Gambling in Nigeria sees constant surge

Nigeria is witnessing a massive gambling surge, based on the latest data from the National Lottery Trust Fund (NLTF), with 65 million active participants spending around $975 million daily, primarily fueled by the booming online betting sector. On average, individuals spend $15 per day, leading to approximately 14 million daily online bets and transactions in the country.

For many Nigerians, gambling is perceived as a harmless form of entertainment. Presently, the most popular gambling activities in Nigeria include online sports betting, featuring promotions related to football leagues and pools, as well as the lottery and slot machines.

A 2020 report highlighted that approximately 60 million Nigerians, aged 18 to 40, are actively involved in sports betting, with football betting being the most prevalent segment. The annual spending on sports betting in Nigeria amounts to about N730 billion, and the overall market is estimated to be worth $2 billion.

Surveys conducted in 2023 revealed that Nigeria closely follows Kenya as one of the top gambling countries in Africa, with 78% of Nigerians actively participating in gambling activities. The aggressive advertising campaigns, coupled with the proliferation of mobile technology, are identified as key drivers of the betting industry’s remarkable growth.

Social media influencers, boasting millions of followers, regularly endorse online sports betting, promising substantial returns.

In Nigeria, the online betting industry is witnessing continuous growth, with several companies entering the market.

To operate, these platforms must obtain a licence from the National Lottery Regulatory Commission (NLRC), adhering to gambling laws designed to ensure transparency, protect bettors, and ensure tax compliance. The NLRC issues permits for sports betting, allowing fans to bet on exciting sports matches like the upcoming ‘Last Dance’ between Lionel Messi and Christiano Ronaldo.

Meanwhile, the Lagos State Lotteries Board (LSLB), governed by the Lagos State Lottery Law 2004, manages licensing and regulation in Lagos.

Legal landscape

The regulation of gambling in Nigeria falls under the purview of the National Lottery Regulatory Commission, established in 2005 by the National Lottery Act. The law distinguishes between legal games of skill and illegal games of chance, with the lottery, land-based casinos, and sports betting falling under the legal category.

While online betting is legal in Nigeria, certain restrictions exist. Lottery, land-based casinos, and sports betting are legal forms, while roulette, non-skilled card games, and dice games are prohibited. Players aged 18 and above can engage in legal online games, with no restrictions on using foreign betting sites.

However, foreign operators seeking to provide gaming services to Nigerian players must obtain a remote operator permit, allowing various privileges but subject to compliance and potential permit revocation for non-compliance.

Foreign operators can provide facilities for gaming to Nigerian players, including offering online slots, under a remote operator permit. This permit allows these operators to advertise their online gaming services, covering various games such as casino games, bingo, slots, sports betting, and poker.

It’s worth noting that online slot games are among the options available to players, contributing to the diverse range of online gaming experiences in the country. One option to try is 5 Lucky Lions, an engaging online slot developed by Habanero.

The Chinese culture-themed game features 6 reels and 4 rows with a low variance and 88 paylines in total. The expected RTP of 5 Lucky Lions ranges from 92.18% to 97.93%, offering players varying chances for returns.

In 5 Lucky Lions, special symbols like the smiling Buddha and drum act as Scatters, triggering Bonus Free Spins for added excitement. The maximum win achievable in the game is an impressive 4,400 times the bet.

A move towards safer gambling

In the country, gambling has a long history, initially regarded as socially undesirable and discouraged by religious institutions, particularly the church. However, a notable shift occurred in the late 1990s when the Nigerian government, seeking increased tax revenues, legalised specific forms of gambling through Chapter 22, section 236 of the Criminal Code Act.

This move aimed to make gambling more socially acceptable, even among the younger population.

However, currently, there are no responsible gambling obligations or a centralised exclusion list for gamblers in Nigeria. However, regulations on responsible gambling are pending at both the national and state levels, with Lagos state having provisions on responsible gambling in its 2021 gaming law.

The surging popularity of gambling has prompted the establishment of organisations like Gamble Alert, a Nigerian nonprofit. These organisations aim to help people to gamble more responsibly.

Source: infoguidenigeria.com

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Szarlot

I am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry.

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Szarlot

I am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry.