Nigeria is one of the most exciting emerging global online gambling markets. It boasts a youthful population that H2 Gambling Capital forecasts to lead it to GGR or gross gaming revenue. This amounts to €675.1 million or £576.8 million or $717.2 million by year 2025. However, despite of an ongoing legal battle over regulation, it is still achieving its success.
A hugely youthful population has been revealed by looking closer at Nigeria’s data. This includes figures from the World Factbook outlining that approximately 41% of people in the country are aged between 14 and under. The average age of a person in Nigeria is just 19 years old.
It’s clear to see why there is excitement over how Nigerian gambling can grow with its population to challenge South Africa at the top of the African industry. Taking those demographics aspects into account made it clear.
Nigeria’s gambling market has gone from having largely just local operators to now seeing some international brands making an entry. These brands include Betano and Betway. This is due to the country’s youthful population that has a strong interest in sports.
Olabimpe Akingba is a legal practitioner with over a decade of experience in gaming. She serves as the executive secretary of the Association of Nigerian Bookmakers between January 2020 and February 2024.
She is excited by the growth of the Nigerian gambling market, most specifically in the online space. In here, there is an increase in internet penetration in previous times have provided a big boost.
Akingba beleives Nigerian gambling will continue on its upwards trajectory. She said that they know that in Nigeria, the gaming industry continues to have huge potential. The growth of technology has contributed immensely to the development of the Nigeria gaming market. Now they see a lot of competition in the igaming space, which has also shaped the industry.
