Which Operators Secure Nigerian Sports Betting Licences

Nigeria is the most populous country in Africa, where a slew of wildlife reserves and natural landmarks can be found. Gambling activities have always attracted lots of attention in the country, and the number of Nigerians who are actively involved in some form of gambling keeps on increasing.

Gambling has always been hugely enjoyed by Nigerians, and the lack of stringent regulations and enforcement makes it possible for the industry to thrive. Of course, the ever-increasing online gambling opportunities should not be overlooked as a contributor to the surge in the demand. Researches that are focused on the prevalence of the different forms of gambling in the country indicate that around 36% of adults engage in such activities, and more than half of these people do so on a daily basis.

A further increase in the demand is expected after two sports betting operators secured licenses from Nigeria’s National Lottery Regulatory Commission. Read ahead to learn more about the companies that have obtained seals of approval to operate on Nigerian soil.

Gambling Landscape in Nigeria

Gambling activities have not enjoyed universal approval in Nigeria, and, in an attempt to increase the revenues of the country, lawmakers decided to legalize some forms of gambling in the 1990s. The authority, which oversees all gambling activities in the country is the National Lottery Regulatory Commission, which was created back in 2005 when the National Lottery Act was introduced.

Under the gambling-related legislation of the country, a distinction is made between skill and chance-based games, with the latter being illegal. Thus, Nigerians are free to play the lottery, visit brick-and-mortar casinos, and bet on sports without infringing the law. In fact, the country is inundated with wagering opportunities when betting on sports is concerned, as more and more operators are now set out to penetrate the market.

Betting on sports holds a strong appeal for Nigerians, all the more so because of the technological advancement, the slew of platforms that facilitate payments, and easier access to Internet-enabled devices, among others. The popularity of betting shops is also overwhelming, and new ones are introduced almost daily.

Operators with Nigerian Sports Betting Licenses

In spite of the fact that there is no cut-and-dry piece of legislation, which addresses online gambling in particular, Nigerians are presented with a slew of local and overseas betting platforms. With this in mind, foreign platforms still need to abide by the same set of regulations that apply to land-based premises.

Throughout the years, Nigeria has evolved into the second largest online sports betting market within Africa, and researchers point out that the revenues the gambling industry of the country generates run into around $500 billion, and, as it seems, it is not likely to slow down pace any time soon. The number of operators that supply their services also increases at a robust pace, and currently, they exceed 30.

Some of the betting platforms that are currently available to Nigerians include Bet9ja, 9jaPredic, Nairabet, and 1960bet, along with major brands like Betway and 22Bet, among others. You can find all licensed sites at superbettingsites.

Back in 2020, Bet24hrs and Betwinner also secured seals of approval from the National Lottery Gambling Commission of the country. This comes as a result of the efforts of the commission to increase the size and the scope of the regulated market and cope with the grey areas in the industry.

The commission director has already directed the attention to operators that accommodate Nigerians without the needed seal of approval and prompted them to go through the procedure and acquire a license in order to avoid legal prosecution. Currently, there are three types of seals of approval operators can apply for in order to legally offer their services in Nigeria, and the fees they will face will be determined by the license type.

It should also be noted that back in 2020, the commission prohibited foreign lotteries to supply their services in the country without a stamp of approval. This move came after several operators fell through to pay the winnings of players.

Source: tribuneonlineng.com

About Post Author

Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.

See author's posts

Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.