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Opinion: Peer-to-Peer: A New Frontier for Betting?

Founder and CEO of new betting platform Wayja, Reece Jacobsen, believes the move to peer-to-peer social betting could represent a new dawn for the sports betting space. 

Sports betting is an industry over 100 years in the making, from when the Greeks first introduced the Olympic Games to the world.

Fast-forward to 2021 and that very same industry born in ancient Greece is alive and thriving worldwide in ways even Socrates himself couldn’t have imagined.

One of those ways would almost definitely be esports. From Counter-Strike to FIFA21, there is now a captive audience following and betting on the outcome of these results in the same ways as any mainstream sport, and as more people sit up and take notice, the more commonplace it is becoming. Online gaming has become a bonafide giant in the modern-day sports and entertainment industry.

And now, we’re fast approaching the next phase of the potential for esports betting in South Africa, as more people get connected through gaming across the country, and the appetite for placing a wager on the outcome continues to grow. Among others, this was one of the compelling factors behind the origins of Wayja.

Wayja is a cashless, informal betting network that allows you to bet anybody you’re connected with on the platform from anywhere in the country. So, now you or your Call of Duty team can put your money where your mouth is and lay down the challenge to anybody who will take it. Wayja aims to penetrate this peer-to-peer betting space created by opportunities like the rise of esports.

These types of social bets on your own performance are not a new phenomenon to most – just ask any golfer – but with the introduction of informal betting you’re not restricted by only being able to bet those in your fourball, and your options and potential opponents are endless.

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According to Statista, South Africa’s gaming industry is set to grow 18% over the next two years, bringing the total value to a record R5.4 million by 2023, and we are nowhere near reaching the end game. More players and more punters are being introduced to this industry with every passing day and we can’t wait to see what happens in this market next.

With esports becoming more accessible as both the financial and technological barriers to entry get lower every day, we can expect more diverse audiences to make a completely new demographic of online gamer. A completely new fun and engaging world awaits those who dare to enter.

Sport Industry Group
Sport Industry Group

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