As we all know, Nigeria is one of the many countries around the world engulfed with the epidemic of online sports betting which includes online poker, casino games, and football (soccer) betting.
But before we go deep into explaining sports betting, there’s a challenge for most people who want to place a bet: how do you know if a sports betting company is genuine, that they will actually pay when you win? that is where www.scams.info comes in, this company is reviewing reputable betting companies and is giving tips on how to avoid the untrustworthy ones
How can sports betting be explained? this is a perfect explanation: The activity of predicting sports results and placing a wager on the outcome. The frequency of sports bet upon varies by culture, with the vast majority of bets in Nigeria being placed football, American football, basketball, baseball, hockey, track cycling, auto racing, mixed martial arts, boxing at both the amateur and professional levels, virtual sports, etc. Sports betting can also extend to non-athletic events, such as reality show contests and political elections, and non-human contests such as horse racing, greyhound racing, and illegal, underground cockfighting.
One can confidently state that the Nigerian sports betting and gaming industry has drastically grown in the last few years among the youths of the country which can be attributed to the large population of the country and the increased and cheap access to internet devices. The practice of online sports betting in the country is legal in all the thirty-six states and the FCT Abuja inclusive.
According to recent data research on betting, Nigerian youths spend over N730 billion yearly on sports betting (especially on football), adding that at least N2 billion is generated on a daily basis.
With over fifty betting sites across the country, over sixty million Nigerian youths spend more than N3000 daily on sports betting.
According to the News Agency of Nigeria (NAN), some of the Nigerian youths made it known that they placed bets to generate quick and easy income, adding that they had to turn their passion for football into cash making by betting.
All forms of gambling and online sports betting are regulated by the National Lottery Regulatory Commission, which was legalized with the National Lottery Act, 2005. It is very important to note that all forms of betting and gambling are restricted to all citizens of Nigeria below the age of 18 years.
In Nigeria, online sports betting is a lucrative business in venture into as over sixty million Nigerians between ages eighteen to forty years old are involved in active sports betting. Online betting stores are spotted almost on every street across the country.
The online sports betting industry in Nigeria has come to stay and while it has also registered tremendous growth in the past few years with hundreds of operators entering into the online betting business.