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How Sports Betting Has Changed Over the Last Few Decades in Nigeria

  Sports betting is not a new activity in Nigeria. It has long been prevalent in the country, however, there has been a surge in sports bett...

 


Sports betting is not a new activity in Nigeria. It has long been prevalent in the country, however, there has been a surge in sports betting over the past decade with an estimate of about 30% of the Nigerian population placing bets on sports daily.

So how has Nigeria betting changed over the last few decades?

Today Nigeria is known to have the second largest sports betting market in Africa, next to South Africa.  The advancement in technology and easy access to the internet has led to a massive surge in the sports betting market. Apart from that, the high rate of unemployment and easy payment methods have also attracted many into this activity.

1.      Technology Advancement

Over the past few decades, the availability of mobile phones also increased tremendously and it was even easier to access the internet through it. This opened up a platform where people could easily participate in sports betting.

The sports betting companies also took this to their advantage and started creating sports betting apps to make it even easier for people to indulge. These apps were initially banned in Google Play Store but now even Google has changed its terms and conditions regarding these apps.

A wide variety of sports betting apps are now available both on Android and Apple devices. It has never been easier for Nigerians to access these apps, leading to a massive increase in sports betting.

2.      Innovative Ideas by Sports Betting Companies

The fervency with which the sports betting companies bring forth new ideas and innovations to instill excitement and meet the demands of the market also pushes this industry forward. Currently, Nigeria’s best online sports betting sites are Betway and 22Bet.

3.      Economy

The economy is another major factor that has led to the increase in sports betting in Nigeria. The high rate of poverty and increasing unemployment compelled a large majority, especially the youth, to turn towards betting as a means of livelihood and not just a pastime.

Despite huge losses, people generally do not quit but instead spend more on re-betting in order to curb the losses they had. They like to believe that one big win will make up for all the losses they had.

While money-making may be a primary objective for the lot, there is also a large majority that indulges in sports betting for fun and entertainment. They enjoy the thrill and excitement that comes with it and bet with very high stakes.

4.      Easy Payment Systems

The effortless payment systems available these days made it a lot easier for people to deposit money into betting accounts. It only takes a few steps to fund the amount using bank cards, payment gateways like Quickteller, and internet banking. The country also has many bookmaker outlets scattered in almost every neighborhood for depositing money.

5.      Liberal Mindset

In the past, sports betting was considered immoral by the people at large, but over the past few decades, that view has changed rapidly. The growing population of young people and their exposure to social media inculcated a more liberal mindset. Sports betting has now been accepted by the majority and is no longer done in hiding.

Sports betting has laid down its roots in Nigeria and does not seem to be showing any signs of slowing down. International betting companies have also taken notice of the capacity of the sports betting market in Nigeria and have launched several betting sites.

The betting companies continue to bring new and exciting features making sure to keep their customers and also add new players on board.


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