When gambling in Nigeria you will notice that it is considered to be both legal and illegal, all depending on the state and which games you decide to play. This uncertainty all leads to a lack of regulations which results in no available support for gamblers. All sites operating in Nigeria much have a license from the NGC which is the Nigerian Gambling Commission. However, most sites are obtaining their licenses from Europe such as the UKGC and MGA.
A serious health problem for Nigerians is at an increase, especially due to lack of regulation, economic deprivation and the lack of support when it comes to gambling addiction. The Nigerian Government should definitely look into adapting to UK gambling practices.
The NGC should invest in a service that allows the players to place restrictions on their own activities such as self-exclusion for days, months or years. When the period comes to an end, they will be allowed access again to those sites licensed with Nigerian Authority. An example of such a service is GamStop. If such a service is implemented in the Nigerian gambling market, it would help players to break any negative habits.
In Nigeria, the most common form of gambling is betting, especially when it comes to sports. More than 65 million Nigerians aged between 18 and 40 bets on their favorite sport. This is why when you look at an online casino site, you will also find sportsbooks available. Since it is very popular and will continue to gain popularity in the future, problem gambling will increase simultaneously.
Vulnerable players include those players who are underage and those who do not simply gamble for fun. You will find some people who priorities it above important activities. Since no regulation is in place, any debts or complaints are not reported and therefore, will never be solved. This is why such service is important to offer to prevent unhealthy patterns and unwanted debts from taking place.
You might think that such a service will decrease the revenue of a casino site since it will stop and control players from depositing more and more. However, licensed casinos can be fined by the Nigerian Commission who fail to fulfil such obligation. In return, this can increase funds to NGC who presently depend solely on the registration fees and taxes imposed on lottery operators.
Should service be implemented it would obviously take a number of years to see the positive change, however, it would surely be of benefit for both operators and gamblers’ health. Nonetheless, the future looks very bright for the gambling industry in Nigeria, as well as the betting world that is becoming increasingly popular as time goes by. It was also published that Nigeria will become the place where the headquarters for the African gambling industry will be located.
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