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iGaming in Nigeria: Current Trends and Future

iGaming in Nigeria: Current Trends and Future

23rd Apr, 2022 @ 11:23 am


iGaming in Nigeria: Current Trends and Future
It’s no secret that the people of Nigeria love to gamble. In numbers, it is estimated that around 60 million Nigerians between the ages of 18 and 40 are active in sports betting alone. And whether it is about sports betting or playing at casinos, both activities are simply popular in the country.
Many Nigerians are now frequenting online betting sites in South Africa or other parts of the African continent, and even the ones located outside the country. Is it even legal? Are people in Nigeria even allowed to access these gambling sites? We’ll get right to that in a bit.
More About Online Gambling in Nigeria
What you should know is that any gambling activity in the country is regulated by the National Lottery Regulatory Commission or the NLRC. However, we can still say that gambling isn’t well-regulated in Nigeria yet. This is because of the presence of illegal casinos in the country and that there are no laws in place about online gambling. 
When it comes to the Nigerian Criminal Code, gambling is addressed in Subsection 1 of Section 236 in Chapter 22. According to this, it is a crime to have, operate, manage, or live in an illegal gaming facility. However, it has no mention of prohibiting online casinos and bookies from offering their services in the country.
iGaming is still in the grey area and with that said, it is neither legal nor illegal. Despite its status, many people are still placing their bets online. 
There are legal land casinos in Nigeria like the following:
. The Federal Place Hotel in Lagos
. Le Meridien Eko Hotel & Casino
. Transcorp Hilton Casino
However, it’s simply much more convenient to play real money games and bet on sports on online casinos and online bookies.
Nigeria Betting and Gambling in Numbers
On average, NOI Polls reports that Nigerian punters would spend around 3000 Naira every day on bets. This report also mentioned that the Klynveld Peat Marwick Goerdeler (KPMG) also said in 2016 that the leading betting company in the country would have a monthly turnover of $10 million.
NOIPolls also found that around 77 percent of the people they surveyed agree that there is a high prevalence of betting and gambling in their locality. 36 percent of the people they polled also admitted that they engage in betting and other gambling activities themselves, and 53 percent of this number would gamble daily.
When the respondents were asked about why they think Nigerians engage in gambling activities, 30% answered that it is for them to make quick money. Some of the popular answers are unemployment with 21%, Greed with 15%, and Economic Hardship with 12%.
Where iGaming is Heading 
With the rise of iGaming and betting in Nigeria, we can only expect that more online casinos and bookies will penetrate the local market. However, the Nigerian government is also noticing how gambling is becoming very popular in the country.
That said, there are only two possible outcomes here: the government will have gambling restrictions in place or will regulate the industry instead.
It’s hard to say whether the government will prohibit gambling but we think it’s unlikely. It seems like the government is rearing towards regulating gambling activities instead, particularly online gambling. 
This is why the NLRC has also been issuing licenses for sports betting and online interactive gaming. It was recently announced that online gaming and betting sites not licensed by the NLRC will be considered illegal in the country. However, this hasn’t been made official yet.
Nigerians are still placing bets online anywhere they prefer because they still can anyway. However, likely, unlicensed sites will eventually be banned in Nigeria. With that, players and punters should check the NLRC site for the complete list of licensed operators.
So far, here are some of the companies with sports betting permits and interactive gaming licenses.
Sports Betting:
Africa Betting Company Nigeria Ltd (Afribet)
KC Gaming Ltd (Bet9ja)
AlphaGram West Africa Ltd (Alphagramwa)
Promoserve Inter Links Ltd (iBet)
Over the Top Entertainment Ltd (Nairabet)
Interactive Gaming Solutions Limited (Cloud Bet)
EPL Partners Nigeria Limited (BetBonanza)
SV Gaming Limited (BetKing)
Online Interactive Gaming:
Truthware Solutions Ltd (Truthware Games)
BUD Infrastructure Limited (Lucky Mall App)
Betty Bingo Limited (Online Bingo Games)
Calgary Online Limited (Empawa Games)
Samsson Systems and Investments Limited (Golden Dream Promo)
Casino City Nigeria Limited (Casino City)
International Gaming & Entertainment Ltd (Mega Millions Nigeria)
Otto International Tech PVT Limited (Moje Games)