NIGERIA Two operators secure Nigerian sports betting licences 3 years ago Iwo Bulski Post Views: 677 Nigeria’s National Lottery Regulatory Commission (NLRC) has awarded sports betting licences to Betwinner and Bet24hrs, amid efforts to expand the country’s regulated lottery and gaming industry. The pair have been licensed as the regulator looks to make the industry more transparent, by ensuring as many operators as possible are licensed. This follows the Commission prohibiting the operation, promotion and sale of tickets of all unlicensed foreign lottery businesses, after many providers failed to pay out player winnings. Upon receiving the licence, Bet24Hrs managing director Roy Jiang thanked the Commission for its help throughout the process, and pledged to contribute to the process and growth of Nigeria’s regulated gambling industry. Betwinner managing director Olatunji Idowu added that the operator was dedicated to being a trusted partner of the regulator. He said he was encouraged with the Commission’s ongoing efforts to clean up the industry, and ensure all stakeholders supported good causes. Commission director Lanre Gbajabiamila called on all operators currently serving Nigerian customers without a licence to apply for certification, warning those that failed to do so would “face the full wrath of the law” He also warned that licensees which failed to comply with regulations were liable to have approval to operate revoked. These companies were advised to pay taxes, winnings and social contributions when due, as well as hinting at changes to regulations as the industry expands. The NLRC currently offers three types of licences; companies can apply for lottery or sports betting licences, which come with a fixed NGN2m (£4,250/€5,077/$5,502) fee. A third, a promotional licence, covers online and mobile gaming, with the fee determined on a case-by-case basis. Source: igamingbusiness.com About Post Author Iwo Bulski Issues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. See author's posts Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: `bet24hrs, Lagos, Nigeria Continue Reading Previous Nigeria – The Wazobet OverviewNext Betwinner and Bet24Hrs Secure Nigerian Sports Betting Licences More Stories NIGERIA ONLINE Does Nigeria really have the biggest gambling industry in Africa? 3 days ago Szarlot NIGERIA ONLINE Safest Betting Apps for Nigerian Players 3 days ago Samuel BETTING NIGERIA 13 players win over N160m via BetKing’s ACCA 4 days ago Szarlot NIGERIA ONLINE Google suspends 5.6m advertisers in Nigeria 5 days ago Samuel EXPERTS NIGERIA Paying deeper attention to our youths 6 days ago Samuel BETTING NIGERIA Top eight apps for sports betting in Nigeria 1 week ago Samuel LOTTERIES NIGERIA How LuckyMe Nigeria is adding value to lives 1 week ago Samuel BETTING HOT NEWS NIGERIA How Nigerian celebrities are fueling the sports betting boom 1 week ago Szarlot BETTING NIGERIA Why is Nigeria not attracting the top gambling brands? 1 week ago Szarlot CASINO NIGERIA Nigeria Could Become Africa’s Premier Gambling Region 1 week ago Samuel EXPERTS NIGERIA The current state of Crypto adoption in Nigeria 1 week ago Szarlot EXPERTS NIGERIA Google delists 5.6 million advertiser accounts 1 week ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.