Gibraltar – BtoBet’s latest industry report highlights Nigeria’s online potentialBy Lewis - 18 September 2020
BtoBet’s industry report, ‘Nigeria Betting Focus’, focuses on the future of the local industry, highlighting the market’s dynamics, consumer preferences, and technological improvements. The report also analyses smartphone and internet penetration, internet connection speeds, device usage, financial inclusion factors, betting demographics amongst other market elements.
Nigeria Betting Focus includes market insights from STM Gaming’s Alessandro Pizzolotto, BtoBet’s Certified Partner for Africa, regarding the importance for a localised betting solution, and the evolving payments gateways scenario in Africa.
The report explains how sports betting has slowly emerged as an important industry in Nigeria, leveraging the population’s huge football culture, with some of the big football leagues, such as the English Premier league, and the Spanish La Liga, having millions of fans in the country. Nigerians are passionate about their sports, especially football, and this has been translated into a keen interest in sports betting.
The rise in sports betting has also been aided by improving technology, with many Nigerians now having access to mobile phones and affordable internet. In fact the ameliorating infrastructure has led Nigeria to become the second largest online gambling market in Africa, behind South Africa, with a Gross Gaming Revenue of US$58m in 2018, according to a report by top accounting and auditing firm, PwC. The report projects that the GGR will rise by 16 per cent over a five-year period.