Spiffx has entered the African market after signing a deal to launch its B2B white label product, Take5Live, on regional sports betting and gaming operator Cheza Gaming.
As a first step for the partnership, Take5Live, a game based on Spiffx market activity that allows customers to place bets on there being a goal within the next five minutes, will be launched in Kenya.
However, this is likely to be precede launches in some of the other African countries for which Cheza Gaming holds a gaming license, such as in Tanzania, Rwanda, Burundi, DRC and Uganda.
Lennart Gillberg, Spiffx founder, commented: “We are thrilled to start a partnership with Cheza Gaming, and for the opportunity to enter the African betting market with our products. The African market is, to a big extent, driven by mobile phones and lower but frequent bets.
“In some of the African countries, the development of sports betting has continued to move very fast. Our Index Market and the Take5Live product fulfils the market demand. Being able to offer betting with lower stakes and a higher pay back potential than the average odds from a traditional bookmaker is an advantage in the African market, which makes our Take5Live extra interesting.”
Barney Barrow, Cheza Gaming Chairman and CEO, said: “We are always looking for ways to engage players on a more bespoke-product approach in comparison with the normal competitor. We are very pleased to partner with Spiffx and look forward to launch its products on the markets we operate.”
Spiffx is looking to take advantage of the exponential growth recorded in Kenya’s mobile-based sports betting industry, which has been aided by the ease of placing bets online and by paying via mobile money platforms such as M-Pesa and Airtel Money.
However, the betting firms still operate in a legal grey area with stringent regulations. For example, the country’s Betting Control and Licensing Board is currently under pressure from a dozen betting firms to suspend the issuance of new permits.
The list of sports gambling platforms currently present in Kenya includes Betway, the official sponsor of West Ham United FC, as well as other players such as EliteBet, Betin, JustBet, Bet365, BetYetu, eazibet, Lucky2u, 256Bet, Royal Kenya Bets and go-bet.
Gillberg concluded: “There are not many European betting companies established in the sector, but many have their eyes on this growing market. We are looking forward to this cooperation and the possibility to create exciting products together with Cheza Gaming.”