The Nigerian sports betting industry has slowly but surely emerged as one of the most important in the country. This is partly due to the population’s devotion to Football, with English Premier League Clubs like Arsenal, Chelsea, and Manchester United enjoying a huge fanbase in this part of Africa. Read full report from PWC here.
Technology is Key
The rise in popularity has also been assisted by massive advances in technology, with more people now able to access smartphones and internet data becoming more affordable. This improvement in the infrastructure has seen Nigeria become the second-largest market for online sports betting on the continent, just behind South Africa. Nigeria reported gross gaming revenue of almost US$60 million in 2018 according to PwC. This report further predicted that the GGR will rise by 16% until 2023.
What the Future Holds
BtoBet, a company offering iGaming and Sportbook platform and services which operate independently, has released a report. Entitled Nigeria iGaming Focus: An Accelerated Shift Towards the Online, it reviews the future of the industry in Nigeria. The report calls attention to consumer preferences, market dynamics, and technological advances. It additionally examined factors like betting demographics, connection speeds, device usage, financial inclusion factors, internet and smartphone penetration, among other elements.
Nigeria iGaming Focus also includes insights into the market from Alessandro Pizzolotto, the co-founder and CEO of STM Gaming, African partner to BtoBet. He revealed how crucial the introduction of a localised wagering solution is and what the developing payments gateways framework for this continent looks like.
