The online gambling industry in Nigeria has experienced a massive surge in the last decade, and it is showing no signs of slowing down.
Nigeria currently has the second largest online gambling market in Africa, behind South Africa, but projections are that the west African nation will rise to the top in the next few years.
In fact, industry experts at the recently held SBC Digital Summit Africa voted Nigeria as the African country with the biggest potential for online betting and gaming operators.
So you can expect even more betting companies to set up shop in the country in the coming years!
The meteoric growth of online betting in Nigeria can be attributed to several factors. There is the large youth population, as well as the poor economic situation, but the biggest contributor has arguably been the technological growth in the country.
We look at five areas where technology has boosted online betting in Nigeria
Well, before you can bet online, you need to get on the internet. Long gone are the days when internet connection was a luxury in Nigeria. It has become very accessible and affordable, a basic necessity.
Over 100 million are connected to the internet, and that number is expected to cross the 150 million mark in the next five years. This has had a very direct effect on online sports betting, as millions of people can easily get online and place their bets.
The mobile penetration in Nigeria is growing rapidly by the day, with estimates putting the number of smartphone users in the country at between 25 – 40 million.
In a report released by the Nigeria Communications Commission in January 2020, the total number of GSM subscriptions in the country had reached 185.74 million.
Once upon a time, sports betting in Nigeria was largely done in physical betting shops, but these days, most bettors now wager on their mobile phones.
Easy deposit methods
Another way technology has helped sports betting in Nigeria is by creating easy and seamless deposit and withdrawal methods.
Paying into a betting site has become extremely easy. Once you have your bank account and your ATM Card, you are good to go.
The best betting sites in Nigeria allow numerous payment methods, including deposits via online bank transfer and popular e-Wallets like Quickteller and OPay.
The rise of social media has played a big role in the growth of online sports betting in Nigeria. Betting sites like bet9ja are now in your face on the various social media platforms, and are able to sell their products to Nigeria’s youth population.
Also on the increase are online betting tipsters, who regularly throw around betting predictions on social media, and convince readers and followers to create betting accounts and start betting.
It is very easy to get drawn into online sports betting on social media.
Improved user interface
Online gaming or betting sites are now taking advantage of the ever-improving technology at their disposal to create and design more aesthetic platforms, and improve the overall gaming experience.
Hence, when people visit these sites, they are captivated by the adventure, and will most likely return to have more of it!
With technology set to keep improving in Nigeria, the online betting numbers are headed in one direction.