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Peter Kesitilwe, CEO of the AiA, added: “SmartSoft already has significant exposure to African markets, and we look forward to working with their team on issues ranging from B2B licensing and market access to responsible gaming, channelisation and sustainable regulation.”

The AiA said this was the latest example of its objective of bringing industry stakeholders into “constructive dialogue” as Africa’s gambling market develops.

“Our aim is to create an environment in which regulators, operators and suppliers can engage constructively on the opportunities and challenges facing the industry across the continent,” Kesitilwe stated.

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“People will lose money faster on exchanges for lots of reasons,” Marantelli says. “It inherently increases spend, volatility, lots of things. And you’re playing against a sharper audience than you’re playing against at the DraftKings sportsbook.”

He compares the effect with sportsbook cash-out features, which gave customers more apparent control over their bets but may also have encouraged greater spending. The crucial difference is that an exchange customer can be facing a specialist whose entire business is identifying inaccurately priced contracts.

Kendrick sees a warning in the history of betting exchanges. In their early growth phase, there was sufficient retail liquidity for numerous market makers to profit. As that retail pool weakened, the sharper firms increasingly found themselves trading against one another.

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The mystery surrounding who won the $1.04 billion Powerball jackpot drawn on Aug. 12, 2026, has been solved—sort of. The Illinois Lottery announced that the winner came forward this week to claim the prize but chose to remain anonymous.

The big Powerball winner took advantage of Section 7.2 of the Illinois Lottery Law, which governs disclosure rules regarding winners’ identities.

Under Section 7.2, a winner of a prize of $250,000 or more can request to keep their name and municipality of residence confidential while completing their Illinois Lottery Winner Claim Form.