Unlike online sports bets, Online casino platforms are not allowed to be legally operated in Nigeria. However, local punters still have access to lots of online casino games because they are not prohibited from visiting foreign online casinos. In this article, you will know the difference between Nigeria’s online gambling ecosystem and other advanced countries.
The following are factors used in comparing Nigeria’s online gambling ecosystem with other advanced countries:
- Online gambling regulations structure
- Tax revenues
- Gambling addiction control
1. Online Gambling Regulations Structure
In Nigeria, online games that require skills and strategies are made legal while games of chance like roulette are not and can not be accessed. However, to gain access to their favorite games of chance, local Nigerian punters visit illegally operated gambling locations. The Nigerian gambling regulations are structured to reduce and control gambling addiction in the country. However, that has only increased the number of illegal gambling arenas and illegal gamblers.
In Ireland on the other hand, every form of online gambling is legal provided that local punters gamble on legal platforms. Therefore, punters can have access to their favorite games of chance at every online casino Ireland has to offer. Note that, a gambling platform is considered legal in Ireland if its operator has a valid license from the Irish gambling commission.
2. Tax Revenues
The population of local punters in Nigeria is quite large and that makes the income of the online gambling platforms they visit large as well. However, the Nigerian government misses out on the tax revenue that could be generated from the operations of foreign and local online casinos. This is because other than online lotteries and online sports bets, online casinos are not legal in the country.
In comparison, the United Kingdom has a lesser population of local punters compared to Nigeria. However, it has one of the strongest online gambling ecosystems in the world. Every form of online gambling is completely legal in the UK. Their operations are well monitored and their taxes are being calculated according to their income. As a result of that, the country benefits from its operations.
3. Gambling Addiction Control
The Nigerian government tries to control gambling addiction in punters by making online gambling illegal. However, that has only increased the rate of gambling addiction in the country. However, advanced countries like the USA allow online gambling but the authorized online gambling platforms operate with staking limits to control addiction.
Additionally, as a result of their properly structured online gambling ecosystem, the USA has special programs for individuals with gambling addiction problems. They organize these rehabilitation programs for punters using funds acquired from gambling tax revenues. Therefore, gambling addiction can be controlled by legalizing the operations of online casinos.
Conclusion
Unlike other advanced countries, online casinos are not legally operated in Nigeria. Legalizing their operations will reduce the number of illegally operated casinos and help control gambling addiction.
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