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H1 2024 Analysis On The Nigerian Igaming Market

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Nigerian Igaming Market

According to Statista, Nigeria’s iGaming market is set to expand at a compound annual growth rate (CAGR) of 6.09% between 2024 and 2027.

Looking at the most recent H1 2024 data for the Nigerian market via iGaming analytics platform Blask, the country seems to be well on the way to establishing itself as one of the most influential in African iGaming.

Exploring the Blask Index for the Nigerian iGaming market

Let’s start by looking at Blask’s own “Index”. This quantitative measure gauges the size of a country’s iGaming market. In H1 2024, Blask says the peak of active Nigerian players reached 21 million in February, with an H1 average of 18.8 million active players across Nigeria. How does this compare as a year-on-year improvement? Blask’s H1 2023 average came in at 16.2 million active players, representing a 2.6 million year-on-year rise – 16% in percentage terms.

There’s also been a steady rise in first-time players too. Blask uses expected first time deposits (eFTDs) as a measure for gauging iGaming market growth. In H1 2023, there was a total of 3.3 million eFTDs compared with 3.7 million eFTDs in H1 2024. This represents a 12.1% year-on-year improvement. Both of the above metrics suggest Statista’s 6.09% CAGR could yet be surpassed – and it gets better.

An encouraging sign for gross gaming revenues

Blask’s expected gross gaming revenue (eGGR) for the Nigerian iGaming market, which estimates the total sum of money wagered minus winnings, hit a total of $95 million in H1 2024. That’s up 15.8% year-on-year from $82 million.

All the indications point to an upwardly mobile iGaming market in Nigeria, underpinned by a string of forward-thinking operators. There are several Nigeria-friendly iGaming platforms working hard to innovate and deliver the next-generation casino games for the new wave of players of legal age. Provably fair crash games are one of the latest additions to iGaming libraries. The Aviator title is listed by the likes of Betano, famed for its simple game mechanics which require little to no classic casino knowledge to get started.

Crash games like these are just one example of how iGaming sites are looking to broaden their player base. Another subsector of iGaming that’s on the rise is live casino gaming. Live dealer casino games are designed to offer a new layer of immersivity, transporting you to virtual casino studios via high-definition (HD) quality real-time broadcasts.

For those who cannot or have never considered venturing to a land-based casino, live casino games are the closest thing to a real-life casino experience. With broadband connectivity fast becoming the norm for residential properties in Nigeria, players can interact with the dealer via the chat box, as well as the other human players active at the table. While the most popular live casino games surround classic casino options like blackjack, roulette and baccarat, there’s a new wave of live dealer games beginning to thrive.

Like crash games, live dealer game shows are successfully dumbing down the casino gaming experience. These wheel-based games aim to replicate a TV-style gameshow environment, with little to no requirement for experience or strategy to prevail.

Well-rounded market growth with work to do for established brands

In its closing remarks within its H1 2024 report, Blask said that, although some Nigeria-friendly iGaming operators experienced a fall in eGGR and market share in the opening six months of the year, the overall market revenue rose strongly. Blask believes this is an encouraging sign, one which indicates the market is powered by a diverse choice of iGaming operators as opposed to being driven by a small monopoly of brands.

Blask’s comments suggested that some of the most established Nigerian iGaming operators found it harder to acquire new players than others, despite the market growth. All of which suggests new entrants to the market are offering a competitive alternative, forcing the leading brands to up their game.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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FIFA Picks Saudi Arabia to Host 2034 World Cup

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saudi arabia 2034 fifa world cup bid

By Adedapo Adesanya

Saudi Arabia has been confirmed as the host nation for the 2034 FIFA World Cup.

Also confirmed were the hosts for the 2030 World Cup, which was awarded to six countries and will take place across three continents to celebrate 100 years of the tournament.

Saudi Arabia was the sole bidder for the 2034 competition. Its host status was confirmed on Wednesday after an online meeting of the 211 members of the International Federation of Association Football (FIFA).

The members confirmed the unchallenged bids by acclamation – simply clapping during the virtual meeting led by FIFA president, Mr Gianni Infantino.

As well as the World Cup, Saudi Arabia is hosting football’s 2027 Asian Cup, the 2029 Asian Winter Games and the 2034 Asian Games. It also has long-term ambitions to host more major events, including the Women’s World Cup.

The 2030 tournament will be led by co-hosts Spain and Portugal in Europe, and Morocco in North Africa. Uruguay, Paraguay and Argentina will each hold an opening match to mark 100 years since the first World Cup took place in Uruguay in 1930, a tournament that the South American nation won.

The next World Cup in 2026 will be co-hosted by three proximal nations in North America— the US, Canada, and Mexico.

Saudi Arabia first published its bid for the World Cup back in August 2024 after FIFA controversially fast-tracked the process for hosting the tournaments in 2030 and 2034.

The bid for the 2034 tournament has led to criticism from activist groups, who argue that Saudi laws will not protect workers overseas.

Some of the issues echoed that of the 2022 tournament held in Qatar.

The tournament will require the construction of eight new stadiums, for a total of 15 hosting venues, plus the addition of 175,000 hotel rooms, which will rely heavily on migrant labour.

Critics of FIFA also insist a Saudi-based World Cup risks a repeat of the rights abuses seen during a decade of similar preparations for the 2022 World Cup in Qatar.

FIFA previously praised the Saudi bid in an in-house evaluation, noting that the 48-team, 104-game tournament offers “significant opportunities for positive human rights impact”.

However, it added that Saudi Arabia must invest “significant effort and time” to comply with international standards.

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Brila FM Suspends Operations in Port Harcourt, Abuja Over N200m Fraud

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brila FM

By Aduragbemi Omiyale

Leading sports radio station in Nigeria, Brila FM, owned by a veteran sports journalist, Mr Larry Izamoje, has suspended its operations in Abuja and Port Harcourt in Rivers State.

The broadcast stations in these two prominent cities of the country are currently not on air as a result of the directive of Mr Izamoje.

He took the action after uncovering fraudulent activities by employees of the company.

It was alleged that Brila FM’s Head of the Port Harcourt branch, Mr Sam Victor Mpong Akakan, has not been remitting funds to the company’s account.

In a statement made available to Business Post, it was stated that Mr Akakan has been arrested by the police in connection with the issue alongside the organisation’s former Chief Accountant, Mr Ekerete Sunday.

Mr Akakan was accused of opening a company, Bricast Communications, only two months after Brila FM Port Harcourt began operations with him as the Head of Station.

It was claimed that he took the first three letters of Brila and the word ‘CAST’ from ‘BroadCASTing’ to register his business name, which he allegedly used to issue invoices meant for Brila FM.

It was said that in connivance with others, Mr Akakan issued several Bricast Communications invoices with Bricast account details to several Brila FM clients instead of the company’s invoice bearing Brila Broadcasting Services Ltd for the diversion of payments for adverts and sponsored programmes aired on Brila FM stations in Abuja and Port Harcourt particularly.

He is also being investigated for forging certificates of broadcasts of Brila FM, tendering the same to clients using his Bricast invoices and getting payments into his Bricast account from such activities.

Mr Akakan was said to have presented himself on several occasions to unsuspecting clients including churches as Brila FM’s marketer and once convinced to do business on Brila FM gave them Bricast invoices for payments to his company (Bricast) repeatedly.

It was claimed that a fraud case involving over N200 million led to the temporary suspension of the Abuja and Port Harcourt branches.

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Analysis Reveals Wilfried Zaha as Africa’s Most Handsome Athlete for 2024

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Wilfried Zaha

By Dipo Olowookere

An analysis has shown that an Ivorian footballer, Wilfried Zaha, is the most handsome African sportsperson in 2024.

Zaha, who opted to play for Cote d’Ivoire after the Three Lions of England snubbed by him, currently plies his trade in Turkey for Galatasaray.

He moved to Turkey from England, where he played for Crystal Palace, and was one of the stars of the football outfit.

In research conducted by Bettors, Zaha topped the list as the most attractive African male athlete of 2024, closely followed by Odion Ighalo, a former Nigerian striker, and Akani Simbine, a South African sprinter.

The Most Handsome African Athletes of 2024 rankings used the golden ratio as a benchmark for facial attractiveness.

This study carefully analysed high-quality images of athletes from various sports, offering a fresh perspective on their aesthetic appeal.

The methodology involved selecting three high-quality images per athlete, sourced from official sports archives, media outlets, and verified athlete profiles, ensuring accuracy and clarity, according to the results of the research made available to Business Post.

Fourth on the list is Alex Iwobi of Nigeria, who plays for Fulham FC in England, and a Tanzanian footballer with Greece’s PAOK, Ally Samatta, is the fifth Most Handsome Athlete in Africa.

Ghana and Arsenal’s midfielder, Thomas Partey, is sixth, Senegalese Kalidou Koulibaly is seventh, Pierre-Emerick Aubameyang of Garbon is eight, Ivorian Cheick Sallah-Cisse is ninth and Senegalese Reug Reug is number 10 on the list.

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