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Nigeria’s Gambling Growth Insider

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Without a doubt, when you hear about Nigeria, gambling is not the first thing that comes to your mind. Nevertheless, it appears that the country’s gambling industry is growing rapidly and it is estimated that in the next five years, Nigeria will become one of the fastest-growing African countries in terms of gambling.

 

Apparently, in Nigeria you can indulge on all kinds of betting, from the upcoming national lottery, through sports betting, to casino gambling, where you can play table games or you can choose between classic, video and progressive slots machines.

 

The multinational professional services firm PricewaterhouseCoopers (PwC) recently published a report titled “Gambling Outlook 2013-2017” and it did not focus on Nigeria exclusively, but also analyzed gambling data from South Africa and Kenya. The report features data from various gambling options in South Africa –  LMPs, sports betting, bingo, as well as the national lottery are taken into. Still, for Kenya and Nigeria, the report reveals statistics from casino gambling only.

 

As stated by PwC, Nigeria’s gross gambling revenues will increase by 16 per cent in the course of the next five years. What is more, Nigeria is to launch a nationwide lottery titled Quick Lotto, and former chairman of the Senate Committee on Capital Market Ayo Arise believes that the launch will generate employment and tax revenues.

 

Arise has collected data from various countries which have a national lottery and believes that for most countries the lottery is but a means to make the community more prosperous. In this respect, he states that Nigeria does not intend to behave differently. Arise  has stated that 20 percent of the profits from the lottery are distributed to the Federal Government which uses the money for good causes, “for the advancement and progress of this nation,” says Arise.

 

Fortunately, as we already said, Nigeria has other betting options and people do not need to wait for the lottery to launch in order to gamble. In fact, one of the most popular means of gambling here is sports betting.

 

Many betting companies have benefited from the football enthusiasm all across the continent, designing and deploying betting platforms every day. Fans can stake small bets and win big amounts of money, and this strategy makes sports bets incredibly popular among locals, both young and old.

 

As a matter of fact sports betting has become popular during the last decade. According to a KPMG report on Gambling in Africa, about 60 million Nigerians adults (18-40 years old) are into active sports betting. The common player would spend about 3,000 Naira (nearly $15) on sports betting. Proportionately, nearly 2 billion Naira is laid out on sports betting in Nigeria every day, which turns into nearly 730 billion Naira for a year. No wonder why betting shops can be spotted on almost every corner in Lagos and each day, new betting places set up shop.

 

The strategy of betting a small amount of money with the chance to score something big seems to be increasingly popular among young people. A poll revealed that Nigerians bet on football games every day not only because it is a way to make quick money, but also because it distracts people from high unemployment rates.

 

According to 2016 data, youth unemployment rates in Nigeria increased from 25 percent in the third quarter of the year to 25.20 percent in the fourth quarter of 2016. By comparison, the numbers averaged 19.20 percent between 2014 and 2016.

 

Nigeria has a good casino gambling business, too. What is more, the casino industry is expected to grow and turn into one of the continent’s largest casino industries in the following years. The bad thing about casino gambling in Nigeria is the fact that the system is largely unregulated and there are not enough licensed gambling venues.

 

The two gambling cities in Nigeria, i.e, the cities with a legal gambling facilities are Abuja and Lagos. Lagos is the largest gambling city in the country and it has 1 gambling facility, 10 table games, as well as 106 games, slots, and even video poker machines. However, games such as roulettes and coin flipping are prohibited in Nigeria.

 

Despite the fact that the physical casinos in Nigeria are but three, the on-line casino industry has shown rapid growth, ever since the first on-line casino was licensed in the country in 2013. Actually, gambling was banned across the country until 2004, but then the first officially sanctioned on-line lottery was launched (incidentally, that is also the time when the country’s casinos opened, too).

 

The year 2013 saw the establishment of the country’s first on-line casino. Initially, the casino featured only Roulette games. The market rapidly expanded and now Nigerians can access a wide range of international and sports casinos operators. Nevertheless, the country is still very strict on the topic and allows citizens to visit approved sites only.

 

Experts expect the on-line gambling industry in South Africa, Kenya and Nigeria to reach $37 billion this year and this has made the government to realise that the potential tax revenues from such an expansive business require proper regulation and should not be turned a blind eye on.

 

Nigerian authorities think that the strong regulation of the market will actually attract more people to on-line gambling sites and it will even help reduce corruption and criminal behaviour among the population.

 

Government has been trying to set new regulating laws and make gambling profitable for the country as early as 2014, but with little success. New licensing systems are needed, according to Lagos State Lottery Board, and FIFA’s Early Warning System believes that both operators and the government can benefit from one another, all they need to do is work hand in hand.

 

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To Make Money, Practice First

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We all hit rough patches at times. This is nothing to be ashamed of. Or, sometimes we are simply looking for a change in lifestyle or career. We all have different reasons to want to realign how we earn a living. But all of these things have something in common: practice makes perfect.

 

If you are looking for a new way to expand your income, it is best to try it out before taking any huge risks. Depending on the path you choose, you will have different options for how to practice. Here are some common ways to get started, perhaps, on a new path in life.

Esports and Online Games

The online gaming industry is growing by leaps and bounds. You can see in this the number of people logging on, and also in the sponsorships being awarded to different eSports teams.

 

Of course, it is everyone’s dream to make money playing video games. But, not everyone can do this. Before deciding to quit your day job and dedicate yourself to Counter Strike, it is best to try it out for a bit. At first, you might get frustrated but tick with it for a bit to see how it goes.

 

Another option here is to check out free casino slots. At this site, they have nearly 8000 free slots and casino games for you to play. These games are almost identical to the ones you can play for money. Right on that website, you can play using any device, desktop, smartphone or tablet. No download is necessary, either!

https://pixabay.com/es/photos/simulador-esports-sim-6380726/

Stock Market Simulators

The stock market is one of the most famous ways to get rich quick. But, of course, with great opportunity comes great risk. Plus, there is a lot to learn. Are stock options the best choice for you? Or, are you more of a blue chip investor.

 

You can really start to answer these questions only after you have practiced investing for a little while. There are lots of online stock simulators that can give you an idea if this is a viable path for you.

Free Online Courses

Free online courses are a catch-all for anything you are thinking about getting started on. This day in age, we are really blessed to have such access to incredible libraries of amazing courses at the tip of our fingers.

 

They are especially great for getting started and some practice in the arts. You can find great classes on everything from medieval embroidery to graphic design. You will not only get step-by-step instructions, but also inspiration and plenty of practice.

 

There are other ways online courses can contribute to your life’s education. There are a number of great sites offering free or cheap courses. You can learn anything from real estate management to coding.

 

If you have the time and the discipline to set aside an hour or two every or most days, then you will be able to see progress in no time. Many of these courses will also come with a community of students. Interacting with them can be great motivation to practice more, and an opportunity to give and receive feedback.

 

Ask Your Friends to Volunteer

Friends are an important resource as we look to expand our financial security. Community is one of the most valuable things we can have during smooth or rough waters. There are some things to keep in mind as we make the most of this resource.

 

The first, ironically, is not to think of them as just a resource. they are people who care for you, so of course they are willing to help out. But they will be even more eager to help out if you show them you care about them too.

 

You can do this by offering them something. Asking friends to volunteer could be a perfect match for practicing being a professor of yoga, for example. If you have taken lots of classes, but never been trained as a teacher, perhaps a few practice classes are all you need to get the wind beneath your wings.

 

Your friends will be happy for the free classes, and you will be getting your life on a new track. It is a perfect fit for all involved!

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Online Casinos in Nigeria Today

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The Growing Popularity of Online Casinos in Nigeria

When gambling crosses your mind, you probably think about Las Vegas, Macau, and other gambling capitals of the world. While the United States, Europe, and Asia are homes to highly developed gambling markets, Africa also offers great business opportunities to online gambling operators.

In Africa, gambling activities are outlawed in many countries, but in those African countries where gambling is legal, gambling activities are thriving. One of these countries in which licensed and regulated online casinos operate is Nigeria.

Gambling activities in Africa are also legal in Uganda, Kenya, Ghana, and South Africa. Before we take a look at the major factors contributing to the growing popularity of iGaming venues in the world’s second-largest continent, we briefly examine the history of gambling activities in Africa.

According to most historians, Egyptians enjoyed certain forms of gambling around 3000 BC. The oldest dice was also uncovered by archaeologists in Egypt.

History of Gambling

In North Africa, gambling activities have been outlawed and banned for many centuries, including those countries that follow and enforced Islamic laws. When it comes to sub-Saharan African countries, they have been more open towards gambling activities.

More specifically, different gambling activities, including betting were enjoyed by people of sub-Saharan Africa back in the seventeenth century. In sub-Saharan Africa, horse racing betting became very popular in the eighteenth century.

Around the same time, horse racing betting was very popular in South Africa after the country imported thoroughbred horses from China. When it comes to the history of gambling in Western Africa, gambling activities thrived back in the eighteenth and nineteenth centuries although most Western African countries were influenced by Islamic laws that strictly forbid all forms of gambling. People of Madagascar had also engaged in different gambling activities in the late eighteenth and nineteenth centuries.

Fast forward to 2021, South Africa is home to the most profitable gambling market on the continent. As previously mentioned, the history of gambling in South Africa dates back to horse racing betting that was popularized in the seventeenth century.

In the last twenty years, South Africa opened doors to numerous international gambling operators, so today South Africans get to enjoy gambling activities at online casinos, online sports betting sites, as well as land-based casinos, and retail sports betting sites.

In Western Africa, gambling activities are mostly outlawed, but Nigeria is more open to gambling. The country’s legislators are working towards tackling illegal gambling activities, but illegal casinos are still thriving in the country. Nigeria is home to several legally-operating land-based casinos, and the Palace Hotel and Casino located in Lagos is the biggest. Nigeria is also home to many reputable, renowned online casinos and you can find the best casino options here.

When it comes to other African countries with thriving gambling industries, Kenya is doubtlessly one of those countries. Kenya has the most lenient gambling laws and regulations of all African countries. In Kenya, gambling activities have been thriving for over five decades as gambling was legalized back in 1996 after Kenyan legislators passed the Betting Lotteries and Gaming Act. As previously mentioned, gambling activities are also legal in Ghana and Uganda.

Nigerian Gambling Laws and Regulations

In Nigeria, all forms of gambling activities are regulated and overseen by the National Lottery Regulatory Commission. The National Lottery Act enforced back in 2005 legalized lotteries and several other forms of gambling, including sports betting and land-based casino games.

According to the National Lottery Act 2005, only licensed and regulated online casinos can offer online slot machines. According to the same legal framework, non-skilled casino games are considered illegal.

Essentially, the National Lottery Act splits casino games into illegal and legal games, and legal games are sports betting, land-based casinos, and lotteries.

Speaking of online gambling activities, just like land-based casino activities, iGaming activities are also regulated by the Nigerian Lottery Commission. Gambling operators that want to offer their services to Nigerian residents must obtain licenses from the National Lottery Regulatory Commission.

Current Nigerian gambling laws and regulations do not specifically mention iGaming activities, so Nigerian players can join and play at foreign and local Nigerian gambling sites without any restrictions. While online gambling activities are not mentioned in the National Lottery Act 2005, online casinos operating in the country must follow all of the laws and regulations that land-based casinos follow.

The Growing Popularity of Online Casinos in Nigeria

As one of the most competitive African gambling markets, the popularity of online casinos in Nigeria has been on the rise in the last several years. One of the major factors contributing to the growing popularity of online casinos in Nigeria is most certainly the rise in the Internet penetration rate.

In 2017, around 43% percent of Nigerians used the Internet. One year later, the country’s Internet penetration rate stood at around 43.75%. According to this Statista report, the Internet penetration rate stood at around 46.59% in 2019 and around 49.14% in 2020.

With more Nigerians using the Internet, more are taking up activities like online gambling or Forex trading. Nigerians just like Kenyans, South Africans, and Ghanaians are huge fans of mobile gaming activities. Thanks to the rising adoption of mobile devices, the popularity of mobile casinos in Nigeria has been on the rise especially in the last several years. In the last several years, mobile devices have also become more affordable. This has led to a major rise in the total number of mobile connections in the country.

More specifically, the total number of mobile connections in the country increased by over seventeen million between January last year and January this year. As estimated at the beginning of this year, there were over 187 million mobile connections in the country.

This is a significant 10% increase when compared to the total number of mobile connections back in January 2020. When we add the increasing adoption of mobile devices and the rising number of active Internet users in Nigeria to lenient gambling laws and regulations, there is no wonder why the Nigerian iGaming industry has been on the rise.

 

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8 Crucial Things to Consider Before Playing Online Games

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By Gaurvi Sharma

Photo by RODNAE Productions from Pexels

Gaming is exceptionally engaging. Once you start playing a game, it’s not easy to leave it. It’s fun, creative, and entertaining. However, gaming can be frustrating, too, especially if you are considering online gaming.

Online gaming has become popular over recent years. The internet has made everything easily accessible to us, including millions of games. This also means you can play with anyone all over the internet. To have a unique online gaming experience, we will include five crucial things to consider before playing online in this post.

1.   Internet Speed

The most crucial factor for online gaming is internet speed. With a slow internet speed, your game will lag or won’t start at all. To avoid frustration, make sure you are connected with a fast internet connection.

2.   Equipment

There are not so many things that you need to play online games. It depends on the game that you are playing, but you might need these items:

  • Desktop or Mobile Phone or laptop
  • Keyboard
  • Mouse
  • Controller

Make sure you fulfil the hardware requirements to play the games hassle-free.

3.   Comfort

When you start playing your favorite online game, the hours will pass like seconds, and you won’t even notice. It’s essential to be comfortable during your playtime, so you don’t have to face any problems later. Most importantly, have a good quality headset. As you might wear the headset for hours, it should not hurt you. Invest in a headset that is made from suitable quality materials. Keep a water bottle nearby, so you don’t get dehydrated.

4.   Security

If you are playing on a PC, keep your antivirus up to date. If your antivirus gives a virus alert, take it seriously. Online gaming increases the risk of getting a virus on your PC. Use a strong password with numbers, alphabet, and characters. Don’t tolerate any abuse. Players can get competitive and can abuse or bully others. Use the reporting procedure, and don’t tolerate such behavior.

5.   Age Restrictions

Some games have gameplay or visuals that are not appropriate for every age. Check the age restrictions and health requirements before playing a game. Few games are not suitable for heart patients due to the visuals, so if you are a heart patient, it can be harmful to you. Read the guidelines, rules, terms and conditions properly before starting any game.

6.   Gameplay

Read and learn about the gameplay before you pay a fee or purchase the game. Often the game is not what you expected it to be. You can read about the game on different websites, or you can watch videos on YouTube. The experience will be slightly different from what you will read about. But it will still be closer to it.

7.   Set Time Limits

Gaming can be very addictive. You may think you will play for just an hour, but it can turn to 5 hours in no time. Gaming addiction is a widespread problem among adults, so set time limits if you wish to prevent yourself. Set a time limit that is suitable for you. You can extend the time limit on the weekends. Crossing the set time limit might disrupt your productivity.

8.   Ratings and Reviews

Luckily, there are ratings and reviews of almost everything on the internet. Many users provide reviews of the games online, and even the gaming experts offer online reviews of the games. You can even find reviews of instant payout casinos in South Africa online. There is a team of experts who handpicked a selection of the best instant withdrawal casinos. The website covers everything you need to know about fast and safe gambling in South Africa. Many other websites can inform you about the reviews of all the online games.

If you are among those who don’t like to read much, you can watch review videos online. Reviews and ratings will make sure you play a safe and fun game.

Online gaming is one of the most entertaining things to do in your free time. Many people have even made full-fledged careers out of gaming online. As we are busy and tired most of the time, online gaming is a great way to relax. Keep the points mentioned above in mind to have a wholesome online gaming experience. Make sure you read the rating and reviews of the games so you don’t get disappointed later.

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