Shocking 60 Million Nigerians Gamble Daily: Lottery Boss Unveils Booming Industry
Newsroom
- 60 million Nigerians gamble daily, with the gambling industry in Nigeria valued between N500 billion and N600 billion, according to Michael Eja, Director General of the Cross River Lottery and Gaming Agency.
- Despite the rapid growth, 90% of the potential market remains untapped, with Lagos State generating $243 million in revenue from gambling last year.
- Woskybet’s Director of Operations, Nurudeen Idrees, assured customers of 100% guaranteed payments on winnings, emphasising the platform’s commitment to providing a safe and secure betting experience.
Shocking 60 Million Nigerians Gamble Daily: Lottery Boss Unveils Booming Industry
Michael Eja, the Director General of the Cross River Lottery and Gaming Agency, has revealed that approximately 60 million Nigerians participate in gambling activities every day.
He made this announcement during the launch of a new sports betting platform, Woskybet, in Abuja. Eja highlighted the impressive growth of Nigeria’s gambling industry, estimating its value at between N500 billion and N600 billion.
Despite this rapid expansion, he noted that 90 percent of the market remains untapped. Eja pointed out that Lagos State alone generated a staggering $243 million in revenue last year.
“The betting industry is worth about $1 billion in Africa. Gambling is becoming increasingly popular, and more people are beginning to understand its essence,” he stated.
Eja emphasised that the gambling sector contributes significantly to wealth redistribution, job creation, and government revenue. “The gaming industry sells hope, aids in wealth redistribution, and creates jobs in Nigeria. Over time, we will see an increase in the revenue that the gambling sector contributes to nation-building,” he said.
Nurudeen Idrees, the Director of Operations for Woskybet, described gambling as a game of luck, acknowledging the potential for both wins and losses. He reassured customers regarding the security of their winnings, stating, “In terms of payment, I want to reassure our customers and the public that their money is 100% guaranteed when they win, as their wins are their rights.”
Idrees also expressed Woskybet’s commitment to delivering a safe, secure, and thrilling betting experience for sports enthusiasts in Nigeria.
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