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Nigerian FG Proposes Introduction of Tax Scheme on Sports Betting

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The Nigerian Federal Government is proposing to introduce a sports betting industry tax scheme in the country.

The executive secretary of the National Lottery Trust Fund (NLTF), Bello Maigari, on Tuesday said Nigerians spend billions of dollars on betting each year despite the economic hardship in the country.

Maigari said this at the second edition of the ongoing biennial national gaming conference which was organised by the National Lottery Regulatory Commission (NLRC) in Lagos.

The NLTF chief in his address at the conference further said that the online sports betting sector in Nigeria has so far witnessed exponential growth.

“It is not out of place to look at some statistics that underscore the significance of this industry and situate its centrality in promoting the renewed hope agenda of this Administration,” he said.

“As of my last knowledge update in September 2021, the global online betting market was estimated to be worth over $50 billion, and it has continued to grow significantly since then.

“In Nigeria, the online betting sector has seen exponential growth, with millions of citizens engaging in various forms of online gaming and betting.

“With a population of over 200 million people and the largest betting market in Africa, our country is making giant strides in the world of online sports betting.

“Currently, there are over 65 million Nigerians actively engaging in this activity, spending 15 USD on average every day. It is on record, each day, 14 million bet takes and payments are made online in our country.”

Maigari disclosed that the revenue from the online betting sector alone in Nigeria is projected to reach over $256 million by the end of the year 2023.

He stated that this is expected to experience an annual growth rate of nearly 10% to reach more than $366 million by the year 2027.

Maigari further called on the Federal Government should create a framework that can encourage the sports betting industry to start paying taxes in Nigeria.

“Moreover, leveraging the gaming and betting industry as a tax contributor can help create a level playing field for both local and international operators,” he said.

“By establishing clear and equitable tax regulations, we can encourage foreign players to operate within our regulatory framework, ensuring that we benefit from their presence whilst safeguarding our citizens.

“The importance for taxation of this sector cannot be over-emphasized.”

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Africa

SOFTSWISS Integrates Horse Racing Module Into Sportsbook

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SOFTSWISS Integrates Horse Racing Module Into Sportsbook
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SOFTSWISS, a global tech expert with over 15 years of experience providing innovative iGaming solutions, has announced the integration of a Horse Racing Module into its Sportsbook software. The module will enhance the SOFTSWISS offering, initially available in South Africa.

Horse racing has long been a traditional and significant sector of the betting industry, particularly in regions with strong ties to the UK, such as South Africa, Canada, Japan, and New Zealand. According to the research, the global horse betting market is projected to reach 82.6 billion euro by 2032, registering a CAGR of 7.6% from 2023 to 2032. With its rich history and expected growth, the Horse Racing Module provides operators with additional business opportunities, monthly covering, on average, 320 local races and 2,150 international races from 14 different countries.

Originally developed by Turfsport, a prominent South African software provider with 35 years of experience in the iGaming industry acquired by SOFTSWISS, the Horse Racing Module allows players to place fixed-odds bets on multiple markets. Key features of the Horse Racing module include race cards, silks, and multiple bet types. The solution is designed with flexibility, offering unique skins and configurations to align with various brand identities.

Alexander Kamenetskyi, Head of SOFTSWISS Sportsbook, comments: “The acquisition of a majority stake in a key South African software provider has enabled us to integrate the SOFTSWISS Sportsbook with the Horse Racing Module by Turfsport, widening our offering. Launching this module in South Africa aligns with our recent expansion into the region, where we have obtained local certifications for our Casino Platform and Sportsbook. Horse racing remains highly popular, particularly in South Africa, but we are confident this product has strong global potential. This integration marks just the first step in the ongoing development of the Horse Racing offering within our Sportsbook.”

Earlier in 2024, SOFTSWISS introduced two new South Africa-related products: the Lotto Software and the Retail Betting Solution. The Lotto Software allows operators to offer a wide range of customisable lottery number betting options independently of traditional lottery organisers. Optimisation for both desktop and mobile ensures players custom and quick-pick betting options. The comprehensive Retail Betting Solution supports a wide range of betting activities like sports betting, lotteries, horse racing, and casino games. It empowers operators to set up offline gambling businesses quickly and legally.

SOFTSWISS will showcase its latest portfolio updates at the SBC Summit Lisbon from 24 to 26 September. Visitors to Stand B160 will have the opportunity to learn more about the recent upgrades of the SOFTSWISS ecosystem. 

 

About SOFTSWISS 

SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform, and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.

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Africa

Play’n GO announces landmark partnership with African operator Betika

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Play’n GO announces landmark partnership with African operator Betika
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Play’n GO, the world’s leading casino entertainment provider, is thrilled to announce a landmark partnership with prominent Kenyan operator Betika. This exciting collaboration marks a significant milestone in expanding Play’n GO’s exceptional gaming content throughout Africa.

As part of this partnership, Play’n GO will integrate its extensive portfolio of premium casino games such as Book of Dead, Rise of Olympus, and Gemix into Betika’s platform, delivering a superior gaming experience to players across the continent. This move highlights Play’n GO’s commitment to bringing world-class entertainment to new markets in what is a first for the world-famous supplier and underscores Betika’s dedication to offering diverse and high-quality gaming options.

Play’n GO is live in over 30 jurisdictions worldwide and boasts a portfolio of over 350 active world-class game titles.

Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re very excited to announce this partnership with Betika, which gives us entry into several new markets for Play’n GO. Betika are one of the leading operators across the entire African continent, and joining forces with an operator of their experience and gravitas is a wonderful opportunity for our business. Betika share our goal of a regulated, sustainable industry, and this announcement marks the beginning of what we believe will be a highly successful partnership.”

Betika has established itself as a major player in the Kenyan betting industry, known for its commitment to providing an outstanding user experience and a wide array of betting options. By incorporating Play’n GO’s renowned games, Betika aims to further enhance its offering and attract a diverse range of players.

“Partnering with Play’n GO is a significant step forward for Betika,” said Peter Stagles, Head of Gaming, Betika. “Play’n GO’s impressive lineup of games is the perfect complement to our platform, and we are confident that this collaboration will set new standards in the African gaming industry. We look forward to working together to deliver exceptional entertainment to our players. This collaboration is expected to bring enhanced gaming opportunities and excitement to players across Africa, marking a new chapter in the continent’s rapidly evolving gaming sector”.

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Africa

Playtech Launches Casino and Live Casino Products with Betway in South Africa

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Playtech announced the introduction of its suite of casino and live casino products with Betway in South Africa.

Catering to the growing demand of South African players for accessible gambling solutions, the collaboration expands Playtech’s presence in South Africa and will see Playtech’s casino and live casino offerings available on the Betway platform in the region.

As part of this partnership, Playtech’s premium casino games and live dealer options will seamlessly integrate into the Betway platform. This not only enhances Betway’s portfolio but also underscores Playtech’s commitment to South Africa – a key market in its global strategy due to its rapid growth and influential position within the African gaming industry.

Diane Crookes, Senior Commercial Director at Playtech, said: “Betway is a brand renowned for delivering an excellent player experience internationally and we are thrilled to extend our successful partnership into the South African market. Our collaborations in multiple key markets have been incredibly successful, and we are confident that South Africa will be no exception. We are confident that Playtech’s innovative products and services will enhance Betway’s player experience even further and we look forward to our continued partnership.”

Phillip Superamonien, Betway Country Manager for South Africa, said: “We are delighted to grow our partnership with Playtech into South Africa. Our already successful partnerships in various markets have provided our players with Playtech’s top-tier gaming content and our superior user experience makes this partnership a perfect fit. We are excited to bring Playtech’s renowned casino and live casino products to our South African customers, expanding our existing suite of games to provide new, exciting, and engaging gaming experiences within a safe and secure environment.”

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