Exploring Nigerian Sports Gaming Industry

Image

Ever since the start of PwC last April 2016, the gaming industry in Nigeria changed over the last few years. Since then, the gaming industry and every sector that came with it has expanded thanks to a huge population of youngsters. With that they are considered as key to the improvement of internet infiltration and greater access to devices that can support internet.

Likewise, the betting industry, especially in sports, is gradually proving itself to be a lucrative sector that leverages the large demand of football in Nigeria and its culture.

There are a number of huge leagues – for instance, the Spanish La Liga and the English Premier league – which garners a million fans within the country. With that, the practice of betting has given Nigerians different opportunities to earn money and, at the same time, do what they love to do.

Even though the momentary dip with regards to the economy and its accompanying activities back in 2016, there are still expected growth. Said growth is projected to be positive despite the rebounds in the economy and the stabilization of individual income.

On the other hand, it’s also expected that the customer base is getting bigger because a large population of youth are contributing to the rise of gaming industry in Nigeria. Aside from the kids, middle-class Nigerians are also breaking the stereotype that only those who have money can become invested in the gaming industry.

In fact, the statistics are showing that the people in lower-income bracket are also contributing to the numbers seen in the gaming industry charts.

Many companies are now targeting Nigerians since people of different ages are getting attracted by the concepts of gaming and other factors that come with it.

Moreover, the statistics being shown are not only supported by numbers but also by the improved trends in mobile penetration. The surge in numbers when it comes to users are also attributed to gaming websites like Betway. A sports betting website like Betway gives the users the opportunity to bet on their favorite teams anytime, anywhere. With that, the flexibility that Betway have to offer are largely contributing to the people who are continuously immersing themselves in the gaming industry.

As per the data gathered by the Nigerian Communications Commission (NCC), it suggests that there’s around 50% increase from the previously recorded 36% within the last three years. This recorded increase corresponds to the greater awareness brought by vigorous expansion and marketing initiated by the operators.

Furthermore, there are enhancement in the field of technology to aid in different payment options by various internet platforms. To a certain level, the desire for extra income in the middle of the latest economic dip has left a significant amount of youths without jobs or scouring for measly-paying jobs. But on a brighter side, they helped in boosting the population of gamers, particularly in the industry of sports betting and lotteries.

Another data obtained by a football betting publication in Nigeria back in 2015 has told that a majority of Nigerian bets are placed via betting stores and the other increasing number are traced via online betting. This goes to show that the technology is keeping up with traditional betting practices.

Share
Related Stories
Image
01-September-2023

Betpack Unveiled in South Africa: Get Ready for Next-Level Betting Adventures!

The world of online betting is about to take a thrilling turn in South Africa as Betpack, the highly anticipated affiliate platform, makes its grand debut. With its cutting-edge features and user-friendly interface, Betpack promises to redefine the betting experience for enthusiasts across the nation. Get ready to embark on a journey of next-level betting adventures that will change the way you engage with your favorite sports and games. About Betpack  Betpack stands as a beacon of innovation in the realm of online betting, poised to captivate the imaginations of South African bettors like never before. But it’s more than

Image
27-September-2023

Osimhen Snubs Teammates After Napoli TikTok Video

By Bliss Okperan Nigerian goal-poacher, who plies his football trade in Italy, Victor Osimhen, has expressed his frustration over the way his club, Napoli, treated his penalty miss over the weekend. The Italian club won a penalty in a match with Bologna on Sunday, but the striker could not put the ball in the back of the net, leaving his team with a goalless draw. On Tuesday, Napoli posted a video on its verified TikTok page. It was believed that the post was to mock the miss, sparking outrage from some fans, especially from Nigeria, the footballer’s home country. On

Image
29-September-2023

Scoring Success: How Data Analytics Revolutionizes Football Predictions Strategies

Data analytics is transforming football predictions as tools and techniques are consistently being designed to enhance accuracy and precision in football betting. In this article, we uncover the huge impact of data analytics in football betting. The Power of Data in Football Predictions In football betting, data analytics is used to collect, analyse, and interpret data to make informed predictions. This includes several metrics, such as player stats, team performance, head-to-head results, and external factors like injuries, fatigue, and weather conditions. Data analytics in football predictions is useful in the following ways:  Transforming Raw Data to Useful Piece of Information

More Stories
Image
06-November-2022

Omar Farouk Reelected APPO Secretary General 

By Adedapo Adesanya The African Petroleum Producers Organisation (APPO) has reappointed Mr Omar Farouk Ibrahim as its Secretary General during the APPO Ministerial Council Session held in Luanda, Angola. It has been considered a move that will usher in a new era of growth across the continent’s hydrocarbon industry. With Mr Farouk bullish around the development and exploitation of Africa’s vast, untapped oil and gas resources to address growing energy poverty and drive socioeconomic developments since his first appointment as the Secretary General of APPO in January 2020, his reappointment has been touted as good news for the African continent

Image
01-August-2019

MTN to Convert Recharge Card Sellers to Financial Services Agents

By Dipo Olowookere The management of MTN Nigeria Communications Plc has confirmed securing an approval from the Central Bank of Nigeria (CBN) to offer financial services to millions of residents of the country. A statement signed by its scribe, Uto Ukpanah, on Wednesday, July 31, 2019, said the licence was obtained by its subsidiary, Yello Digital Financial Services limited (YDFS), so as to deepen financial inclusion in Nigeria. According to the statement, the telco will engage the services of its airtime dealers spread across the country to offer the financial services to consumers, while others would be recruited as agents.

Image
11-September-2023

NASD OTC Securities Exchange Grows 0.61% in Week 36

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange appreciated in Week 36 by 0.61 per cent after the share prices of five companies compressed the losses posted by four firms on the alternative stock exchange. This pushed the market capitalisation of the bourse higher by N10 billion to N1.12 trillion from the N1.11 trillion achieved in Week 35, as the NASD Unlisted Securities Index (NSI) increased by 4.82 points to 796.04 from 791.22 points. Industrial and General Insurance (IGI) Plc increased by 16.7 per cent to close at 21 Kobo per unit compared with last week’s 13 Kobo per

Image
20-June-2017

BREAKING: Access Bank, Others Take Over Etisalat Nigeria

By Dipo Olowookere Operations of Etisalat Nigeria have been taken by a consortium of banks led by Access Bank Plc over $1.72 billion loan (about N541 billion) the telecom company collected for expansion few years ago. In recent times, the fourth largest GSM service provider in Nigeria had been in discussions with the lenders on how to renegotiate a repayment of the loans it collected from the banks. It was gathered that talks by Chairman of the firm, Mr Hakeem Bello-Osagie, to reach agreement with the banks on the debt restructuring plan failed. Mr Bello-Osagie is the promoter of Emerging

Image
10-October-2016

FG Backs Investment In Renewable Energy

By Modupe Gbadeyanka Minister of Environment, Mrs Amina Mohammed has disclosed that the federal government was developing a Jatropha value chain for renewable energy as part of plans to diversify the country’s economy. According to her, the Jatropha, as a renewable energy resource, would reduce desertification, alleviate poverty and fast-track sustainable development. She expressed believe that the Jatropha plant would serve as a viable green alternative to fossil fuels and provide an additional means of livelihood for local communities. However, she urged the private sector to get involved in government’s effort to diversify the nation’s economy. The Nigerian bio-fuel policy

Image
11-January-2017

Group Seeks Quick Passage of 2017 Budget

By Modupe Gbadeyanka A group has urged members of the National Assembly to speedily consider and pass the 2017 budget since it is targeted at the improvement of the welfare of Nigerians and the economic growth of the nation. The body, Buhari Media Support Group (BMSG) advised the lawmakers to be sensitive to the aspirations of Nigerians by urgently passing the 2017 appropriation bill into law. Its Chairman, Mr Muhammed Labbo, noted that the change mantra of the President Muhammadu Buhari’s administration will be achieved with the implementation of the 2017 budget. He appealed to the lawmakers to be more

Image
30-June-2018

Low Interest Rate Could Lead to Inflation—CBN

By Dipo Olowookere Though some have called for the lowering of the nation’s benchmark interest rate presently at 14 percent, others feel making such move at the moment could be counter-productive. One of such people is the Director in charge of Policy at the Central Bank of Nigeria (CBN), Mr Moses Tule, who is of the view that a lower interest rate could bring about inflation crisis in the country. Nigeria went into a recession in the second quarter of 2016 as a result of very low price of crude oil at the international market. The commodity remains Nigeria’s major

Image
14-September-2022

FG Seeks Stakeholders Partnership in Power Sector

By Adedapo Adesanya The federal government through the Federal Ministry of Power has endorsed Nigeria Energy Exhibition and Conference as it seeks to facilitate partnerships among key stakeholders in the power sector. The Nigeria Energy Exhibition and Conference, which is the region’s biggest gathering of energy professionals, and features world-renowned and innovative power companies, will be making a long-awaited in-person return to Landmark Center in Lagos, from September 20 -22, 2022. The Minister of Power, Mr Abubakar Aliyu, confirmed in a letter that he will be at the event to present the keynote opening address. “I write to commend your

Ad
Ad
Recent Stories
Image
01-October-2023

Boosting Website Performance: Tips for Speed and Efficiency

By Rahul Baitha In today’s digital age, where instant gratification is the norm, website performance plays a critical role in delivering a positive user experience. Visitors expect websites to load quickly and respond seamlessly to their interactions. If your website lags or stumbles, you risk losing valuable traffic and potential customers. As a web designer or business owner, optimizing your website’s performance should be a top priority. In this comprehensive guide, we’ll explore essential tips and techniques to boost your website’s speed and efficiency. Understanding Website Performance Before diving into optimization strategies, it’s essential to grasp the fundamentals of website

Image
01-October-2023

NDLEA Nabs Suspected Kingpin in UK Drug Export Bust

By Adedapo Adesanya The National Drug Law Enforcement Agency (NDLEA) has arrested a suspect wanted for attempts to ship illicit drug consignments to the United Kingdom. This was made known in a statement signed by the NDLEA spokesman, Mr Femi Babafemi, on Sunday. He further disclosed arrests made by NDLEA operatives through interdiction operations that led to the seizure of four tons of illicit substances in the past week. According to the agency, the suspect, Mr Obiorah Chigozie, had been on its wanted list since September 15. This, he said, was when a consignment of 1.500kg skunk concealed in flour

Image
01-October-2023

BUA Cement Slashes Ex-Factory Prices to N3,500

By Aduragbemi Omiyale The management of BUA Cement Plc has announced a reduction in the prices of its cement from its factory without the transportation costs to N3,500 per bag (50kg). The cement maker confirmed this development in a statement issued on Sunday, noting that it was part of efforts to make sure customers get the products at cheaper prices. In the statement, BUA Cement disclosed that the slash in cement prices is from Monday, October 2, 2023, urging its distributors not to fleet the end users. The firm said, “All pending, undelivered orders which had been paid for at

Image
01-October-2023

NITDA Opens Applications for Tech Accelerator Fellowship

By Adedapo Adesanya The federal government through the National Information Technology Development Agency (NITDA) has opened applications for a tech startup accelerator fellowship program to empower Nigerians with innovative ideas. The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, said the preparations for the training commenced in August with a meeting of stakeholders in tech to co-create innovative ways to achieve the target. He added that the meeting was the first in a series of ecosystem engagements to ensure that the government gets the best solutions from within. The new initiative from the NITDA is part of the

Image
01-October-2023

Nigeria @ 63: Tinubu Promises Relief in First Independence Broadcast

By Adedapo Adesanya The President of Nigeria, Mr Bola Tinubu, has promised relief amid reforms that have increased hardships among Nigerians in his first Independence Day broadcast on Sunday. Nigeria is marking her 63rd Independence anniversary. Speaking during a brief broadcast, President Tinubu said his reforms, including fuel subsidy removal and unification of exchange rates, have come with some effects, which he admitted were painful but are needed. He announced that small businesses would get much support while an additional N25,000 would be given to low-income earners for six months to cushion the hardship. Mr also promised housecleaning at the

Image
30-September-2023

Mediacraft Associates Employees Get 25% Pay Rise

By Modupe Gbadeyanka The salaries of employees of Mediacraft Associates Limited, a leading Nigerian full-service Public Relations and Integrated Brand Communications Consultancy firm, have been increased by 15 and 25 per cent. This was confirmed by a statement from the organisation as it celebrates its 20th anniversary this year. It was disclosed that the gesture was to reward the efforts of the workers toward the growth of the company and to cushion the current hardships in the country due to the removal of petroleum subsidy. According to the chief executive of Mediacraft Associates, Mr John Ehiguese, the salary increase had

Image
30-September-2023

Are Audio Streaming Platforms in Your Marketing Mix? They Should be

By Mark Redguard Walk down the streets of any major city around the world and take a look at all the people you pass along the way. Chances are you’ll see more people wearing earphones and headphones, in all of their shapes and sizes, than not. Most of those people, whether they’re consuming music or podcasts, will be listening through an audio streaming platform. In fact, Spotify’s 500 million-plus users spent more than 132 billion hours streaming audio on the platform in 2022.  And that’s just Spotify. Factor in other platforms, including the likes of Mdundo and Audiomack, and the

Image
30-September-2023

Unlisted Stock Investors Grow Market to N1.105trn

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.38 per cent on Friday, September 30, with N4.16 billion added to the value of the bourse, closing at N1.105 trillion compared with Thursday’s value of N1.101 trillion. The market witnessed the improvement a day after the shares of VFD Group were yanked off the trading platform, with the NASD Unlisted Securities Index (NSI) closing higher by 3.06 points to settle at 815.65 basis points versus the previous day’s 812.59 basis points. There were three gainers led by FrieslandCampina Wamco Nigeria Plc, which improved by N1.31 to close at

Image
30-September-2023

Naira Appreciates on Dollar Across FX Market Segments

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Investors and Exporters (I&E), the Peer-to-Peer (P2P), and the black market arms of the foreign exchange (forex) market on Friday, September 29, as a turbulent third quarter ended. In the official segment, the local currency improved its value against the greenback by 2.6 per cent or N20.04 to close at N755.27/$1, in contrast to the preceding day’s N775.31/$1 amid a drop in the supply of FX into the system by 11.6 per cent or $16.73 million to $127.82 million from the $144.55 million published on Thursday. In the

Image
30-September-2023

Brent, WTI Shrink on Macroeconomic Worries, Profit Taking

By Adedapo Adesanya The prices of Brent futures and the US West Texas Intermediate (WTI) futures went down by about 1 per cent on Friday, due to macroeconomic concerns and sustained profit-taking. Data showed that Brent fell by 7 cents to $95.31 per barrel and WTI depreciated by 92 cents to $90.97. Prices rose about 30 per cent in the third quarter of the year helped by the production cuts by the Organisation of the Petroleum Exporting Countries and allies (OPEC+). This action squeezed global crude supply. Brent was about 2.2 per cent in the week and 27 per cent