We have compiled some of Nigeria’s most interesting statistics and facts. Gambling takes many forms and styles in Nigeria and other African countries. Whereas football betting is the most popular type of gambling among African teens, there are other sports to mention. These are some general statistics about the Nigeria betting industry that we think you should know.
Sports betting is popular among 70 million Nigerians aged 18 to 40
These 60 million Nigerians, according to reports, bet on average N3,000 every day. 77% of betting Nigerians say betting and gambling are common in their communities. South-West geopolitics account for 95% of these people, while South-South accounts for 91%. Northwest Zone has the lowest gambling prevalence, with only 57% of gamblers hailing from here.
A whopping 36% of gamblers admit to betting themselves or having family members who do so. 55% bet every day, 63% bet once or twice a month, and 9% have never won a bet.
Men bet at a higher rate than women
This is because men are normally more passionate about sports and are more likely to take risks when betting on sports. Men bet more than women in 2021 and will do so again in 2022.
Despite the fact that males gamble on sports more than women, female gambling has increased throughout time. Females account for 10.6% of Nigerian internet bettors, with their participation rising year after year.
The sports betting industry in Nigeria is projected to be worth over $750 billion dollars
It is estimated that each bettor spends N3,000 per day on sports betting. Although Nigeria only has three licensed casinos in 2021, the casino gaming industry is expected to bring in roughly $70 million. According to a market study conducted in 2018, Nigeria, Kenya, and South Africa had a combined sports betting market of almost $50 billion.
40% of Nigerians gamble to make money fast
According to a 2019 NOI Poll survey of gamblers, 30% of the bet is for quick cash. Although the number has increased over time, the explanation has remained mostly unchanged. Nigeria has an unemployment rate of at least 7.8%, which is why 25% of gamblers say it is the reason they gamble on casino games.
People gambled the most in 2021 because of money, and the same pattern was replicated in 2022. 85% of people bet to increase their wealth.
Nigerians are using the internet at a rate of up to 60%, thanks to lower PC and mobile phone expenses. Another factor for gambling’s prevalence in Nigeria is that more Nigerians have access to internet betting and gambling.
Most Nigerians regard gambling as a harmless pastime, which explains why 40% of people have gambled and 54% gamble on a daily basis.
Sports betting is the most common type of gambling in Nigeria, but casino games are rising in popularity as more players discover high-quality slots on foreign platforms. As online betting legalization becomes more lax and specialized online gambling rules are implemented, the Nigerian gambling segment is forecast to thrive.