British Vs. Nigerian Gambling Industry: Comparison

At first glance, the gambling market of Britain and Nigeria is quite difficult to compare, and there are several reasons for that. First of all, it concerns history: on the territory of Britain, casinos have already existed in various forms for a couple of hundred years. It has influenced the formation of traditions and the acceptance of gambling games in society. Also important is the awareness of the UK population regarding online casinos, access to various self-exclusive tools, and so on. 

The gambling industry in Nigeria has risen relatively recently, with all the ensuing consequences: poor regulation, lack of tools for responsible gambling, and so on. At the same time, currently, this region is experiencing the rapid growth of this business as in Britain. Gamblers can check many new casinos while top gambling companies are entering the market. Below you can find out everything you need to know about the main differences between the British and Nigerian gambling industries.

UK Gambling Industry

Gambling is one of the most successful businesses in Britain. At the time of writing, you can try your luck playing at more than 2,400 online casinos. All of them are top-notch and are regularly checked by reputable certifiers and laboratories. In general, the gambling market in Britain is very client-oriented and cares not only about money but also about the health and quality of life of users with the help of the tools described below.

Regulator (UKGC)

The UKGC, or the United Kingdom Gambling Commission, is one of the most popular regulators in the world that controls the gambling market in the United Kingdom. Its main goal is to issue casino licences and protect the rights of gamblers. If the casino is licensed by the UKGC, it means you can count on 100% fair play, trusted payment methods, no hidden fees, and so on. That is why users try to choose a casino exactly with such a licence.

GamStop National Scheme

The GamStop platform is a perfect tool where gamblers can self-exclude themselves on various periods: 6 months, 1 year, or 5 years. It is absolutely free, so you do not need to make any contributions in order to use its services. After joining the program, your account on casinos will be automatically blocked. Players who still want to play will be able to use casinos that are outside of GamStop as before, but local providers will be locked for them. Plus, you have the option to return the funds you deposited to play games.

KYC/AML for Customers

In British casinos, the practice of providing documents for ID verification is widely used. It is one of the main mechanisms for preventing money laundering (AML). It is also an excellent way to prevent personal or financial information from being stolen and used for fraud.

Nigerian Gambling Industry

Compared to the UK, Nigeria has less developed regulation of the gambling industry. Moreover, there is a lack of mechanisms for self-exclusion. Also, a lot of gamblers do not have access to the tools for self-exclusion. The main reason for this is the lack of resources to cover such a rapidly developing market.

Regulator (Nigerian Lottery Commission)

Currently, all casinos that operate in the country must be licensed by the Nigerian Lottery Commission. Among its tasks are checking the casino’s security and fair play issues. Whatever they learn about the operator is then sent to the National Assembly and also to the President. However, the activity of the commission does not apply to online casinos, the number of which in the country is constantly increasing nowadays.

Online Gambling Is Poorly Regulated

As mentioned above, there is only one regulatory body in the country, and its activity, according to the legislation, does not apply to online casinos. In the conditions of entering the market with a large number of gaming platforms that users can access online, a difficult situation arises: often, players cannot be 100% sure about the reputation of a particular gaming platform. The result can be not only a spoiled gaming experience but also the theft of money or personal information.

Responsible Gambling Tools

The problem with responsible gambling tools in Nigeria is closely related to the previous one. With the rapid growth of the iGaming industry, there should be a universal exclusion program that works for free and is integrated into the majority of local providers. Players cannot effectively protect themselves from gaming activity if they have a gambling addiction. In this case, there are risks of harm both to the financial situation of a person with such a bad habit as well as to his psycho-emotional sphere. An effective solution would be to develop a tool like GamStop that players could use to block their accounts or limit the deposit they spend on gaming.

Conclusion

The main difference between the Nigerian gambling market and the British one is the lack of regulation of casinos that enter the market. This situation is caused by the peculiarities of the legislative base. There is a special Gambling Commission in Nigeria that issues licences and checks the security, however, at the level of a land-based casino. In contrast, British industry has a long history of development. It can boast effective casino control mechanisms (UKGC) and tools to protect users (GamStop, ID verification, and so on).