Comparing Nigeria’s sports betting policies to those of other African countries

Nigeria is one of the biggest contributors to the massively growing African betting industry, generating N 730 billion per year (about $2 billion) to the continent’s gross gambling revenue.

This is in part due to the willingness of Nigerian bettors to engage with betting companies and the supporting technological advancements. However, much of the credit goes primarily to favourable policies in recent times.

Nigeria’s sports betting policies

Just two decades ago, sports betting and gambling in general was illegal in Nigeria. The National Lottery Act of 2005 was then enacted, marking a turning point for the gambling industry. Sports betting was legalised across the countries, and the National Lottery Regulatory Commission (NLRC) was established as the primary regulatory body.

All betting operators must get a licence from the NLRC to operate in the country. And companies must pay a 7.5% tax on their gross gambling revenues. It so happens that the National and state-level authorities have yet to agree on who has tax jurisdiction. So, operators currently have a dual tax obligation to both the federal government and the state. Regardless, there are over 50 legitimate sports betting companies, and the number is continuously growing. Some of the best betting sites, according to Cheekypunter, are legal in Nigeria, such as Betway and Parimatch.

The legal gambling age is 18, and there are strict rules on gambling advertising, including a requirement that any gambling advertisement must carry a warning about the associated risks. All licensed operators are also required to take measures to promote responsible gambling. Generally, unlicensed operators are not legal and are subject to fines, but the government isn’t particularly proactive in cracking down on these activities.

How Nigeria’s policies measure up to other big sports betting nations

Nigeria is only the third country in terms of gross gambling revenue within the continent. Here’s a look at some of the other big hitters and their policies:

South Africa

South Africa is the number 1 gambling nation responsible for more than half of Africa’s annual gambling revenue, and unsurprisingly, it has the most robust regulatory framework for sports betting, governed by the National Gambling Act of 2004. The Act does not specifically regulate online betting so that remains in a grey area. However, bettors are free to bet online and on mobile devices without consequences. The licensing process overseen by the National Gambling Board (NGB) is stringent, requiring operators to meet standards of financial stability, responsible gambling, player fund protection, and regular audits.

Kenya

In Kenya, gambling is fully legal, freely promoted, and massively popular. It’s the second-largest sports betting nation in Africa. The Betting Control and Licensing Board (BCLB) regulates the market under the Betting, Lotteries and Gaming Act of 1966. The law has been updated several times to adapt to the modern realities of online betting, protect the vulnerable and increase tax revenue. The latter has prompted some major players to exit the market, though.

Ghana

West African neighbour Ghana is another one of Africa’s highly-regulated sports betting regions. Gambling is a popular pastime here, with laws dating back to the 1960s. The current framework is governed by the Gaming Act of 2006, which legalises sports betting. Like Nigeria, the law does a poor job of covering online betting. However, several licensed operators offer online sports betting which Ghanaians are free to take part in.

The Gaming Commission of Ghana (GCG) is responsible for issuing licences and ensuring compliance with the law. Ghana’s approach places a strong focus on transparency and fairness, as well as the protection of minors and promoting responsible gambling.

Nigeria’s sports betting scene is quite similar to that of other African countries. With continued innovation and collaboration, Nigeria’s sports betting industry promises further expansion in the future. Laws are constantly changing, and policies are constantly being improved. And the same can be said for other African countries and their regulated sports betting efforts. The common denominator is that these countries are moving towards achieving a more regulated and responsible gambling environment for long-term sustainability.

Source: newtelegraphng.com

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