The Nigeria gambling industry is regulated by the 2005 National Lottery Act, and the 2007 National Lottery Regulation where specific requirements are set in place to regulate the gambling business activities in Nigeria. Let’s take a quick look at the process involved to obtain gambling and gaming licenses. The global gaming industry is on the up. Sports betting, online casino, console and mobile gaming, and esports: their value is increasing. Nigeria, with its mid-twenties-to-forties weighted and... In fact, it is estimated Nigeria will become one of the fastest-growing markets in Africa, within the next five years. Let’s take a closer look at Nigeria’s gambling scene as a whole. Nigeria Gambling Industry. Players residing in Nigeria can participate in a variety of casino games and betting. Some of these include, the national lottery, casino games (table games, video slots and progressive slots) and sports betting. In a report issued by Pricewaterhouse Coopers (PwC), the results ... Europe dominated the online gambling market with a share of 41.0% in 2019. This is attributable to the legalization of gambling in countries such as France, Germany, Spain, Malta, and Italy. Top Gambling Statistics in Nigeria. There are over 60million Nigeria who has been actively involved in sports betting; The sports industry in Nigeria is ... About 4 In 10 Nigerians Engage in Gambling in The Country. Abuja, Nigeria. September 16th, 2019– Nigeria is one of many countries that is being inundated with sports betting. The Nigerian sports betting (online and offline) and gaming industry has grown geometrically in the past few years. This remarkable growth can be attributed to the country’s population and increased access to the internet via enabled internet devices such as mobile phones, tablets, laptop, desktops etc. The two gambling cities in Nigeria, i.e, the cities with a legal gambling facilities are Abuja and Lagos. Lagos is the largest gambling city in the country and it has 1 gambling facility, 10 table games, as well as 106 games, slots, and even video poker machines. However, games such as roulettes and coin flipping are prohibited in Nigeria. In 2016, the gambling industry made a total gross profit of 450 billion US dollars which was higher than Nigeria's GDP in the same period. In summary, gambling is a big deal worldwide, and betting makes a significant chunk of it. Mathematically, the odds are stacked against the player when it comes to gambling. However, that doesn’t mean that its industry is insignificant and not set to boom in the coming years. African Gambling Market Size. Before going into numbers and discerning fact from opinion ... Still, it's an opportunity for a business boom for some sectors. Africa's betting and gambling markets felt abrupt of the crisis outbreak. However, the Nigeria gambling industry is one of the countries in Africa that was significantly impacted by the global coronavirus pandemic seeing the retail market of the Top accounting and auditing firm, PricewaterhouseCoopers, in 2018, reported that Nigeria was the second-largest online betting market in Africa, with gross gaming revenues of $58 million for that...
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