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Nigeria Enjoys Online Betting Growth

- November 26, 2014 By Nemanja L. -

Online gambling market in Nigeria continues steady growth

Nigeria sees growth on online sports betting despite the lack of legal framework.

News Agency of Nigeria (NAN) has revealed its concerns regarding the steady growth of online betting in the country, as the number of online operators targeting male customers continues to rise.

NAN released a report stating that over NGN 2 billion (£7.5 million) is spent on betting per single day, with over 60 million of country residents, or more than one third of the population, having participated in sports betting.

Football matches from Europe’s top leagues are regularly shown on Nigerian TV channels and this has led to increased interest in football betting. Improved digital infrastructure has also allowed Nigerians to place their sports wagers via smartphone and tablet.

According to NAN, over 100 online betting websites are believed to target Naija residents, with every bettor spending an average of NGN 3,000 (£11).

Nigeria has yet to introduce a legal framework that would regulate online gambling and it is believed that the government is doing very little to monitor online operators advertising their services to country residents.

Government officials and health organisations are becoming increasingly concerned with the issue of problem gambling and this is enough to suggest the country is thinking about improving the gaming laws and regulating the gaming market.

Nigeria does not have licensed sports betting operators even if numerous gaming companies successfully operate within state limits, with Akin Alabi, owner of Nairabet, the country’s biggest gambling operator, announcing his plans to be elected the Federal Legislator of Nigeria.

Meanwhile in South Africa

South African government continues to struggle in their attempts to regulate the country’s online gaming market, according to accountancy firm PWC.

Gambling Industry Leader for PWC South Africa, Nikki Foster, has suggested that the government’s efforts to introduce a legal online gambling framework have been in vain due to the lack of political desire within the country.

According to PWC’s African Gambling Report “Gambling Outlook: 2014-2018”, South African gambling market in 2013 was worth RAN 21.8 billion (£1.2 billion) and is expected to grow to RAN 29.5 billion (£1.65 billion) by 2018.

With 37 licensed casinos operating in the country, it is hardly surprising that casino activity accounted for 76% of said market, followed by sports betting, limited payout machines and bingo.

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