Nigeria is witnessing an exciting growth in online gambling. H2 Gambling Capital predicts Nigeria's gross gambling revenue will reach €675.1 million by 2025. But how does online gambling manage to achieve such staggering growth when the authorities are struggling to combat gambling?
Nigeria's demographic potential
The first thing to note is Nigeria's demographic situation. The country is the most populous in Africa, with a population of over 200 million people. The Economist predicts that this figure will double to 400 million by 2050. In addition, Nigeria's population is very young.
According to World Factbook projections, approximately 41% of residents are under the age of 14. The average age of the country's residents is 19 years old. Considering all these demographic aspects, it becomes clear why the authorities are so concerned about the development of the gambling industry. After all, young people are more likely to be exposed to gambling addiction, which is becoming a problem for the country.
Since Nigeria has a large youth population, not only local gambling operators, but also international brands like Betano and Betway. Also if you study the search engine, you can find casinos like 1xBet, Mostbet and Pin Up. Melbet has received the most positive reviews, where there are thousands of games. To start playing, you need to open a Melbet account on the website or mobile app. To create an account, you need to fill in a few fields. You can register in a few seconds through your social media profile.
Olabimpe Akingba, a former Executive Secretary of the Association of Nigerian Bookmakers, is excited about the country's rapidly growing gambling market, especially online gambling. According to Olabimpe, the gambling industry in Nigeria will continue to grow, as are many other African countries.
Controversy over the regulation of online gambling
Despite the growth, the gaming industry in Nigeria has to face many obstacles. The most important of these is the regulatory system at the federal and state level.
The NLRC (National Lotteries Regulatory Commission) is in charge of controlling gambling at the federal level. However, some state agencies need to recognize licenses issued by the NLRC. The dispute between the state authorities and NLRC has been going on for a long time and has reached the Supreme Court of the country. The parties need help to reach a consensus on whether operators who have a federal license need to obtain a state license as well.
