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About Wicked Witch
But, as Robinson warns, the opportunity to enter Africa doesn’t come without challenges.
“It’s profitable, it’s growing and it was for sale from a distressed vendor,” he says. “That combination rarely appears in regulated Europe, where scaling a B2C brand means paying up for customers against Flutter and Entain on thin margins.
“Africa isn’t saturated, but I wouldn’t call it easy either. Betway and the local incumbents are well dug in. The difference is that you’re competing for a market that’s still forming, at a fraction of the acquisition cost, and the operating margin is there if you get the payments and the product right. The risk is regulatory and currency rather than competitive.”
About Wicked Witch
Unlike regulated sportsbooks, prediction markets allow customers between the ages of 18 and 21 to trade on sports-event contracts. Craig Carton, a sports talk host with WFAN 660 AM in New York, criticised the athletes for their endorsement of Polymarket. Carton, a recovering compulsive gambler, opined that the “unregulated” gambling markets are driving Americans into bankruptcy and kids out of school. Regulated books prohibit those under 21 from betting on their platform, leading Carton to question the celebrities for promoting the company.
“At what point does someone come along where you say no to the offer?” Carton asked.
A Bank of America study released on 1 September found that the median deposit account balance of households that participated in online betting was 59% higher than households that avoided the activity. As prediction markets rapidly expand alongside traditional sports betting, the findings have prompted “some to blur the lines between entertainment and investment”, according to a proprietary study undertaken by BofA.
What is Wicked Witch?
The fine followed an investigation that found Company X had failed to correctly identify 29 high-risk players at an appropriate risk level. Six players were missed entirely and 23 were misclassified at a lower risk tier.
The regulator also launched a public awareness campaign earlier this year during the 2026 World Cup to warn of potential gambling addiction risks associated with increased sports betting during the tournament.
Kathryn covers bitesize breaking news with a primary focus on EMEA and US legislation. A proud North Walian, fluent Welsh speaker and lifelong Wrexham FC fan – long before Hollywood came calling.
