The number of Nigerians who gamble on the likely outcome of events in Nigeria is on the rise. This is largely due to increasing awareness about betting, high rate of unemployment and a high number of Nigerians who are living below the poverty line. Consequently, more betting operators that provide platforms for punters to gamble are entering into the industry. The increase in the betting behaviour of Nigerians is further supported by higher internet penetration in Nigeria and punters are now able to gamble on the operators’ website and mobile application platforms.
The Nigerian betting industry contributed an estimated 0.8% of Nigeria’s GDP in 2018. The industry provides employment opportunities for individuals who act as agents to the betting operators in various locations while providing a source of income to gamblers who gamble with the expectation of winnings.
This report provides a broad insight into the Betting Industry. In particular, the report covers:
• Overview of the Nigerian Betting Industry
• Structure of the Nigerian Betting Industry
• Trends and developments of the Industry
• Industry’s competitive strategies
• Industry’s regulatory environment
• SWOT analysis and key risk areas
• Industry Outlook