Nigeria’s betting industry is now worth N600 billion, with about 60 million Nigerians, primarily youth, engaging daily in sports betting despite economic challenges.
The rise is attributed to internet access and mobile technology, which has transformed betting from traditional methods to primarily online platforms.
Mobile and fintech innovations like Flutterwave facilitate secure payments, expanding the industry’s reach.
Experts forecast growth to N800 billion by 2025, though challenges remain, including illegal platforms and concerns over addiction.
“With 60 million Nigerians actively participating in gambling daily, the nation’s betting industry has become a powerhouse, contributing a staggering N600 billion to the economy.
This rapid growth underscores the widespread popularity of sports betting and other forms of online gambling in Nigeria, positioning the country as a key player in Africa’s gaming market”, notes Online-casinos.com Nigeria, a trusted authority on global online gambling trends.
