Malawians can now place sports bets following the opening of a sports betting company in the country called Premier.
Premier officially launched in Blantyre on Friday, and their main shop is located in Limbe at the Malawi Postal Corporation offices.
The opening of the betting agency comes as the world’s most popular soccer league, the Barclays English Premier League (EPL) kicks off today, Saturday 8th August.
Sports betting is a form of gambling that entails placing a wager, also known as a bet, on the outcome of a sporting event.
“People will be able to come in and bet on international games, including European leagues, virtual horse racing, virtual football, golf and many other games,” disclosed Darren Glover, Premier’s chief executive officer during the opening.
Currently, the company has opened seven shops in Blantyre and is expected to spread in Lilongwe, Zomba and other areas across the country to give more Malawians a chance to play and win.
People will be able to bet any amount of cash on three outcomes: 1 which is for a win for the home team, X for a draw and 2 for the away team to win. Each of the three outcomes is given a value which is referred to as ‘Odds’.
The minimum of betting is K200, with no limit on how much one wants to stake and people can win up to K5 million depending on the number of games or the odds of a particular bet.
According to Glover, out of the 17 countries that his company operates, among them Liberia, Gambia and Tanzania, the numbers of people that follow international games especially the EPL via DStv are higher in Malawi.
“The popularity of football in terms of the numbers that go to watch soccer matches, Malawians are very keen on football and we believe they will also be keen to bet on European football,” indicated Glover. “We’re very encouraged with the response so far.”
He however said the company has no immediate plans to consider betting on local games because “there’s no expertise in Malawi”.
“All of the odds are set in London, and the Malawian football is very particular to Malawi. But if there’s a demand we’ll certainly look at it in the future,” explained Glover.
In an interview, Malawi Gaming Board chief executive officer, Master Maliro, welcomed the opening of the sports betting company in the country.
“Government is going to benefit a lot through the revenues for social causes. We’re going to add we have already been collecting,” said Maliro.
He added: “The company is also offering employment to young Malawians and apart from all that it is a source of entertainment to the soccer fraternity in the country.”
Premier was officially opened by Malawi Gaming Board and National Lotteries Board chairperson Billy Banda.Follow and Subscribe Nyasa TV :