Sports betting is a lucrative industry in Nigeria, with approximately 60 million gamblers. Most of the gamblers lie between the age of 18 and 40 years. On average, bettors spend about 3,000 Naira daily on online bets. It has led to a consequent growth in the industry in recent years. The industry attributes its growth to the dense Nigerian population and the availability of internet services. With the inception of Nairabet, many other gambling sites like SureBet came along.
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Is Online Sports Betting Legal in Nigeria?
Sports Betting is legal in Nigeria. The country takes a betting industry seriously and that is why there are regulations to guide it. Such regulating bodies as the National Lottery Regulatory Commission are responsible for regulating this fast-growing industry. Moreover, it is authorized by the National Lottery Act 2005 and Chapter 22 of the criminal code endorsed in 1990. However, betting in Nigeria is allowed for persons under the age of 18.
On average, bettors spend about 3,000 Naira daily on online bets. It has led to a consequent growth in the industry in recent years. The industry attributes its growth to the dense Nigerian population and the availability of internet services. With the inception of Nairabet, many other gambling sites like SureBet came along.
Under the state level, Lagos city formed the Lagos State Lotteries Board (LSLB), which is responsible for regulating sports betting around Lagos State.
Popular Sports To Bet On In Nigeria
There are several sports for Nigerian gamblers to place their bets. These enable punters to win money as they enjoy different sporting games. Though punters win money, they must stake some money on a particular sport first. Moreover, the government earns revenue by taxing these sites.
Football is the most famous game to bet on in Nigeria. Punters can place bets on National teams in the World Cup or international teams from La Liga or English Premier League. It is, however, necessary for gamblers to have sports betting account to place their soccer bets. Bettors with accounts can easily win millions from multiple bets from small stakes. Moreover, bookmarkers make it easy for punters to place their bets since they only need to click on a football match and bet on it.
Basketball is another great sport that players stake some money on. There are a variety of basketball games; for instance, in the National Basketball Association (NBA), there are 30 teams. Every team plays 82 games in the usual season. They play half of these games t home and the other half away, which means punters have plenty of betting options. All these games are in the NBA.
Betting in basketball is can be lucrative, especially when bettors know how to analyze the odds. Calculating odds in basketball is similar to other sports like tennis since they are direct. The amount earned depends on the stake placed.
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Sportsbook Bonuses and Promotions
Sports betting websites offer promotions and bonuses to their new customers. These bonuses attract customers leading to the growth of the arbitrage market. Some betting sites provide handicap rewards to customers who simply create accounts. The frequent sportsbook bonuses and promotions include; free bets, ACCA Boost, cashback, enhanced odds, and sign up bonuses.
Sign Up Bonus
Customers signing up at a new sports betting platform always have an advantage of a welcome offer. Unfortunately, this bonus is available to a customer only once. The main objective of a sign-up bonus is to attract new customers to a sportsbook, who can then utilize it with their bets.
This is another type of bonus available at online bookmarkers, which is attached to a first bet. The bonus is simple because once a client registers at an online betting site, they are offered a risk-free bet. Elsewhere, you acquire a free bet amount after following several terms linked to the bonus.
These offers boost your stake on a particular bet. They function the same way as free bets since they allow punters to promote their winnings. Since enhanced odds act as an advertisement, they are mostly attached to big leagues and are only for new customers.
ACCA Boost is available to several sports and competitions. Mostly, ACCA Boost is a promotional development in the odds related to multiple bests. Such as parlays or multi bets. However, for gamblers to enjoy this promotion, all of their selections must-win for their bet to payout.
A promotion that offers a particular percentage of the losses incurred in bets. The development is essential to customers who wish to stick with a bookmaker. Punters can utilize the Cashback feature for any sport available on the site during the period for which the promotion is active.
Types of Bets
There are various types of bets such as Asian Handicap in Nigeria a gambler can bet. The commonly known types include the following:
• Single bet: This is the most popular bet. With this type of bet, a player simply chooses a sport that will win. You can enhance your direct win bet by placing it on a single event.
• Double bet: This is a type of bet that enables the punters to place a single bet on two outcomes. However, both choices must win to assure a return. Losing one leads to a bet loss.
• Accumulator: Otherwise known as a multi-bet, an accumulator entails multiple choices a single bet. Gamblers playing the game can only be sure of winning if their selections go through.
• Jackpot bet: This is the most challenging type of bet to place. Correct prediction can result in winning, and one wrong choice leads to a loss.
Sports Betting Strategies
• Apprehend the odds: In this strategy, the odds determine winnings. The lower the odds, the higher the bookie thinks the bet will win and vice versa.
- Analyse the recent form: You can use your experience with teams and analyze games before placing a bet.
- Shop around: participants should visit various sites and compare their odds to determine which website to bet from.
- Choose markets and sports to bet on: look for the most profitable market to bet on which you understand odds.
- Utilise betting systems: analyze all systems to get tips especially live bet systems, since they give a direct view.
Live Streaming and In-play Betting
Most sports betting sites in Nigeria provide a live stream option where gamblers can enjoy the game and wait for a good opportunity to place a bet. A sports betting site like Bet365 offers a live stream feature for various games, including:
- Table Tennis
- Ice Hockey
The operators accurately categorize these games, such that a bettor clicks on the preferred category to watch a live match. However, to view a live game, one has to have an active account with a positive balance. Various betting sites support in-play betting where a client places a bet while the game is ongoing.
Sports Betting on Mobile for Android and iOS
Most Nigerians prefer using apps to place their bets. Nearly every individual above 18 years of age has a smartphone that they carry wherever they go. Therefore, it is easier for punters to place their bets using their smartphones or tablets on the go.
Gamblers possessing android phones can easily download the application depending on the site they wish. Alternatively, those with iPhones can also download the app. In most cases, gamblers with Android phones and iPhones enjoy the game the same way the laptop possessor enjoys. The only difference is the portability of the device.
The Best Bookmakers for Nigerian Players
The best sports betting site must offer Nigerian punters a good playing ground to place their over-under bets. There are different features such as market and odds, and bonuses attached to the sports betting sites. Several bookmakers are available for players to gamble their games. They include Betway and Bet9ja.
The bookmaker is more reliable as compared to other gambling sites. It is among the most trusted bookmakers in Nigeria. The site comes with incredible features such as in-play and cash-out. Gamblers using this site can place their stakes on games ranging from football to tennis. The site also offers an excellent sign up bonus and you will find a bet9ja casino games section.
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The bookmaker started in 2006 and it possesses a legal gambling authorization. Betway is a company from the UK, however, it is an a good option for Nigerian bettors. The bookmaker is an official sponsor of English Premier League teams like West Ham United. Punters can enjoy sports betting activities from a large number of promotions.
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Sports Betting FAQ
💸 Do International Bookmakers accept the Naira?
Several international Bookmakers accept deposits and allow withdrawals in Naira. With gambling being on the rise in Nigeria, bookies have recently started accepting the Naira. However, not all of them accept the Naira yet.
📱 Can I bet on my mobile?
A bettor can use a smartphone to place a bet. Furthermore, one has to have an active account with a positive balance to bet.
⚽ What is the meaning of “parlay bet” when it comes down to sports betting?
It is a type of sports bet that allows players to combine several bets into one bet. The combination reduces the odds to a lean figure, but winnings are more massive.
➕ What is an Accumulator bet?
It is a bet that contains four or more selections on a bet. If all your choices are correct, you become a winner of the accumulator bet.