Nigeria has a rich and historic relationship with sports betting and has expanded that interest into the modern era. Sports betting is popular in the country amongst people who wager on football matches, specifically those from European club football competitions like the Premier League and Champions League.
While regulators in the country have concerns about young customers spending money on sports wagers, the country should stick with sports betting. Making sports betting illegal simply pushes it underground. By continuing to allow sports betting, Nigeria is guaranteeing customers can use reputable sportsbooks and get proper promotions like bonus Bet9ja to remain safe when they wager.
Giving customers proper platforms to wager is a better alternative to forcing sports betting into the black market. It also boils down to one simple fact… Nigerians are speaking and telling the government they love sports betting.
In fact, over 60 million people in the country between the ages of 18 and 40 engage in sports betting. Over ₦2 billion is spent on the industry each day. In other words, aside from being something consumers want, it is also a source of revenue for the government.
As more Nigerians have access to smartphones and the internet, the sports betting market has seen an explosion. Digital technology will continue to become more common, so wagering will continue to see growth. Over 125 million Nigerians now use the internet, while over 85% own a mobile phone.
Nigeria is seen as a massive potential market for sports betting services. As the most populous country in Africa and one that clearly loves sports betting, Nigeria is seen as an expansion market for gambling companies.
Regulatory bodies have been set up in the country to manage this booming new industry. An amendment to the gaming laws in 2007 allowed sports betting to enter Nigeria legally for the first time. This was an important step because even though sports betting was prohibited before, it was widely available on the black market.
The whole point of legalizing sports betting was to regulate the market and ensure if was not underground. Under the laws of the country, sports betting is heavily regulated. Bookmakers in Nigeria must adhere to numerous laws to host brick and mortar destinations in the country. However, the online sports market is unregulated.
This means international companies are free to operate in Nigeria. While this has led to concerns about young people accessing betting websites, proponents say it is a better alternative than allowing the black market to return. Underground sportsbooks were often dangerous and would use violence against customers.
While online sports betting in Nigeria is unregulated, the industry scores highly in the country in terms of safety. Most of the best UK and European sportsbooks are available in Nigeria. These major brands are fully regulated by strict international laws and maintain privacy and security of users. Visiting these services is significantly safer than visiting a black marker bookmaker.
The current system remains better than the alternative.