Africa is emerging as one of the world's most profitable sports betting markets.

Online sports betting is rising in Africa at an unprecedented rate. Although up to 40% of the African population is estimated to be impoverished, the continent is emerging as one of the world's most profitable sports betting markets.

According to Statista, this industry is expected to generate US$1.85 billion in sales in 2024, with a projected CAGR of 6.28% between 2024 and 2028 in Africa. This rise will result in a projected market volume of US$2.46 billion by 2029, indicating the sector's rapid growth.

However, in countries such as Uganda, the negative consequences of online betting are being felt, particularly among university students.

According to Makerere University Vice Chancellor Prof Barnabas Nawangwe, at least 1000 students drop out of the institution each year after losing their fees to sports betting.

The lecturer said that the findings are part of the school's research into the increased number of dropouts.

"“Our investigation have shown that actually, those people were dropping out not because they failed to pay fees. They got fees from their parents and wanted to invest it in betting to get interest,” told the Daily Monitor newspaper.

He said that some pupils had misled their parents about their academic progress and even accompanied them to the graduation ceremony.

This is despite them being aware that they have not been attending class.