Sports
How Nigeria’s New Tax Rules Could Reshape Sports Betting
As 2024 comes to a gradual end and companies begin to make plans for the new year, the Nigerian sports betting industry is faced with a new year’s resolution which it didn’t make but has been imposed on it by this political administration- the dilemma of withholding tax regulations.
The introduction of this new tax regime could fundamentally alter the sports betting landscape, affecting everything from operator profits to punter behaviour and industry growth.
Once the new regulations come into effect on January 1, 2025, eligible transactions for winnings in i-gaming shall incur applicable rates of 5% for residents and 15% for non-residents.
For Managing Partner, WYS Solicitors & Legal Counsel Africa, Olafadeke Akeju, the fact that i-gaming is largely online means this new tax regime may cause of exodus of customers from licensed operators to illegal remote operators, due to the uncaptured and unprotected nature of the digital space:
“For those who are unlicensed and foreign operators, they will still be able to owe tax to players and offer better odds and better returns because there is no deduction or withholding tax. What this means is that licensed operators will lose customers to the illegal and remote operators, that is the likely implication, as there could be a significant drop in patronage once this withholding tax kicks off.”
Akeju also struggles to understand how this tax would apply to walk-in customers who mostly require age verification but may not require identity verification- especially because this regulation exempts over-the-counter transactions.
Velex Advisory Tax Expert, Jonathan Nwanze is also keen to see how this tax regime would be implemented, but he is more worried about the likelihood that the Tinubu administration, “could be creating a monster asking for remittance without the capacity to check it.”
Nwanze explains that the introduction of withholding tax is not novel, as it occurs in other countries in West Africa like Ghana. However, what makes Nigeria’s exceptional is the timing, investment and the market size:
“It’s not the first time it’s been introduced. However, some of the aforementioned markets cannot be compared to the Nigerian market in terms of size, Nigeria is way bigger. Some are more regulated because of the kind of structure they have. For instance, in Ghana, there are regions, not states and there is one revenue collection body. In Nigeria, we have states, but numerous bodies at various levels of government collect revenue. I think the government has to invest in a lot of technology. If they are looking at getting a lot out of gaming, there must be investment in infrastructure,” Nwanze told sports and betting news site, SportsBoom.com.
What’s the rush?
Nigeria’s economy has been on a steady decline due to a number of factors including the poor timing of policies. For the implementation of withholding tax, it’s equally symptomatic of poor timing, grey areas and an inherent lack of understanding about the i-gaming ecosystem.
Akeju explains that in order for betting operators to comply with the provisions of the new tax regime, there must be upgrades across the betting platforms and since the software/ platform providers aren’t local, the operators need to get in line for an estimated 6 to 9 months before their platforms are upgraded.
She thinks it’s highly likely that: “we could potentially have a situation whereby on the 1st of January 2025, operators won’t be able to comply due to circumstances beyond their control.”
Apart from playing the waiting game, the cost of upgrading betting platforms equally poses a huge financial burden. Akeju explains that while larger betting operators own their betting platforms, the same cannot be said for smaller operators:
“The platforms which smaller operators use for gaming are owned by third parties with whom they have white label agreements. Hence, implementing the withholding tax right now is going to be a challenge for those operators as it would require them to pay for developers, pay for customization and pay for integration of the platforms to suit the regulation in question.”
An eternal optimist may ask, What about alternative revenue streams? Is there any that betting companies could explore to offset the impact of these new taxes? Akeju makes it clear that the operators are caught between a rock and a hard place- that’s because offering a new product translates to applying for another license for the product in question.
Sadly, the alternative products’ providers are primarily based in Europe, which means more cost would be incurred by the operator in Euros.
Akeju is very concerned about how the smaller operators will keep their customers and while she may not have a universal solution for the Nigerian i-gaming industry as a whole, she may have a potential solution for bigger operators, but that entails their willingness to assume a sacrificial role by choosing to “absorb this withholding tax on behalf of their players or offer certain bonuses and promotions that could boost winnings so that players do not really feel the effect.”
A misconception & an opportunity
On Friday, November 22, 2024, the Supreme Court nullified the National Lottery Act and scrapped the National Lottery Regulatory Commission (NLRC). During a crucial meeting held days before the judgment, the Director General of the now defunct NLRC, Lanre Gbajabiamila, made a profound statement about the assumption that the i-gaming industry is a billion-dollar industry:
“How do we know it’s a billion-naira industry? There’s no data to show. Anybody can say it’s worth billions of naira, but until we have proper data, we can’t safely say what the industry is worth.”
Just like Gbajabiamila, this is a perception which Nwanze seeks to correct, and he thinks it may have a lot more to do with this new regulation than we realize:
“The government appears to be keen on generating revenue, but the challenge lies with the timeline – Jan 2025 is not feasible. If you look at best practices as is the case in the UK- there is no collection of withholding tax and that’s because the responsibility of taxes should sit with the company that owns the business. The reason is that the companies make more profit than the players. If you look at the number of losses compared to winnings, you’ll be shocked at how high the former is compared to the latter. In fact, the way the business is structured, it’s from those losses that winnings are paid. I think the government should review its position and opt for more engagement regarding the nature, implementation, application and configuration of this plan.”
Now that the NLRC has been dissolved, there might be an opportunity for states that may choose to opt out of this tax and while the implementation has yet to play out, Nwanze thinks that some states may see exemption as an opportunity to attract more betting companies to their states.
Legal options & absence of meaningful stakeholder engagement
With all the negative hits that the Nigerian i-gaming industry has taken in 2024, is it simply at the mercy of the government policies/ regulations, or could legal options be explored to push back? Akeju explains that “the law is made for man and not vice versa.”
While she is hopeful that the government will do a 180 when it sees the negative impact this tax will have, as was the case in the most regulated market in the world- the UK; she is fearful of Nigeria’s reputation and pace when it comes to repealing laws and regulations.
Akeju recalls attempts made by stakeholders to dialogue with the government on this matter and narrates a scenario which is reminiscent of intentional exclusion until a decision was made:
“The association of Nigerian bookmakers engaged with the presidential committee on fiscal policies and tax reforms. We had a few meetings, but it appeared as though by the time the industry was aware of many of the decisions that were taken by the government, it was at an advanced stage. Now that it has been passed, efforts are still being made for a guidance note to clarify some of the grey areas.”
Akeju and Nwanze make their final appeal by asking the government to focus its taxation efforts on the operators and not the players to make for a more streamlined and better-defined application that is understood by all involved.
Conclusion
As Nigeria’s sports betting industry braces for the 2025 withholding tax storm, both legal and tax experts sound a unified alarm: taxing players instead of operators could backfire spectacularly.
With Akeju warning of an exodus to illegal operators and Nwanze questioning the government’s monitoring capacity, the consensus is clear – this rushed regulation could transform Nigeria’s gaming landscape into a wild west of unregulated betting.
The irony? In pursuing additional revenue, the government might end up with a smaller piece of an increasingly fragmented pie. As the countdown to January 2025 begins, the industry’s message is simple: hit pause, rethink the approach, and focus on operators, not players.
Weather conditions such as rain, wind, snow, or extreme heat could have an impact on the nature of both teams’ style of play, the way that goals might happen, and the way they are priced by bookmakers like 1xbet. Therefore, in recent years, the weather has been seen as one of the quickest, non-visible influences on wagering and gambling.
In the final hours leading up to a game, many individuals who wager money will either check the weather or look to confirm it has been altered before they access the relevant sites to wager on the game. The result is often that there has been a change in price immediately after the event has been confirmed. There is no requirement for a weather press conference to take place, as weather conditions will dictate when to make price adjustments.
Mobile alerts make weather-driven moves faster
Modern weather surprises spread instantly in modern betting with radar images on social media; waves of bets have begun flooding in before even national broadcasters are reporting current weather conditions. The overwhelming influence of weather bets is multiplied by players being able to place their wagers using mobile devices, as they are able to follow thick and thin markets by paying close attention to their mobile betting devices via 1xbet apk, to be ready and able to react immediately when weather-related news breaks. When rain starts to come down heavily or winds start to pick up, bettors adjust their expectations and place bets on things like totals, corners, and/or cards, respectively.
The fact that bets can be processed and accepted instantly when betting with mobile devices provides tremendous value and importance to how pre-match odds can be pushed up and down quickly, even though the movements in pre-match odds may have been created with only a small portion of the total stake being made by the total number of bettors.
Why wind and rain hit the goal markets first
Players from getting enough distance on long balls, which can cause problems with crossing the ball. Heavy rainfall can affect pass accuracy and create unexpected deflections due to players slipping or losing their footing. High temperatures can affect the pace of play and increase fatigue.
Bookmakers commonly will alter goal-related markets first when weather has a significant impact on shot quality and chance conversion. If the pitch is heavy, teams may be able to create attacking chances but not be able to finish them. Strong winds can disrupt how set pieces are taken, which makes them unpredictable.
Typical types of weather effects that drive odds adjustments include:
- strong wind reducing the accuracy of crosses and long shots;
- heavy rain reducing pace of play and increases slips, getting muddy pass accuracy and less cleanly taken.
- waterlogged playing surface, creating difficult passing;
- very high temperatures causing slower second halfs;
- and cold weather reduces stamina and touch.
These elements affect total point spread lines and sometimes also point spread lines in instances where either team is using more of a certain style of play.
How odds shifts look when the forecast changes
Weather-based movement often follows a recognizable sequence: forecast update, market pause, then adjustment. It can happen in minutes.
| Weather shift before kickoff | What bettors expect | Where odds usually move |
| Wind picks up sharply | Fewer clean chances | Under goals shortens |
| Heavy rain starts | Slower play, more mistakes | Totals and corners adjust |
| Heat wave confirmed | Lower tempo late | Second-half totals drift |
| Sudden storm warning | Match may stop or delay | Markets suspend briefly |
| Pitch declared heavy | Physical game, fewer patterns | Cards and unders tighten |
The public reacts late, the market reacts early
Oddsmakers adjust the line in their favor before the average bettor has even thought to make a wager on a particular matchup. Many recreational players are betting based on team name and recency—weather is an afterthought, if that at all.
Trained bettors will typically make their move much earlier in the process by being tuned into the weather forecast and any stadium information. Once they get their money in early, the oddsmakers adjust the odds and the recreational players will wager at a different price.
That’s why the weather has such a huge ability to create a “pre-match surprise”; it can quickly change assumptions and betting markets are based on assumptions.
Smart ways to handle weather-driven chaos
The weather offers chance and also risk. Quick checklists come in handy when making smart choices:
- Check the current market movement before betting on a new weather event.
- Don’t accept forecast headlines generally; look back for context.
- Assess style of play: crossing the touchline, tempo, and physical size.
- Don’t rely solely on morning weather updates; check late changes to match timing as well.
- Be cautious when betting on the live market after the weather created chaos.
The forecast does not match, but the forecast could create a change to the match, which can createa change to the odds.
Weather is not background noise anymore
Today’s weather plays a major factor in today’s gaming and gambling markets. Weather conditions can completely alter game pace and a gambler’s approach to betting. Many times, sportsbooks have to adjust pricing for an entire section of the board at the last minute due to these changing weather patterns.
The important piece is understanding the reasons behind odds movement in order to take advantage of them rather than just noticing they have moved. As weather conditions change at the end of a sporting event, the betting market is reacting to uncertainty, and when uncertainty increases, the odds do not typically remain as displayed on the betting screens.
By Henry Ovie
A one-day golf training and tournament specifically for girls has been fixed for Sunday, March 8, 2026, in Koko, in the Warri North of Delta State.
A statement from the organisers of the event, Canaan Land Golf Training and Tournament, disclosed that about 50 girls would be accommodated.
Tagged The Biggest Giving Day of the Year, the programme, according to the chief executive of Akogate Group, Mr Felix Aganbi, will entrench the attitude of excellence and develop young, highly quality golfers in terms of their golf quality and personal character.
He urged parents in Nigeria and abroad to allow their daughters to attend the event, saying it will build their confidence.
“The golf training and tournament will introduce girls to golf in a social and engaging environment. It will also help them build confidence, learn vital skills, and connect with others in a friendly community,” he was quoted as saying in the statement on Thursday.
The programme, which will take place at the Canaanland Golf and Country Club, celebrates the social, economic, cultural and political accomplishments of women as well as raises awareness for accelerated gender parity
“Open to girls in years 8-16, the training and tournament provide high-quality coaching to assist the girl child in pursuing excellence in the sport of golf,” Mr Aganbi noted, listing technical skill development, comprehensive fitness and mental conditioning as key features of the training.
“The girls will learn the basics of golf grip, stance, posture alignment, golf rules and etiquette. They will also be taken for an 18-hole playing lesson.
“The training and tournament will broaden opportunities for girls in Nigeria to realise their potential through education.
“Canaanland Country Club shall continue to encourage the education of females, improve the economic position of women and enhance their participation in matters relating to both the family and the society.
“It is also to join hands with the government in making our state a better place to live, campaign for the dismantling of systemic barriers and push for the power of reciprocity and abundant giving,” he disclosed.
Driven by Sir Alfred and Mrs Warami Temile, Mr Aganbi said the “club would continue to provide necessary assistance for the general development of people, especially those who live in the rural areas.”
In a related development, Mr Aganbi said the Oluremi Tinubu Golf Classic would take place on Saturday, April 25, 2026, at Canaanland Golf and Country Club, Koko.
“The tournament will attract international talent, create opportunities for emerging players and motivate the next generation to see what is possible in the women’s game,” he stated, adding that over 75 women are expected to participate.
The event is another important step in strengthening the women’s game in Nigeria, delivering significant benefits to the Niger Delta, drawing women, officials and fans to Warri North and boosting tourism and hospitality industries in Delta State.
Aquafina took centre stage at the 11th edition of the Access Bank Lagos City Marathon on 14 February 2026, rewarding the first ten groups to complete the 10-kilometre race with N1 million each. The initiative highlights the brand’s continued investment in fitness, wellness, and the spirit of collective achievement within Nigeria’s growing running community.
Under its campaign theme, “Run am with your Padi of Life,” Aquafina encouraged runners to participate alongside friends, teammates, and running crews, celebrating the role of support systems in pushing limits and sustaining performance.
Throughout the race, Aquafina ensured strong on-course visibility while providing hydration support to help participants maintain energy levels. Its on-ground activations added excitement for both runners and spectators, contributing to the vibrant atmosphere of the event.
By rewarding groups rather than individual runners, Aquafina spotlighted the value of shared goals and mutual accountability. The N1 million prize elevated the competitive energy of the 10km race while reinforcing the importance of collaboration within Nigeria’s evolving fitness culture.
Widely regarded as one of West Africa’s most prestigious road races, the marathon once again attracted elite athletes, recreational runners, corporate teams, and fitness enthusiasts from across the country and beyond. Within this high-energy environment, Aquafina positioned itself as a trusted hydration partner supporting endurance and peak performance.
Speaking after the race, Funso Elubeku, Assistant General Manager at Seven-Up Bottling Company (SBC), said:
“The Access Bank Lagos City Marathon represents resilience, discipline, and the power of community. Through Aquafina, we ensured participants remained hydrated while celebrating the teamwork and support that helped runners push beyond their limits. Rewarding the first ten finishers underscores our commitment to recognising dedication, performance, and personal achievement.”
Aquafina’s presence at the marathon underscores its broader mission to promote active lifestyles and support platforms that inspire healthier living, strengthening its connection with Nigeria’s fitness community through meaningful engagement.
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