Nigeria currently has the second largest online gambling market in Africa, behind South Africa, but projections are that the west African nation will rise to the top in the next few years.
The growth of online gaming in Nigeria can be attributed to several factors. There is the large youth population, as well as the poor economic situation, but the biggest contributor has arguably been the technological growth in the country.
The gaming industry has continued to expand, benefitting from; the large and youthful population, improving internet penetration, and the increasing access to internet-enabled devices. Sports betting has slowly emerged as a lucrative segment, leveraging Nigeria’s huge football culture.
The online betting in Nigeria has received a major boost due to the following factors:
Being a major factor for the thriving of the gaming industry in Nigeria, about 150 million persons in the next five years, are expected t be connected to the interner, seemlessly, in Nigeria. This has had a very direct effect on online sports betting, as millions of people can easily get online and place their bets.
Being also another major factor for the thriving of the gaming industry in Nigeria, more and more persons have had increasing access to gaming in Nigeria.
In a report released by the Nigeria Communications Commission in January 2020, the total number of GSM subscriptions in the country had reached 185.74 million.
Easy Deposit Methods
Paying into a betting site has become extremely easy. Once you have your bank account and your ATM Card, you are good to go.
Improved User Interface
Websites of online gaming companies operating in Nigeria are now taking advantage of the ever-improving technology at their disposal to create and design more appealing platforms, and improve the overall gaming experience of their customers.
Online gambling in Nigeria is regulated by the Nigerian Lottery Commission. All bookmakers are required to obtain a license from the gaming commission before operating in Nigeria. Nigerian law does not mention online space and there is no restriction for the people to reach local or foreign gambling sites.