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Nigeria Expects Online Gambling Growth

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Nigeria has an estimated population of around 187 million. It’s considered as having the largest economy in the South Africa. There is great potential for gambling to flourish and grow in the region.

The first iGaming summit has held in Lagos. The summit has presented that Nigeria’s market is ripe for the gambling companies to cover. International gambling operators are enticed to establish their presence which will create another gambling go-to destination in South Africa.

Online Gambling Legalization is Underway

Nigerian authorities have emphasizes that a strict regulation of the gambling market will results into more gambling revenues. An appropriate set of regulations will entice players to wager on online gambling portals. These regulations will also help reduce gambling fraud and corruption. The World Regulatory Briefing Africa summit this year has which paved the way for further assessment of regulations.

The Lagos State Lottery Board has recently outlined how they were able to establish an apt and comprehensive licensing system. The good news would be that government authorities and gambling operators will collaborate to implement regulations.

What’s Next for Nigeria’s Gambling Industry?

The first officially approved online lottery and new casinos were launched in Lagos in 2004. The used to be a nationwide gambling ban before the online lottery was launched. The first online casino was launched in 2013 which offered Poker, Roulette, and slot games. Local gambling laws used to be stricter, but players can now access sports betting and casino websites.

iGaming Summit Paves the Way for Growth

The iGaming Summit has enticed gambling operators and regulators in order to establish regulations. It was a great meeting of minds as officials traded insights in order to pave the way for more growth in Nigeria’s thriving gambling industry. It’s a brand new day in South Africa as Nigeria becomes it latest go-destination. Nigeria should not only be promoted as a gambling destination because it has great potential for tourism as well.