Nigerian betting market valued at $2 b, 60 m people bet daily

Harrison Ehiaguina, Chief Marketing Officer of newly launched Koretbet, an online betting platform has put the value of Nigeria’s bourgeoning betting industry at about $2 billion.

Speaking in Lagos at an event to mark the re-launch of Koretbet and announcement of its partnership with Napoli football club in Italy, Ehiaguina said about 60 million Nigerians of all ages, but especially between 18 and 50 bet daily.

Ehiaguina who was giving credence to the deepening trend of betting among Nigerians said betting like in other markets is a big industry.

Describing betting as a source of distributing wealth, he said Nigerian youth is not adequately empowered in Nigeria.

He said Koretbet is an indigenous firm and “everything Koretbet is correct”. He said that on Koretbet platform, there are many options for customers.

“Whatever you bet, there is chance of winning “ – he said.

Other innovations Koretbet is offering include live sports betting and it will soon introduce use of Crypto as betting currency or payment.

Managing Director of Koretbet, Sylvester Odion, also spoke at the event, highlighting that the betting platform is powered by AI that analyses betting options and advises users on the probabilities surrounding their bets, reducing the risks of losing.

Cubana Chief Priest who attended the event congratulated Koretbet on its relaunch and expressed his desire to partner with them for success. In response, Koretbet’s Chairman, Korede Adeyemi, expressed appreciation and looked forward to the partnership.

Koretbet’s relaunch and partnerships signal a new chapter for sports betting in Nigeria, delivering enhanced odds, exclusive promotions, and a safer betting experience.

Other management staff who were confident of Koretbet offering said that the firm is ready for competition and they have plans to go global.

Source: businessday.ng

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