Did you know that Nigeria tops the charts in Africa’s gambling industry? Over the past couple of years, the i-gambling industry has been experiencing steady growth. The sector is a force to reckon with as the boom will make the industry dominate in the market.
Like in other parts of the world, online gambling has positively impacted Nigeria’s economy. We are talking about increased overall revenues in the country, creating a ripple effect of high purchasing power of participants. In 2018, PricewaterhouseCoopers reported total gambling revenues of $58 million in Nigeria.
This means that a significant portion of Nigeria’s population spends millions per day gambling.
Is online gambling legal in Nigeria?
One of the things that have really contributed to the wide acceptance and the contribution of the online gambling industry to Nigeria’s economy is that one cannot be prosecuted for it. Online betting on platforms like EasyBet Casino is legal. More so, it is regulated by several bodies and agencies in the country.
The National Lottery Regulatory Commission is one of the agencies that regulate sports betting sites in the country. Before the operations of online gambling platforms are approved, they must undergo a stringent assessment to ensure that they are financially stable and capable, they are secure, and reliable.
Restrictions to online gambling
The fact that there are regulations designed for online betting platforms means that some restrictions exist.
- Age restrictions
There are age restrictions to the persons registering on these platforms. The age limit for traditional venue casinos is 20 years, while on online gambling platforms, the age limit is 18.
Why are there controls on the access of minors to gambling platforms? For one, it is easier for them to get addicted to gambling compared to adults. The dangers of gambling addiction are obvious and detrimental. We are talking about conditions such as psychological disorders and stress.
These restrictions are there to protect minors. For instance, the fact that they don’t understand finances and money.
Gambling options available in the country
It is worth noting that only a small part of the gambling industry in Nigeria is regulated by the government. However, the lack of federal control does not mean it is illegal. Here are some of the online gambling options available in Nigeria.
- Sports betting
This is the only form of online gambling that has been acknowledged and made legal by the government. This also makes this type of betting subject to taxes.
The fact that it is legalized by the government makes this section of the industry taxable. Taxes are imposed on both operators and participants through their winnings. There are tons of sports betting sites in Nigeria that offer millions of gamblers the opportunity to do what they love most. Soccer and cricket betting are among the options available.
- Slots
Slots are among the most popular online casino games not only in Nigeria but also globally. There is a wide range of slots with a variety of themes. The quality of gameplay and sound for this category of games is also impeccable, something that has also contributed to its popularity.
There are thousands of slot casino games accessible to Nigerians, with amazing prizes. Online gambling is attracting new players everyday, and slots give them good entry into the online gambling world. The game is good for beginners as it does not require experience, and it is also simple.
- Lotteries
This is yet another online casino game option available for players in the country. There are hundreds of different lotteries in Nigeria with amazing potential prizes. This is one of the most popular online games in the country, and that is thanks to the fact that it gives the players an opportunity to win life-changing sums.
Playing the game is also very simple as all the players need to do is buy the tickets.
- Blackjack
Just like the other games available in online casinos in Nigeria, blackjack’s popularity can be credited to its simplicity. Some people are even playing the game for a living. It is one of the oldest games available online, which is based on both skill and luck.
The game also offers a wide range of choices, especially when it comes to rules giving the players many gaming options.
How to stay safe while gambling online
The lack of regulation for online casinos in Nigeria comes with the advantage of not paying taxes for your wins. While this may be a good thing for the players, the lack of regulation has a downside too. There is a threat to the safety of the players. They are not protected and are very likely to become victims of scammers.
Players are also left vulnerable to unfair practices of online casino operators. So how do you remain safe in such an unregulated space?
Choosing a safe username will go a long way. Ensure that your nickname or something that can give hackers a lead to your passwords is not used. Avoid loot boxes, mods, and downloads as they are usually unsafe.
Conclusion
Online gambling can is convenient and affordable. If you, do it the right way. Some people make a living out of online gambling. The industry is big and will only continue to grow in the coming years. It is also important to prioritize your security when you are gambling online.
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