In the last couple of years, there has been a trend toward an increase in the number of gamblers in Nigeria. Moreover, both young and older people are involved in this trend – to the point when they could benefit from self-exclusion. It is noteworthy that for a long time, online games were exclusively a source of entertainment in this region. However, it turned out that the gaming industry can also give serious profit for every person who is keen on different games.
Unlike the surrounding regions, where the iGaming industry has already developed for many years (mainly the west and southeast of Asia), Nigeria has been lagging behind, and only recently this country confidently entered this market. In this review, you will be able to learn about the main factors that cause and explain the growth of the Nigerian gaming market. These factors can also help you understand how this trend will be developed in the future.
What Makes Nigeria’s iGaming Industry Skyrocket?
When it comes to analysing such a complex entity as a whole gambling industry of a country, it may be difficult to choose which factors to focus on. Still, below we listed several important reasons that have been causing, in our opinion, the rise of gambling popularity in Nigeria throughout recent years.
Wide Variety of Games to Play
The main reason for this situation is the variety of titles and genres that people can find in the market. Sometimes their number is so large that some players get lost, especially if they are newcomers with no experience in the gaming industry. Here you can find thousands of top slots with super graphics and amazing sound effects, different variants of poker, blackjack, baccarat, roulette, and much more.
In addition, gamblers can choose to play against the computer or try their luck against the live dealer. In this regard, the issue of trust in the gaming platform comes first. Because of this, it would be wise to look for the best place to play. To do this, you can check the data from reputable reviewers or directly from gamblers who have channels on various streaming and other platforms.
The Lack of Responsible Gambling Tools Like GamStop
Currently, almost all gamblers in Nigeria are not limited in their ability to play on any online casino and other platforms. The reason lies in the legal peculiarities of the region. The fact is that at the moment, there are no effective tools with the help of which players could self-exclude from the gameplay, set up blocking of gambling content, limit the amount of deposit that they could spend on games during the day, week, month, and so on. First of all, this applies to such a well-known resource as GamStop. At the moment, its capabilities do not apply to the territory of Nigeria. Besides, there is a list of casinos not on GamStop that allow players to bypass self-exclusion restrictions. On the one hand, it leads to an increase in the number of players. On the other hand, there is also a negative impact, which primarily concerns users with gambling addiction.
The Increasing Number of Nigerian Internet Users
The number of active Internet users in Nigeria is growing rapidly. This, in turn, gives them more opportunities for free access to games and various platforms. At the time of writing, about 36% of Nigerians have permanent access to the Internet. Compared to other countries, this may not seem like a very impressive percentage.
But if you look at how this trend has changed over the past twenty years, it becomes clear why this process will only gain momentum. For example, in 2000, about 0.1% of Nigerians had access to the Internet, while in 2020, this number already grew to 35.5%. According to Statista, by 2027, there will be about 118 million Internet users in Nigeria. This is a fairly large number that will surely lead to an influx of capital from overseas investors into the gaming industry.
International Gambling Companies Entering the Local Market
Given the growing pool of active users and potentially favourable conditions for business development, numerous gambling companies are striving to enter the Nigerian market as early as possible. First of all, it allows them to quickly get used to more favourable conditions when the competition is not yet too tough. It is quite clear that in the near future, the number of such companies will increase significantly, and their competition will be much more severe than today.
Rising of Gambling Industry in Nigeria: The Bottom Line
Nigeria is one of those countries in which the gambling revolution did not come immediately, and there are several factors causing the rise of iGaming here. First of all, this was due to the technical features and the spread of a stable Internet in the region. However, with the situation changing, there is also an ever-increasing number of active players who are involved in a wide variety of games: from slots to poker and various lotteries.
Along with that, there is an increase in top gambling companies that enter the market and occupy their niche, attract players with various bonuses, and so on. It is likely that with the current level of development of Internet technologies and the increasing accessibility, the Nigerian gambling industry will continue to grow in the future.