The Sports betting industry in Nigeria has witnessed tremendous growth lately, as the harsh realities of the economy push millions of unemployed, underemployed and middle-class population into seeking other streams of income.
There are more than 45 betting companies and websites which explains how lucrative and competitive the market is while the industry boasts of over N40billion. Some of the top players in the gaming market are; Nairabet, Merrybet, Bet9ja, Naijabet, Lovingbet, Surebet247, Supabets, 1960bet, Nairastake, Parknbet, 360bet, Sportybet, Plusbet, Skybetnaija, 9jadollarbet, Visabet, Winnersgoldenbet, Bet365naija, Championsbet, Saharabet, Marsleisure, 9japredict, Superiorbet, Betcomplete, Royalbet, UBCbet, Accessbet, Betdey, Betwaynaija, and R&S Bet.
Meanwhile, a recent survey revealed that Nigerians youths ranging from the age of 18 and 40 are increasingly embracing this sports betting, making it the most popular emerging form of gambling in the country.
HOW HUGE IS THE SPORTS BETTING MARKET?
Sport fans especially football who would rather support their teams for free, believe that they can earn money from predicting scores, match results and others and this yeilds a huge return for as many as those that can risk their cash and maximally utilise their abilities to predict alsmost accurately.
Further research revealed that about 60 million Nigerians between the ages 18 and 40 years spend up to N1.8billion on sports betting daily with an average investment of N3, 000 per day.
Consequently, the cotinous growth of the fame of major sporting events like the English Premier League EPL, Laliga, UEFA Champions League UCL, French Lique 1, Italian Serie A, and the German Bundesliga, FIFA World Cup, African Cup of Nations, AFCON, etc. have resulted in the recent general acceptance of the market.
A BET9JA shop operator in Karu, FCT, Mr Chinedu Opara, told Brands & Products that the recession in the country has made the lottery business, particularly that of sports to thrive in the last one year. He explained that people are attracted to the scheme now because they want to multiply or increase the money they have through betting.
“We have experienced more patronage since last year, many people now buy tickets and we have tickets as low as N100. “For example, labourers who get daily pay of 1, 500, will want to play the game of N100 or N200 to make more money for themselves. “Most times, we have up to two hundred customers for a particular game and maybe just two of them stand a chance of winning,” he said.
Opara, however, encouraged more Nigerians to play the game and boost economic development in the country, stating that the game was for all Nigerians irrespective of class or status He stressed that the scheme was interesting, educating and enlightening as many people are now aware of football and the benefits of lottery.
Also, Mr Usman Negedu, Manager, NairaBet said that Nigerians were eager to boost their income these days through sports betting. According to him, the scarcity of money in the country has motivated more people to focus on betting.
“Recession has doubled the amount of subscribers on the betting network; more and more people keep logging onto our websites and registering to bet. “Scarcity of money has made lots of people focus more on betting, and the tickets and internet they use generate money for us’’, he said.
However, Mr Jerry Ubong, a customer, says that the game was a risky one, but most times pay the bills if you are lucky to win, adding that it is a give and take scheme. He noted that the risk was worth taking as the game is cheap and affordable depending on your ability.
HOW TECHNOLOGY FAVOURS BETTING
The availability of mobile phones and data, and internet access has enhanced the sports betting business significantly in the country as more Nigerians have access to internet at a lower cost.
Industry operators believe that as the number of internet subscribers keeps increasing, so will the number of game users, and there may be the need for mergers and acquisitions of fragmented small players in the industry.
“The growing Nigeria’s gaming industry is fragmented, with many small players. As user behaviour changes and spending needs increase, the industry could be forced to consolidate, in line with global trends,” said an industry source.
MARKET SURVEY
A recent market survey reveals that a stiff competition exists between the top 5 market leaders, Nairabet, Bet9ja, Merrybet, Naijabet, Supabets, however, Nairabet appears to have the upper hand; according to a Nigerian sports bet rating site, www.projectnaija.com. it rated the companies based on the following stats: paying power, high odds, bonus on 10 selections and single bettings.
Nairabet: 100% paying, 100% high odds, 35% bonus on 10 selections, single bet allowed, 24hrs withdrawal, customer care response 5 star.minimum stake N50, maximum winning N20, 000, 000.
Nairabet This is the first, oldest, strongest, financially stable and fast paying betting company in Nigeria. Fast paying and good customer support. Offers 100% bonus on first deposit plus bonus on accumulated bets. You can also place bets on a match or games that have already started or still in-play. Nairabet also has the cash out option available for its users, this cash out option reduces the risk of losing bets or stakes as well as increases your winning chances.
Bet9ja 100% paying, 87% high odds, 26% bonus on 10 selections, single bet allowed, 24hrs withdrawal, customer care response 4 stars, minimum stake N100, maximum winning N40, 000, 000.
Bet9ja is the fastest growing sports betting company in Nigeria. Their payout is very fast. They offer 100% bonus on first deposit plus bonus on accumulated bets. You can also place bets on a match or games that have already started or still in-play.Bet9ja also have the cash out option available for its users, this cash out option reduces the risk of losing bets or stakes as well as increases your winning chances.
Merrybet: 100% paying, 84% high odds, 17.8% bonus on 10 selections, single bet allowed, 24hrs withdrawal, customer care response 5 stars, minimum stake N50, maximum winning N10, 000, 000.
Merrybet still remains the fastest paying betting company in Nigeria for online customers who want to play with their laptop or mobile phones. It only takes few hours to withdraw your money from your betting account to your bank account. It takes less than 24hrs to withdraw from your merrybet account to your bank account in fact If you apply for your withdrawal before 8:30 am yo will receive your bank alert same day. 100% bonus on first deposit plus bonus on accumulated bets. You can also place bets on a match or games that have already started or still in-play.
Naijabet: 100% paying, 72% high odds, 9% bonus on 10 selections, 24hrs withdrawal, customer care response 5 star, minimum stake N50, maximum winning N5, 000, 000.
Naijabet is a fast paying betting company in Nigeria for online customers who want to play with their laptop or mobile phones. It only takes few hours to withdraw your money from your betting account to your bank account. 100% bonus on first deposit plus bonus on accumulated bets.
Supabets 100% paying, 70% high odds, 21% bonus on 10 selections, single bet allowed, 24hrs withdrawal, customer care response 5 star, minimum stake N50, maximum winning N10, 000, 000.
Supabets is also a fast paying betting company in Nigeria for online customers who want to play with their laptop or mobile phones. 1960bet odds and bonus is higher than that of Nairabet. It only takes 24 hours to withdraw your money from your betting account to your bank account. 100% bonus on first deposit plus bonus on accumulated bets.
NAIRABET POSITIONS FOR GREATER CHANCES
Despite topping the market by the ratings above, Nigeria’s pioneer sports betting website, Nairabet.com recently launched a new feature that allows customers to edit their bets after they have submitted it.
The sports betting company famous for numerous other innovations including the cash out option that has now been embraced by others told journalists in Lagos that edit the bet option is another innovation from their stable to make life better for their customers.
“We are very excited to add this feature to our website as this is the first of its kind in Africa. This feature is important because there are many times punters make mistakes in their selections or they simply want to change their minds, this feature allows them to do it,” said Akin Alabi. Chief Executive Officer of Nairabet.com.
“For example, let’s say you place a bet on Barcelona to beat Real Madrid and you later discover that both Messi and Suarez are out injured. You can decide to change your choice to a draw or a Real Madrid win or even remove it totally and add new games.”
According to Akin Alabi, this feature is one of the many that will be released by the company in 2018. Some of the others planned are USSD betting, accumulation of different markets under one game and others.
In his interview with City People’s Brands & Products, Mr Alabi revealed that Nairabet understands the stiff competition in the market, therefore, the company will continue to uphold a high level of customer-oriented services to ensure that it retains its top spot in the market and wade off competition.
He also noted the company is doing everything in its power to ensure that such a risky offer to clients is not been abused by some bad elements who are always looking for opportunities to change the system.
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