How much is BetKing net worth?

BetKing is the trading name of Blue Lake Ventures Limited, a pan-African sports betting and entertainment business with major operations in Nigeria. The value of MultiChoice's initial investment in BetKing was said to be worth more than $100 million.

techcabal.com - MultiChoice is increasing its stake in BetKing for $281.5 million

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Seven months after taking up an initial 20% stake in BetKing, South African pay TV operator MultiChoice plans to increase its shareholding in the online gambling company to 49% in a $281.5 million deal. BetKing is the trading name of Blue Lake Ventures Limited, a pan-African sports betting and entertainment business with major operations in Nigeria. The value of MultiChoice’s initial investment in BetKing was said to be worth more than $100 million. The decision to double down on the gambling company, approved by the MultiChoice board on Thursday, is in line with the company’s strategy to expand its entertainment ecosystem and develop meaningful drivers of future value, a statement from the South African entertainment giant reads. “Consumers have a growing abundance of entertainment options available to them. It is therefore important for MultiChoice to maintain its relevance and grow its share of engagement time and consumer spend by expanding its entertainment platform with a more comprehensive offering and a greater number of products and services,” the company said, explaining the rationale behind its increased investment in BetKing. According to MultiChoice, pursuing an adjacency such as sports betting creates a “natural extension” to its video entertainment platform to further enhance its product offerings. In other words, sport betting augments the company’s business given sports is a major revenue source. BetKing’s annual statement for the financial year ended December 2020 shows a growth in revenue to $77.9 million, from $54.7 million in the previous year. Meanwhile, net asset value stood at $100.2 million. It is thus not hard to see the appeal in investing in the major sports betting company also considering that the market is growing significantly globally. Between 2020 and 2024, the industry is expected to grow by more than $134 billion, a Compound Annual Growth Rate of 10%, according to Technavio. Several sports betting companies currently operate in this part of the world too. In Nigeria, some popular names apart from BetKing include Bet9ja, Nairabet, Naijabet, Sporting Bet, Surebet24, etc. In 2018, it was reported that an estimated 60 million Nigerians between the ages of 18 and 40 were involved in active sports betting. Also, almost ₦2 billion was spent on sports betting daily in Nigeria, equivalent to nearly ₦730 billion in a year. Yet, Africa accounts for only 2% of global sports betting revenue. As the regional market begins to play catch up, it is poised for significant growth. If you enjoyed reading this article, please share in your WhatsApp groups and Telegram channels.

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Can I bet if I am 18?

In terms of sports betting, all but four states require residents to be at least 21 years old in order to take part, those being Montana, New Hampshire, Rhode Island and Washington where the age limit is 18 and over.

rotowire.com - Can you bet on sports if you are under 21 years old? - Rotowire

Can you bet on sports if you are under 21 years old?

While 21 is the more common age limit, there are states in which you can bet on sports if you are at least 18 years old. Each state determines its own age requirement and there are some states with different age levels, depending on the location. In terms of sports betting, all but four states require residents to be at least 21 years old in order to take part, those being Montana, New Hampshire, Rhode Island and Washington where the age limit is 18 and over. As for gambling in general, some states may have an age limit of 18, but at casinos that sell liquor, you have to be at least 21 years old. Alabama 21 Alaska 18 Arizona 21 Arkansas 21 California 18, 21 Colorado 21 Connecticut 18, 21 Delaware 21 Florida 18, 21 Georgia 21 Hawaii 21 Idaho 18 Illinois 21 Indiana 21 Iowa 21 Kansas 21 Kentucky 21 Louisiana 21 Maine 18 Maryland 21 Massachusetts 21 Michigan Indian casinos 19, Detroit casinos 21 Minnesota 18 Mississippi 21 Missouri 21 Montana 18 Nebraska 18 Nevada 21 New Hampshire 18, 21 New Jersey 21 New Mexico 21 New York Seneca casinos 21, Other casinos 18 North Carolina 21 North Dakota 21 Ohio 18 Oklahoma 18, 21 Oregon 18, 21 Pennsylvania 21 Rhode Island 18 South Carolina 21 South Dakota 21 Tennessee 21 Texas 21 Utah 21 Vermont 21 Virginia 21 Washington 18, 21 West Virginia 21 Wisconsin 21 Wyoming 21