When it comes to the economy in the African Continent, Nigeria is always there. It's actually the nation with the largest economy on the entire continent and the world's 12th largest producer of petroleum. The overall Nigerian economy looks attractive, which is what explains why foreign investors decide to place their financial efforts in Nigerian companies or national infrastructures.

Gambling - One Of Nigeria's Biggest Economic Engines

One of the most flourishing sides of Nigeria's economy is represented by gambling. Probably, the close relationship between gambling and Nigerian people is popular overseas, as well. Just to give you a couple of numbers, consider that Nigeria's gambling segment results in about 60 million USD by 2018 and, what's more, it's expected to continue growing in the future.

We may figure out gambling in Nigeria as a sort of engine that keeps the entire economy system work. It mainly encompasses gambling activities in the fields of sports betting, lotteries, and land-based casinos, but there are also minor forms of gambling diffused in the country.

The Growth Of Digital Gambling

Another relevant fact that deserves a special mention here is online gambling. This recent addition in the traditionally large gambling pool in Nigeria is developing pretty quickly, especially during the latest years. You can today bet on soccer online in all safety and freedom on specialized sites. Africa Casinos emerges as one of the most popular among Nigerian users, including both sports and casino gamblers. The best side of joining one of the virtual venues at Africa Casinos is that you can play safely as every venue is verified, licensed, and compliant with the international gambling requirements. When you decide to join a digital casino or a sports betting site, security comes first. That's why you should always trust gambling-dedicated sites that guide you to the most trustworthy digital casinos or sports venues.

Land-Based Gambling Allowed In Nigeria

Not every gambling-related activity is allowed in Nigeria, not differently than anywhere else. While certain categories of gambling are allowed, others may still hide financial scams for the gamblers.

As you may already know, Nigeria accepts three categories of gambling: land-based casinos, sports betting, and lotteries (oftentimes organized for charity purposes). Most of the gambling segment takes place in the real world:

1. Land-based casinos

This is the most "classic" form of gambling all over the world and Nigeria isn't an exception to the rule. However, only three land-based casinos are currently allowed to operate in the country. In particular, we refer to the "Transcorp Hilton" in Abuja, the "federal Palace Hotel and Casino", and "Le Meridien Eko Hotel & Casino" in Lagos. It may sound weird, but only these three venues are legally allowed in a country as large as Nigeria. And although they are open to both foreigners and locals, it seems that they are more catered to foreign tourists. All three casinos are smaller than the average western casinos and the games you can play there include table games (blackjack, poker, roulette), while slots are considered an exception in licensed casinos.

2. Sports betting pools

According to Nigeria's laws, all operators of betting pools or facilities have to use a totalisator to place bets and calculate winnings equally for the winners. Every financial operation processed in Nigerian betting pools or facilities is registered to be deemed legal and finally permitted. However, it's not rare to hear stories about illegal operators who faced legal issues and prison.

3. Lotteries

Any sale of tickets printed with a series of numbers drawn in a game with prizes is part of the category of lottos and lotteries. These activities are open to the public and are usually organized to raise funds for charity needs - if this is the case, the sale can happen directly between the lottery operators and the public, but the buyers can't sell the tickets to a third party. The main entity that releases lottery licenses is the Lagos State Lotteries Board, which is Nigeria's biggest lottery regulator for lotteries, games of chance, promotions, scratch cards, and any other similar game.

4. Online gambling and betting

Nigeria's laws condemn anyone who is caught running an online casino site, but surprisingly nearly nothing is done to the players, which encourages Nigerians to join virtual gambling sites that are overseas-owned. Sports betting is a truly big business thanks to the government's allowances. Nigeria is actually Africa's country number one for its high number of successful sports betting websites. It's interesting to outline that many registered members are based outside Nigeria, although Nigerian sites are catered to the sports tastes of Nigerian average sports followers. Also, you can process any payment and withdrawal in the local currency Naira

We may veritably say that the internet is going to be the future of gambling not only in Nigeria but worldwide, as well. The rapid growth of online betting and casino-dedicated sites shows it all.