Online gambling and betting markets are witnessing a serious boom in direct contravention of the law in Libya, an underground industry report cited the main forces and dynamics driving it.
Legal perspective
By Libyan law, gambling has been illegal since 1953, and the Cybercrime Law of 2022 gives more muscle to authorities to search and block alleged sites.
Market Reality
Otherwise, over 1.25 million Libyans are active online players. At the center of this growth issue are:
Demographics: The population is predominantly under 30 years old, accounting for approximately 60%.
Technology: With high smartphone penetration, 62% 4G coverage, and widespread use of VPNs.
Access: For Megapari and Betwinner, offshore, well-known platforms remain very much accessible.
Market Segments
Sport betting leads, especially in football. Online casinos, growing in popularity (with slots and roulette), and e-sports are also significant aspects. The market is a mix of sophisticated offshore sites with smaller, covert local shops with offices in a handful of ground cities.
Much to the dismay of investors and regulators, Libya presents a curious case of high demand being hindered by legal impediments.