Top 5 Reasons for The Rise and Rise of Sports Betting in Nigeria

Top 5 Reasons for The Rise and Rise of Sports Betting in Nigeria
Photo by Thomas Serer

Nigerian is home to the largest contingent of betting sites in Africa. For a long time, the culture of betting has been prevalent in the West African nation, but not as high as it is today.

There is an increased usage of mobile phones and internet access across the country, which accounts for much of the betting rise. The number of foreign and local betting companies also keeps rising, with competition for new users resulting in high player bonuses, among other incentives.

Top 5 Reasons for The Rise and Rise of Sports Betting in Nigeria

Other factors contribute to the new wave of betting in Africa’s most populous state.

#1. Growing number of betting sites

Nigeria has witnessed an influx in the number of betting sites operating in the country. While the state licenses some, there are reports of unscrupulous dealers who are out to milk unsuspecting bettors dry.

The involvement of top brands like Betway is streamlining the industry by setting standards and giving Nigerians new hope amid rising numbers of betting sites. The vice could be blamed entirely on relaxed government regulations across the industry.

#2. Betting Bonuses

One of the surest ways of enticing new users is through offering bonuses. Betting sites operating in Nigeria are using bonuses as bait to lure high numbers of prospects, which is playing a massive role in growing the industry. There are joining bonuses given to new users, sometimes up to 100 percent of your first deposit sum.

Other bonuses may include the number of picks won or daily bonuses on every first deposit. Also, there are continuous promotions attached to specific markets, giving users more freedom and betting power to increase their profit potential.

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#3. Unemployment

Nigeria is by far the most populous country in Africa, and the bad news is that more than 80 percent of youths above 18 are unemployed, despite being educated. The high unemployment levels mean that most of these youths resort to all sorts of daily hustles to eke out a living.

Responsible betting is seen as a rewarding venture, and the entry of Betway and other market players looks to have taken betting to another level.

#4. Mobile betting

The number of people owning or having access to smartphones is rapidly increasing. Chinese phone manufacturers are making a kill developing mid-level gadgets for third-world countries, and Nigeria is one of the beneficiaries.

On their part, betting companies continue to develop mobile-friendly betting apps for ease of use with smartphones. That means you can bet from anywhere, provided you have an internet-enabled gadget.

#5. Availability of internet

The growth of the betting and casino industries is mainly attributed to the advent of the internet. Where initially punters would converge in land-based casinos to place wagers, online betting has opened the way for new opportunities.

The distribution of internet supply even to the remotest of areas in Nigeria has played a considerable role in the rise of betting. More people can easily access betting sites and earn from betting.

Other significant factors like the launch of mobile banking options across multiple networks have also allowed betting companies to appeal to more users. For example, Betway allows you to deposit or withdraw winnings straight to your mobile wallet.