Interwetten enters Africa for the first time with Nigeria launch
Interwetten has entered the African market for the first time, after receiving a license to offer sports betting in Nigeria.
Regulatory body, the National Lottery Regulatory Commission (NLRC), awarded the operator a national license that allows it to offer sports betting and associated products in Nigeria, via interwetten.ng.
The brand will offer sports betting, virtual sports and esports on both mobile and desktop, while streamlining its website to adapt to the Nigerian market.
Market entry will be accompanied by marketing campaigns, including using a former Nigerian national football team player, while Interwetten aims to participate in local social projects.
Interwetten Speaker of the Board (CEO) Dominik Beier said:
“The market holds some challenges but also a variety of opportunities for us. The enthusiasm for sport and betting in this country is enormous. We can produce a product with the highest European standards and I am confident it will be well received. It is a real milestone in the successful history of Interwetten; we are proving once again to be a first mover in the industry.”
In January, the operator announced its best-ever financial results, with 2019 revenue increasing 25% year-on-year to €99.5m ($111.8m), and betting stakes rising 30% to more than €2bn for the first time.
Nigeria is an emerging sports betting market worth an estimated $2bn, with an estimated 84% of online traffic coming from mobile devices.