Nigeria is known worldwide as Africa’s largest economy, number 12 on the global oil production scale and position eight on the list of the largest exporters of oil. The country is also known for its love of gambling, an affair that dates back to the 60s and comprises of charity-based lotteries, sports betting as well as casino content.
As the country ushered in the new millennium, the most popular gambling offerings were betting pools, slots, and lotteries. Plus, gambling Nigeria was not regulated but, from the 90s onwards, the gambling space began to change, especially after the introduction of laws and policies to regulate the industry, including the Taxes and Levies Act of 1998 and 1999, Casino and Gaming Law of Lagos 2004 and the National Lottery Regulation Commission of 2007.
Additionally, with increased internet penetration, mobile technology has become quite common in the country, ushering in the age of mobile and online gaming. As a result, gambling in Nigeria is split into the following categories.
Lotteries
These are very popular in the country, explaining why there are quite a several regulated and licensed lotteries. Nigeria’s National Lottery Act (2004) started regulating the nation’s online lottery, commonly known as Lotto Nigeria. Its purpose is to raise funds that will be used to develop sports and support other important causes.
Tickets can only be sold by operators to the public directly if they are in support of charitable causes. Anyone found selling to third parties is liable to a 6-month jail sentence, a 100 Naira fine, or both. Most of these lotteries are licensed by the country’s regulator. This regulator oversees and regulates the companies that run lotteries, promotions, games of chance, and scratch cards.
Sports Betting
Sports betting is widely popular in the country. Nigerians can place bets on sports offering at betting retail shops or via the phone at several local sportsbooks. Football is especially popular, as are tennis, basketball as well as cricket and many other international events.
While Nigerians are quite fond of sports betting, online casinos are also becoming popular. Many offshore online casinos usher in players from the country and even have payment systems that process funds in the local currency. They also offer secure and safe banking methods to locals.
Licensed offshore accounts are quite popular with locals due to their convenience, vast choice of offering, and licensed in renowned regions, which offers players a great sense of peace.
Mobile Gaming
Nowadays, many renowned online casinos in the country have mobile platforms that look the same except that they provide fewer offerings. According to Money Poker Sites, most pro-Nigerian online casinos work with mobile partners that customers can access and are enjoyed by those who prefer virtual systems.
