Online gambling to grow in Nigeria

The largest African economy has a big opportunity to expand its online gambling market.

Nigeria.- The market in Nigeria is currently in the process of maturity and it could be leading the way for other nations in the region to follow its path. After hosting the African iGaming conference, Nigeria is seen as a leader in the regulation and legislation of the online gambling market across the African continent.

Nigeria saw the launch of its first online lottery and the opening of three casinos back in 2004, and in 2013 the first online casino was opened. When they first opened, casinos only featured Roulette games, and despite local laws restricting citizens to approved sites, they can access a wide range of international sports and casino operators.

It is estimated that the online gambling market could be worth US$37 billion, and the government thinks that implementing proper controls and regulation could be beneficial for the potential tax revenues from such a bis business.

Nigerian authorities believe that strong regulation of the market will attract more players to online gambling sites. The Lagos State Lottery Board stated that a new regulation could also reduce the risks of criminal behavior and corruption.