Kenya, Nigeria, Ghana, Zambia, and Uganda, further expanding its footprint in the growing African betting market.

Published July 24, 2024 by GamblingTalk