The gambling industry in Nigeria is thriving, with an estimated 60 million Nigerians gambling daily, according to the Director General of Cross Rivers State Lottery and Gaming Agency, Michael Eja.
The industry is currently valued between N500bn and N600bn, with Lagos state generating $243 million in revenue last year.
Eja highlighted the positive impact of the industry on Nigeria, noting that it contributes to wealth redistribution and job creation.
“The gaming industry sells hope, aids in wealth redistribution, and creates jobs in Nigeria. The government also benefits from the revenue generated by the industry,” he said.
However, Eja noted that 90 percent of the potential market remains untapped. “We’ve not captured 90 percent of that market,” he said.
The launch of a new sports betting platform, Woskybet, in Abuja on Friday, is expected to further boost the industry.
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The Director of Operations (Interim) for Woskybet, Nurudeen Idrees, emphasized that gambling is a growing industry that contributes to job creation for the country’s youth.
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Idrees reassured customers and the general public that Woskybet is committed to providing a safe, secure, and thrilling betting experience for Nigerian sports enthusiasts.
“In terms of payment, I want to reassure our customers and the public that they should feel confident. When they win, their money is 100 percent guaranteed because their wins are their rights,” he said.
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