By Williams AGYAPONG
According to the latest report on sports betting in Ghana by TGM Research, a technology company that provides global consumer insights using innovative survey technologies, about 41.7 percent of Ghanaians have engaged in sports betting in the last 12 months.
Ghana is now considered one of the top sports betting markets in sub-Saharan Africa despite its relatively small population of just over 30 million.
Of this, 74.17 per cent cited winning money as their main motivation – with around 95 per cent preferring online betting to brick-and-mortar betting shops.
Most Ghanaians from all walks of life have been influenced in some way by sports betting. Either a family member, ward or friend has benefited greatly or suffered great loss in the pursuit of victory.
In 2020, a 16-year-old boy said to be addicted to gambling reportedly committed suicide by hanging himself from a tree at Asonomaso in the Kwabre East District of the Ashanti Region. The deceased, Kwaku Appiah – a pupil of Osei Kyeretwie Senior High School, caused a stir after heated exchanges with his mother over the practice of betting/gambling.
The mother is said to have threatened to call the police to arrest him if he did not stop the practice. Kwaku Appiah was unexpectedly found hanging from a tree, dead, behind their house a day after the exchanges.
In April 2021, Hohoe District Court sentenced a 31-year-old petrol station supervisor to 15 years in prison for stealing GH¢139,118 belonging to his employer. When the facts were examined in court, it was revealed that he used the money for sports betting but did not win any of the bets to repay money he took from the company’s coffers.
In a disappointing turn of events in 2022, some students from the Kwame Nkrumah University of Science and Technology (KNUST) were forced to postpone their courses due to non-payment of fees. KNUST authorities later discovered that some defaulting students had used their money for other ventures such as sports betting.
Every sports player wants to win a lot to compensate for numerous losses. Most of them have a mantra – “I want to win millions of cedis, invest in a profitable business and get out of the betting game”.
So, on Saturdays and Sundays they mostly move from one betting center to another or from one prediction site to another in search of favorable odds.
Sports betting takes a lot of time as one has to watch or watch all the games that one is going to bet on. Punters are usually angry on the weekends if the games don’t go their way.
They will insult players, managers and goalkeepers: “I almost won a thousand cents today if it wasn’t for that stupid manager. All he had to do was play that player and I would have won the bet. But this stupid coach won’t listen. He should be fired,” are common statements.
These are just some of the millions of cases that bettors endure every day in this risky venture. As the saying goes, “you can’t advise a woman in love” – but trust this, no one advises a man addicted to gambling.
Betting Bonanza
However, there have been cases of players winning large sums on their stake. A notable big winner in recent years was in 2023 when a Ghanaian bettor named De’Barnes made headlines by winning a huge amount of money on Sportybet.
Despite initially having his bet slip written off by the company for breaking the bank, De’ Barnes turned his fortune around with just GH₵1, winning an impressive GH₵196,093.60 in sports betting. He took to social media to share the ticket and his odds of winning, inspiring other players who have lost money.
Similarly, Fuseini Siaka, a 36-year-old painter in Barekese, a suburb in Kumasi, earned GH¢6 million. He flew in a private jet from the capital of the Ashanti region to Accra to receive the award.
In February 2023, a Ghanaian recorded the highest winning amount recorded on Betway with an amount of GH₵ 1.5 million in a football bet. So, generally, players who bet every now and then experience huge wins in millions after their many losses.
Under 18 bet
A study conducted by the Baraka Policy Institute (BPI) in selected communities in Accra, Kumasi, Takoradi and Tamale on the “Impact of Sports Betting on Child Education and Development in Ghana” revealed that sports betting is quickly a serious social force against the school. in some areas of the country.
If nothing is done about it, it will derail the efforts of government and non-government agencies to ensure that every child goes to school.
One of the revelations of the BPI’s research was that children between the ages of 10 and 17 are actively involved in sports betting at various bookmakers. This is illegal as the law states that children under the age of 18 are not allowed to bet.
Between 2019 and 2022, the government collected GH450 million in taxes from the gaming industry. making it difficult to tighten regulations due to taxes paid to the state.
Digitization of betting
The gaming industry accounted for the largest mobile money registrations in the country in 2019, supporting the government’s agenda of financial inclusion and digitization.
Indeed, telcos in Ghana also make millions of cedis in processor fees from the industry.
Sports experts, enthusiasts and journalists believe that the love and culture of football has influenced sports betting in the country. Beyond the core football fans, sports betting in Ghana is now big business.
The sports betting market in Ghana has grown exponentially in the last decade alone. In 2014, sports betting companies in the country operated only from brick-and-mortar betting shops.
However, the increase in smartphone ownership, improved internet accessibility and significant progress in financial inclusion have boosted the operations of betting companies. Mobile apps and mobile-friendly websites have made it easy for Ghanaians to bet on their favorite sporting events regardless of time and place.
Betting regulation
The Ghana Gaming Commission (GCG) is busy regulating the influx of new gaming operators seeking to establish themselves in the country.
Today, there are 31 licensed sports betting operators in Ghana. In less than a decade, the number grew from just 12 licensed companies to 31.
One would agree that advertisements promoting the businesses of one operator or another have become commonplace – billboards and paraphernalia are everywhere.
Ghana’s online sports betting market is projected to grow by 5.36 percent from 2024 to 2029. This means the market will reach a volume of US$39.50 million by 2029.
Betting Tax
The Ghana Revenue Authority (GRA) said the government hopes to collect GH₵1 billion annually in direct taxes from the gaming industry.
The Ghana Sports Betting Association (GHASBO) has claimed that the industry’s advertising expenditure is conservatively estimated at GH₵200 million annually.
Meanwhile, a new sports betting tax sparked nationwide controversy in August 2023. The government introduced a 10 percent withholding tax on betting and lottery winnings.
Applies to point of payment for all bets, games and lottery winnings. The regulation aims to mobilize domestic tax revenues and address the country’s economic challenges.
Betting Industry CSR
Sports betting companies have also made significant contributions to corporate social responsibility. They have provided a platform for many people in the sports industry to get educated and reinvent themselves.
Sports betting companies have provided headline sponsorship for at least eight Ghana Premier League teams in the past five years. Indeed, the contribution of sports betting to the Ghanaian economy has been extensive.
conclusion
The role of sports betting in economic development cannot be overemphasized and the impact on society, particularly the youth, is far-reaching.
While it is a fact that sports betting is here to stay, it is important to tighten the regulations around the industry to deal with its excesses. The practice of children under the age of 18 becoming addicted to gambling must be controlled – urgently!
The regulator must ensure punitive measures against underage betting – for example by revoking the licenses of betting companies deemed impossible, while educational institutions and teachers must be sensitized and empowered to control student gambling.