An Overview of the Sports Betting Industry in Zimbabwe
Even though Zimbabwe still has a long way to go, this African country has a profitable, constantly evolving online sports betting industry. Many different local and international sports betting operators and brands have already emerged in the Zimbabwean gambling industry and today, Zimbabwean sports betting fans get to choose from hundreds of reputable sports betting companies.
Various forms of online casino gaming and sports betting are regulated and legal in the country. The main piece of legislation concerning the iGaming industry is the Lotteries and Gaming Act that has been in force since 1998. More specifically, the Lotteries and Gambling Act controls and regulates all sorts of lottery, land-based, and online gambling activities within the country’s borders.
The Lotteries and Gambling Act
The Lotteries and Gambling Act from 1998 also set out a very clear framework for everything that relates to gambling activities including a framework for licensing process, licensing criteria, submission requirements, compliance requirements, and everything else. The Lotteries and Gambling Act regulates sports betting, skill games, casino gaming, card games, arcades, and lotteries. Thanks to this clear framework, international sports betting sites emerged on the scene, and gambling activities of all sorts have been growing in popularity in the country for several years now.
The Lotteries and Gambling Act formed the sole gaming regulatory body the Lotteries and Gambling Board. This governmental body monitors and controls the country’s gaming industry through the main piece of legislation. The same government boy is also trusted with the important task of using licenses to online sports betting companies. The governmental body came into operation over two decades ago in 2000. In 2020, five new individuals have been appointed to the governmental body including Euginia Chidhakwa from the Ministry of Youth, Sports, Arts, and Recreation.
Other appointed members of the board include Alouis Dambudzo Matongo from the Ministry of Home Affairs and Cultural Heritage and Fredson Mabhena from the Ministry of Public Service, Labor, and Social Welfare. The Ministry of Environment, Climate, Tourism, and Hospitality Industry appointed Douglas Runyowa while Catherine Madanha Maveneka was appointed by the Ministry of Finance and Economic Development. Besides being responsible for overseeing all sorts of gambling activities in the country including online sports betting, the board is also responsible for:
- Issuing licenses to sports betting and gaming operators
- Ensuring that high standards of governance are upheld
- Ensuring that the public is protected
- Monitoring license applications
- Collecting taxes and monitoring licensing fees
- Renewing licenses
Raised Licensing Fees for Sports Betting Sites, Casinos, and Lotteries
Back in March this year, the government of Zimbabwe decided to raise all licensing fees for sports betting sites, casinos, and lotteries and the fees associated cost US$250,000. The fee is related to the processing and verifying lottery, sports betting, and casino applications. When it comes to the renewal of licenses, the fee of processing, verifying license applications costs US$50,000 and the same fee is associated with the renewal of an online casino and an online sports betting site.
The government of Zimbabwe also collects taxes on all sports betting winnings. More specifically, when a sports bettor wins on any sports betting market, he or she pays the Zimbabwean government a fixed 10% tax. Winning taxes are higher on online casino winnings as online casino gamers must pay a fixed 15% tax on their winnings. With this in mind, online sports betting activities bring sizeable revenues to the country’s government.
Online Sports Betting Sites in Zimbabwe
In the last several years, many international sports betting brands opened their virtual doors to Zimbabwean sports betting fans. In fact, there has been a major proliferation of sports betting sites mainly driven by the rising popularity of the English Premier League among Zimbabwean sports bettors. Equally popular are retail sports betting places. To follow the latest trends, most of these retail sports betting brands invested in iGaming platforms to allow Zimbabwean sports bettors to wager on sports remotely using their mobile or desktop devices.
Most Zimbabwean sports betting sites allow punters to fund their online accounts using their Visa and MasterCard debit or credit cards. Other commonly accepted payment options include popular e-wallets such as PayPal, Skrill, and Neteller, and cryptocurrencies like Bitcoin. Zimbabwean sports betting fans also use different mobile payment services that their mobile service providers offer.
Speaking of mobile sports betting, all of the most renowned sports betting sites operational in the country are compatible with all modern smartphones and tablets that run on iOS and Android operating systems. In most cases, bettors access these mobile sports betting sites instantly via their portable devices’ web browsers while other times, they download mobile sports betting apps and wager from there. No matter which route they take, they can deposit and withdraw, place bets, and claim bonuses while betting on the go.
The best international sports betting sites in Zimbabwe boast a rich selection of betting markets and competitive betting odds and as shown here, the number of available sports markets to bet on goes over twenty. Some sports betting sites feature even richer sports betting selections with over thirty sports to bet on. Payouts usually range from 92% to 94% and Zimbabwean bettors are offered quite competitive betting odds.
In addition, the best sports betting sites in Zimbabwe rewards their punters with great bonuses and promotions. In some cases, these bonuses and promotions are related to certain sports such as football, other times they can be used on a whole range of sports betting markets. Free bets, welcome bonuses, and match deposit bonuses are commonly offered.