Balancing Responsible Gambling, Innovation in Nigeria’s Sports Betting Industry

As Nigeria’s sports betting industry thrives alongside rapid technological advancements, the challenge of balancing innovation with responsible gambling becomes increasingly important.

With the ease of accessibility, technology affords, it has become increasingly hard to tackle gambling addiction and underage gambling, creating more gaps that need to be addressed. However, through the concerted efforts of both operators and regulators, the industry is gradually stemming the tide of this scourge.

Alexander Ezekiel, Country Manager, MelBet Nigeria, stated that while the young, tech-savvy demographic driving the growth of mobile betting, now influenced by artificial intelligence (AI), presents exciting opportunities, the safety of players must remain a top priority to ensure the longevity of the sector.

To achieve this, Ezekiel highlighted the critical role regulation, responsible gaming practices, and AI-powered systems play in sustaining the industry by promoting innovation and prioritising player protection.

“Regulation is very important. Without regulation, we create a very dangerous environment where the negatives outweigh the positives, and the industry doesn’t progress in the right way. Regulations bring structure and fairness, and they help in creating trust, both for the customers and the operators.”

– Ezekiel noted, detailing the pivotal role of creating operational systems guided by set rules.

Across Nigeria, state boards like the Lagos State Lotteries and Gaming Authority, the Oyo State Gaming Board, and the national body, the National Lottery Regulatory Commission, have continued to implement measures to ensure all operators comply with regulations protecting punters. Additionally, non-profits like Gamble Alert have continued to amplify efforts through sensitisation campaigns focused on problem gambling. Although these efforts have far-reaching influence, Ezekiel stressed that they must be continuous to keep up with the influx of new punters, tech evolution, and sharp shifts in lifestyle.

“The growth of the sports betting industry in Nigeria has been phenomenal over the last decade. We’ve seen a huge rise in interest, particularly among the younger demographic. The potential is massive. It’s not just about betting; it’s a whole culture now. This is an emerging market that people are starting to pay attention to.” – Ezekiel explained.

He added,

“Innovation is necessary for the industry to grow and stay relevant, but at the same time, we need to ensure that we do not encourage irresponsible gambling behaviour. The key is to provide innovative products but with a built-in responsibility feature. We need to make sure that our customers are aware of the risks and have the tools to gamble responsibly.”

“There’s a need for education in the industry. We need to create awareness about responsible gambling and its potential risks. It’s not just about promoting products and services; it’s about ensuring that the people who are using them understand the impact their actions can have on their lives. It’s important that they have access to the right information so they can make informed decisions.”

Ezekiel, while noting the proactive measures of operators, non-profits, and regulators, emphasised that the bulk of the work still lies with the punters, who should discern and take advantage of these sensitisation efforts targeted at them.

Technology plays a massive role in promoting responsible gambling. We use various tools like self-exclusion features, betting limits, and real-time notifications that alert players when they’ve reached their limits. Technology allows us to keep track of a player’s gambling activity and give them a chance to step back before things go too far.

“The future of responsible gambling in Nigeria looks promising, but we can’t afford to be complacent. As the market grows, so does the potential for harm. We must continue to work with regulators, operators, and the players themselves to ensure that responsible gambling remains at the forefront of the industry. It is crucial for the sustainability of the market,” – Ezekiel stated.

Source: thisdaylive.com

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Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.

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Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.