Africa
Nigeria’s Gambling Growth Insider
Without a doubt, when you hear about Nigeria, gambling is not the first thing that comes to your mind. Nevertheless, it appears that the country’s gambling industry is growing rapidly and it is estimated that in the next five years, Nigeria will become one of the fastest-growing African countries in terms of gambling.
Apparently, in Nigeria you can indulge on all kinds of betting, from the upcoming national lottery, through sports betting, to casino gambling, where you can play table games or you can choose between classic, video and progressive slots machines.
The multinational professional services firm PricewaterhouseCoopers (PwC) recently published a report titled “Gambling Outlook 2013-2017” and it did not focus on Nigeria exclusively, but also analyzed gambling data from South Africa and Kenya. The report features data from various gambling options in South Africa – LMPs, sports betting, bingo, as well as the national lottery are taken into. Still, for Kenya and Nigeria, the report reveals statistics from casino gambling only.
As stated by PwC, Nigeria’s gross gambling revenues will increase by 16 per cent in the course of the next five years. What is more, Nigeria is to launch a nationwide lottery titled Quick Lotto, and former chairman of the Senate Committee on Capital Market Ayo Arise believes that the launch will generate employment and tax revenues.
Arise has collected data from various countries which have a national lottery and believes that for most countries the lottery is but a means to make the community more prosperous. In this respect, he states that Nigeria does not intend to behave differently. Arise has stated that 20 percent of the profits from the lottery are distributed to the Federal Government which uses the money for good causes, “for the advancement and progress of this nation,” says Arise.
Fortunately, as we already said, Nigeria has other betting options and people do not need to wait for the lottery to launch in order to gamble. In fact, one of the most popular means of gambling here is sports betting.
Many betting companies have benefited from the football enthusiasm all across the continent, designing and deploying betting platforms every day. Fans can stake small bets and win big amounts of money, and this strategy makes sports bets incredibly popular among locals, both young and old.
As a matter of fact sports betting has become popular during the last decade. According to a KPMG report on Gambling in Africa, about 60 million Nigerians adults (18-40 years old) are into active sports betting. The common player would spend about 3,000 Naira (nearly $15) on sports betting. Proportionately, nearly 2 billion Naira is laid out on sports betting in Nigeria every day, which turns into nearly 730 billion Naira for a year. No wonder why betting shops can be spotted on almost every corner in Lagos and each day, new betting places set up shop.
The strategy of betting a small amount of money with the chance to score something big seems to be increasingly popular among young people. A poll revealed that Nigerians bet on football games every day not only because it is a way to make quick money, but also because it distracts people from high unemployment rates.
According to 2016 data, youth unemployment rates in Nigeria increased from 25 percent in the third quarter of the year to 25.20 percent in the fourth quarter of 2016. By comparison, the numbers averaged 19.20 percent between 2014 and 2016.
Nigeria has a good casino gambling business, too. What is more, the casino industry is expected to grow and turn into one of the continent’s largest casino industries in the following years. The bad thing about casino gambling in Nigeria is the fact that the system is largely unregulated and there are not enough licensed gambling venues.
The two gambling cities in Nigeria, i.e, the cities with a legal gambling facilities are Abuja and Lagos. Lagos is the largest gambling city in the country and it has 1 gambling facility, 10 table games, as well as 106 games, slots, and even video poker machines. However, games such as roulettes and coin flipping are prohibited in Nigeria.
Despite the fact that the physical casinos in Nigeria are but three, the on-line casino industry has shown rapid growth, ever since the first on-line casino was licensed in the country in 2013. Actually, gambling was banned across the country until 2004, but then the first officially sanctioned on-line lottery was launched (incidentally, that is also the time when the country’s casinos opened, too).
The year 2013 saw the establishment of the country’s first on-line casino. Initially, the casino featured only Roulette games. The market rapidly expanded and now Nigerians can access a wide range of international and sports casinos operators. Nevertheless, the country is still very strict on the topic and allows citizens to visit approved sites only.
Experts expect the on-line gambling industry in South Africa, Kenya and Nigeria to reach $37 billion this year and this has made the government to realise that the potential tax revenues from such an expansive business require proper regulation and should not be turned a blind eye on.
Nigerian authorities think that the strong regulation of the market will actually attract more people to on-line gambling sites and it will even help reduce corruption and criminal behaviour among the population.
Government has been trying to set new regulating laws and make gambling profitable for the country as early as 2014, but with little success. New licensing systems are needed, according to Lagos State Lottery Board, and FIFA’s Early Warning System believes that both operators and the government can benefit from one another, all they need to do is work hand in hand.
Africa
KingMakers’ Nigerian operating business, BetKing, selects Genius Sports to power growth with in-play trading services
New partnership sees KingMakers’ BetKing business benefit from Genius Sports’ leading portfolio of in-play content in Nigeria, including football, tennis and basketball
Genius Sports Limited has today announced a new agreement to supply KingMakers, one of the fastest-growing group of betting operators in Africa, with a range of in-play trading services.
The deal sees BetKing power its live betting product with ultra-fast venue content for the Premier League, La Liga, Serie A, Ligue 1, Bundesliga, English Football League, FIBA basketball and every other major European and South American football league.
Genius Sports will also provide BetKing with its market-leading trading services which include modelled odds feeds for major football competitions.
With in-play sports betting growing rapidly across Africa, fast and accurate odds are vital to maximising revenues by increasing the availability of betting markets.
Tim Smeets, Trading Director at Kingmakers said “We’re thrilled to announce our new partnership with Genius Sports. Their trusted trading solutions, including low-latency in-play content on crucial football leagues like the Premier League, will enable us to offer market-leading betting experiences for BetKing users in Nigeria.”
Will Westcott, Head of Business Development at Genius Sports said “Every year, we continue to invest in delivering the highest-quality trading services for the African market. With the value of in-play betting growing across Africa, we’re excited to help BetKing execute its online sports betting vision in Nigeria, by providing it with the fastest, most reliable live content on the market for major sports.”
Africa
‘Supa’ Celebration as Hacksaw Gaming Takes First Steps into South African Market with Supabets
After nearly a year in making, both Hacksaw Gaming and Supabets are reaping the rewards of their partnership this week! As of the 30th March 2024, Supabets’ players now have access to a plethora of Hacksaw games at their fingertips, and their platform currently stands as the only place players can access our games in South Africa.
The South African market has been on our radar for a while now, but like all good things, this partnership took time, refinery and hard work from both parties. A relatively new market to our expanding industry, but with the potential to be one of the most lucrative we’ve seen in a while. Needless to say, we are thrilled to now be a part of it!
Household Hacksaw names such as Chaos Crew, Wanted Dead or a Wild and The Bowery Boys are now available for Supabet users, and we’re ‘supa’ excited for South African players to immerse themselves in the true Hacksaw experience for the first time ever. But we’re not stopping there. As a homage to this new partnership, we’re planning on increasing our portfolio to over 30 of our games by August, and there are even whispers of game exclusives for South Africa in the future.
Supabets, founded for the people, have been at the forefront of promoting innovative and dynamic experiences for their customers since 2008. Head of Product at Supabet, Bavu Mpama, couldn’t contain his excitement on this recent launch – “What a ride it’s been trying to make this all possible, with the help of the Hacksaw team we are now able to launch one of the best providers in the market at Supabets. It’s been incredible to see the growth of the iGaming industry in South Africa. It’s a huge moment for Supabets, our customers and the iGaming industry in South Africa. We cannot wait!”
“It’s a thrilling expansion into a new region for Hacksaw Gaming, one that I’m confident will see mutual growth of both Hacksaw and Supabets.” Marcus Cordes, CEO of Hacksaw Gaming stated that “as always, our focus remains on delivering the Hacksaw quality we’re known for. Supplying unique and innovative content that is not only visually stunning, but provides players with inventive mechanics that they know and love us for.”
Looking towards that stunning South African horizon, we’re certain that this is just the beginning of what we can provide to this new region of Hacksaw Gaming enthusiasts.
Africa
ESA Gaming adds to Africa presence with multi-country Betway deal
ESA Gaming, the innovative games provider, has signed a significant commercial deal with leading global online betting and gaming brand Betway, to bolster its reach across the African continent.
The agreement will see an initial tranche of top-performing content, including Mine and Crash games, go live across key targeted markets, such as Tanzania, Nigeria, Mozambique, Zambia, and Malawi.
The tie-up with the Super Group-owned brand has significantly boosted ESA Gaming’s footprint in Africa.
The continent has emerged as a key target for the provider, with its array of light-weight games proving extremely popular in markets where mobile connectivity speeds may vary wildly.
Thomas Smallwood, Chief Commercial Officer at ESA Gaming, said: “Betway is a brand with a large global presence, and we’re delighted to expand across Africa with this latest partnership.
“Our products have been immensely well received across the continent and we look forward to bringing our games to Betway’s player base.”
Laurence Michel, CEO of Betway in Africa, said: “ESA Gaming’s mobile-friendly portfolio continues to resonate well with players across the continent, and we’re very pleased to launch their top-performing titles to our customers in five of our key markets in Africa, further enhancing our offering with unique and popular content that we know our customers will enjoy the experience of playing.”
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