Fantasy Sports Market in Nigeria

Probably some people in Nigeria have heard of Fantasy Sports and others have not. There is a growth in Fantasy Sports in Nigeria is due to continuous development and innovative ideas in online games. But what exactly is Fantasy Sports?

Fantasy Sports is an online game in which participants choose a virtual team of real players from different teams and win points depending on the performance of real players in real matches. The winner is the player with the highest points.

Fantasy Sports players can select their preferred players with certain points for the virtual team to be in an already set specific number of points. They can also select their captain and vice-captain who have special points too. The virtual team assembled is not limited to one league. They can play in different leagues.
Fantasy Sports is not new in Nigeria. It is quite popular with a good number of Nigerian punters. Fantasy sports is a form of sports entertainment and easily accessible to Nigerian due to a better internet connection.

The majority of Nigerian gamblers have access to the internet and mobile phones. They use mobile phones mainly for mobile sports betting- to place bets, transfer funds, watch live matches, and simply for sports entertainment. In the end, it creates a wide base for online gaming for the growing betting community.
Fantasy Sports attracts anybody who has a passion for sports and betting. Apart from entertainment, Nigerian gamblers can earn real money from Fantasy Sports. Players can be financially stable through Fantasy Sports if only the player monetizes the sport and frequently plays after doing proper research of real players. You cannot just pick any player.

The majority of Fantasy Sports players in Nigeria are teenagers and people below the age of 45 years. It is believed the Fantasy Sport concept is actualized by the elite middle class of Nigeria. This statement has a bit of truth since players will need a good internet connection that is available in urban areas where the elite middle class lives.

According to research, 100 million people are connected to the internet, close to 85 million people in Nigeria follow football events, and close to 800k people in Nigeria are actively involved in Fantasy Sports. Generally, Nigerians love sports, especially football. Besides, sportsbooks have tailored their products around football such as fantasy football or virtual football to meet the growing demand for sports culture.
Part of the growing demand for sports culture in Nigeria is Fantasy Sports. Fantasy Sports market growth is remarkable as a result of the advancement of technology and digital development. Smartphones’ new models are easily accessible in Nigeria due to the affordability and Nigerians would not want to miss out on fast affordable internet and what the digital market has to offer.

The combination of smartphones, fast internet, and the growing digital market has influenced the trends in the Fantasy Sports market in Nigeria. It is expected by the next 5 years, the Fantasy Sports market will pass $5 billion and the revenue from gambling will increase by 16%.

Like any other market in the market, the Fantasy Sports market has its fair of challenges. Firstly, the app used should be user- friendly to both new and experienced players. Fantasy Sports software developers should not create it for experienced players only. Secondly, Fantasy Sports involves a lot of data and the team responsible should ensure that the data is well managed and integrated for the greater good of the gaming community. Lastly, Fantasy Sports platform should properly advertise to reach a wider audience who might be converted to potential Fantasy Sports Players.

Nigerian gamblers are not limited by laws to participate in Fantasy sports- it is entirely legal. With the legal part sorted, Fantasy Sports promises economic growth in Nigeria. The government will benefit from the revenues, the sportsbooks will benefit from players and the players will earn income from the payouts in case the platform is monetized. Note that not all Fantasy Sports platform offer money when the player wins.

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