Betting has become big business in Nigeria. A 2016 report by Klynveld Peat Marwick Goerdeler (KPMG) found that at least one bookmaker was making $10 million a month from local sports bettors.
Three years later, a report by Research and Markets valued the Nigerian sports betting industry at $2 billion and growing. The emergence of online and mobile sports betting is fueling this bullish attitude.
Data shows that over 100 million Nigerians now use the internet. As noted by Statista, Nigeria’s digital transition is happening through mobiles rather than computers. In fact, by 2025, predictions show that 140 million people will be using smartphones in Nigeria.
This digital movement opens up new possibilities. This gives new forms of entertainment a chance to flourish, including online sports betting.
Picking up on popular trends in Europe and North America, Nigeria is emerging as an online betting and gambling nation.
With increasing accessibility, the question becomes: what is available and which companies are leading the way?
Nigeria Betting Sites
There are dozens of online sports betting companies making their way into Nigeria.
Given the emerging status of sports betting in Nigeria, the most popular online brands come from outside Africa. However, this does not mean that there are no local talents.
South African gambling brands such as Emperors Palace and Hollywoodbets are making a name for themselves.
However, when it comes to reputation and excellence on a global scale, European imports currently offer the most action for Nigerian sports bettors.
Nigeria’s Favorite Bookmaker
Two of the best online sports betting sites in Nigeria right now are Betway and 22Bet.
The former has been offering online betting odds and casino games since 2006.
It does most of its business in the UK and Europe, where it sponsors a variety of sporting events, including football and horse racing.
First, as one of Best Nigerian Betting Sites, 22Bet has a commitment to quality. Although it does not have the same mainstream profile as Betway, it is also licensed and regulated.
This means that it is able to offer safe and fair services to people in Europe and, more recently, in Africa.
Anyone who wants to see what this new online sports betting craze is all about can try 22Bet and get bonuses worth up to ₦50,000, competitive odds, and more.
As for Betway, becoming a partner of major racing events, like Cheltenham, and sponsoring football clubs like West Ham, was no accident.
Betway has grown into a multi-billion dollar company that is not only known for offering competitive odds but also safe products.
Why? Because it is licensed and regulated by gambling authorities around the world.
This means that its apps are secured with SSL encryption, player funds are handled securely, and all payouts are guaranteed.
This commitment to safety and quality has earned Betway a reputation for excellence and helped it forge links with sports companies.
Now, from its office in South Africa, Betway’s presence is growing in countries like Nigeria.
How to choose betting sites
Knowing that online sports betting is available is one thing, but choosing the right platform can be tricky if you’ve never been exposed to the industry.
We know that Betway has an international reputation for excellence and that locally 22Bet offers the best service for Nigerians.
However, this could only be our opinion. To validate these assertions, you have to know how to choose the best betting sites.
With that in mind, here are four qualities to consider before betting online:
Every legal online bookmaker offers a welcome bonus. These offers are designed to grab your attention.
For example, 22Bet will give you a 100% first deposit bonus worth up to ₦50,000. This means that your first deposit will be doubled.
These free credits can make bets and win cash prizes. Therefore, it is always important to check the welcome bonus before joining a bookmaker.
Characteristics of bets
All of the best betting apps have added extras. For example, it’s good to see features like live streams, stats, and tips.
Bookmakers that give you these extras, such as Betway and 22Bet, are always worth trying.
Betting before an event is great, but live betting can be even more entertaining.
It’s because you’re making moves in the moment. If you want to bet this way, you need a bookmaker with good software.
This is because the odds are constantly changing and you don’t want there to be glitches slowing things down.
Without sports, there is no sports betting. For this reason, you want a sportsbook to cover a variety of sports. Popular sports such as horse racing and soccer should be the norm. However, it is also good to see things like boxing, cricket and darts.
The more sports a bookmaker covers, the better. If you can find sportsbooks like Betway and 22Bet that achieve these goals, you will soon understand why online sports betting is becoming popular in Nigeria.