Premier Bet cuts out 1500 bet agents
Premier Bet Malawi has terminated contracts of 1 500 agents nationwide, but the company says the decision will not affect online and shop betting business.
Premier Bet Malawi chief executive officer Trevor Whitaker told The Nation yesterday that online betting has affected field agent business; hence, the decision.
He said: “This decision was made because this department is not being profitable. It’s the agents in the field who will be affected by this decision.
“This has nothing to do with shops and online platforms. For the shops and online, it is business as usual.”
In a letter dated September 26 2023 addressed to Premier and Lotto agents, the firm said following the termination of the bet agents agreement, there will be no ticket sales through Premier Bet field agents spread across Malawi.
The sports betting company said the decision, which is effective September 30, was influenced by non-profitability, decreasing performance amid continuous surge in competition and increasing operational costs amid deteriorating economic environment.
Reads the statement in part: “We understand that this may come as a disappointment, but we believe it is in the best interest of both parties given the circumstances.”
On the termination of the contract, Premier Bet Malawi said all premier bet agents are required to cease ticket sales and operations on or before this date, return their terminals and collect commission or security deposits starting from October 3 2023 and settle outstanding balances this period.
In an interview yesterday, one of the agents, Masiye Maxwell, said the decision has rendered him jobless.
“I have a wife and two kids to feed. So, this means survival will be difficult for us,” he said.
In a separate interview yesterday, Bram Fudzulani, United Nations Internet Governance Forum multi-stakeholder advisory member and technology expert, said the shift towards digital technology has influenced consumer behaviour, allowing them to easily engage in betting activities online.
Premier Bet Malawi, which dominates sports betting in the country, is dominated and operates in 17 territories across SSA, was launched in Blantyre, Malawi in 2015.
