Gambling has been a part of the Nigerian culture for many years. At first, it was heavily stigmatized, but the development of technologies and openness of borders made gambling one of the most popular ways of spending time and money.

In 1990, the government has legalized games of skills through the Criminal Act Code, so sports betting, land-based casinos, and lotteries could be enjoyed with minimum restrictions. Currently, the industry is supervised by the National Lottery Regulatory Commission, which ensures that game providers pay taxes and Nigerians – play only approved games. For example, blackjack or poker. 

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The love for sports has boosted interest in betting even though the taxes on winnings may reach 20%. In addition, the industry has flowered thanks to broader access to technologies and international gambling sites. But like with any topic, it is essential to weigh all the pros and cons to elaborate clear rules and strategies that protect locals and ensure transparency. Below, we want to discuss the main arguments for and against sports betting and its impact on Nigerians.

What Supporters Think

According to recent reports, around 60 million people in Nigeria are involved in sports betting. They are active in local markets and research the highest-rated casino operators for New Zealand gamblers and Swedish punters. The main factors of increased interest are considered high unemployment rates and poverty. People see betting as a way to make money without finding a job or education.

However, sports betting often becomes a way to engage people with the same vision and goals. They visit offline and online betting sites, communicate, share experiences, and make friends. With time, they organize sports clubs, team up for games, and do family activities. This builds stronger relationships inside the society and prevents Nigerians from bad habits like alcohol and drugs.

In addition, this pastime is very beneficial for the government, as sports betting venues pay significant taxes. This money is used to support those who live below the poverty line, build infrastructure, and even educate children. Another less obvious advantage of sports betting is that it boosts technological growth and improvements. Many developers and companies want to create their own products which bring the local labor market into action.

Reasons To Object

While sports betting becomes more and more popular, there are still several significant problems that the industry faces at the moment. First of all, many locals, especially religious ones, consider it a sin and advocate that gambling has never been a part of the Nigerian culture, so should be banned.

There are also many arguments regarding poor control over the market. Even though the National Lottery Regulatory Commission does its best, there are still many loopholes that scammers and unreliable bookmakers use.

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There is also a big number of Nigerians who spend all their money on betting and often get into debt. They lose jobs, try to make up for the losses, turn to lenders, and get into much trouble. Finally, it is very difficult to determine the age of bettors. Nigeria doesn’t have a standard approach to age identification which results in a big number of underaged players that spend pocket money on gambling.

Luckily, these problems are gradually improving thanks to international standards and policies. For example, more and more betting sites follow responsible gambling measures to prevent the development of addiction and underaged players. Responsible Gambling Council, as well as other institutions, aim to reduce gambling risks by raising awareness and improving existing technologies. The more Nigerian bookmakers and gambling sites cooperate with such agencies, the safer the industry becomes.

There is a bright future ahead

A fast increase in Internet coverage and the number of mobile phones, has boosted the sports betting market in Nigeria and reached $2 billion. That is why more and more attention should be attracted to the ways that ensure fair, safe, and transparent betting.

Hopefully, both the government and players will continue moving in the right direction and the market – experience positive changes year after year. Follow our updates to learn more about gambling and industry news!

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