What Are The Important Gambling Laws In Nigeria?

In Nigeria, lots of sports fans like to have a bet on the big game. But there can be confusion over the legality of betting on sport in the country. The lack of regulation of betting in Nigeria also means that some people who want to gamble may be unsure over whether or not it is safe and secure to do so.

Casinos are also popular in the biggest cities in Nigeria, with the Federal Palace Hotel in Lagos one of the most popular places to have a bet in the country. Here is the BettingGuide Nigeria guide to important gambling laws in Nigeria right now.

History of gambling in Nigeria

Nigerians have long liked a bet, though gambling has been frowned upon in parts of the country, especially by religious people due to the fact it was discouraged by the church. However, in the early 1990s, a change to the law by Nigeria’s government legalised certain types of gambling in the country. One of the primary reasons the government did this was in order to raise much-needed tax revenues from the gambling industry. Similar moves have been made in other countries, paving the way for gambling to become a lot more common with online sports betting one of the most popular types of gambling these days.

Justice as the bedrock of democracy in Nigeria

Lotteries and slot machines are also popular among people who like to have a bet in Nigeria. Research has suggested that more than a third of adults in Nigeria have gambled, with more than half of these individuals betting on a regular basis.

How is gambling in Nigeria regulated?

The National Lottery Regulatory Commission is responsible for the regulation of gambling in Nigeria, with the organisation having been founded back in 2005. It was set up as part of the National Lottery Act, which split gambling into legal and illegal betting. As a result of the act, games such as roulette were made illegal in the country, while non-skilled card games and dice games are also not permitted.

The National Lottery Regulatory Commission takes responsibility for making sure that gambling operators in Nigeria stick to the rules. Companies in the sector are allowed to offer sports betting, as well as lotteries, while it is permitted to run a land-based casino in Nigeria as well. In order to operate a gambling company in the country, businesses have to secure a license from the gaming commission. What might confuse some people in Nigeria is that there is no special regulation of internet gambling in the company, despite the rise in popularity of this activity.

Many countries around the world have introduced regulation of internet gambling such as online sports betting in recent years, but this is not the case in Nigeria. This is one of the reasons why some people think that regulation of betting in Nigeria could be better, especially as there is so much illegal gambling in the country. The minimum legal age to be able to gamble in Nigeria is set at 18 years, which is broadly in line with most other countries around the world where betting is permitted.

What payment methods are permitted at Nigerian online gambling sites?

In some countries where online gambling is legal, certain payment methods cannot be used. But this is not true for Nigeria, where a wide array of banking options are offered to users who sign up to online casinos and sports betting sites. Debit cards remain one of the most popular options for payment methods at such sites, though the use of e-wallets has been rising fast as well. Some of the top e-wallets that can be used in Nigeria include PayPal, Skrill and Neteller, with benefits of using these options including that transactions tend to be carried out faster.

When using a debit card to make a withdrawal from an online gambling site in Nigeria, it can take a few business days for the money to appear in the player’s account. However, when using an e-wallet, the money is usually paid out in a matter of minutes.

Despite the confusion over online gambling laws in Nigeria, it seems likely that betting on sports and using online casinos is going to keep growing in popularity across the country.

Source: tribuneonlineng.com