Are you looking to invest in the very lucrative sports betting industry but put off by the huge financial implications from the stringent licencing requirements of the National Lottery Regulatory Commission (NLRC)? Why not consider getting an offshore gambling license from Malta?

I am a Nigerian resident in Valletta, the Capital of Malta.I am a webmaster specialising in the building of sports betting websites, I have also secured gambling licenses from the Maltese authorities for more than 15 clients from India, the United States, Canada, the UK and Australia.

Now how does getting a license from the National Lottery Regulatory Commission (NLRC) or Lagos State Lottery Board (LSLB) compared with getting an offshore license from Malta?

The Lagos State Lottery Board stipulates that the share capital for lottery businesses must be a minimum of 20 million naira, the License fee for the first year is 50 million naira and 10 million naira for subsequent years. The implication of these license requirements means your financial obligations in the first year of your sports betting business comes to about 70 million naira, add the cost of building your website, paying your staff in your first year and you will need to have a startup capital of 100 million naira.

Getting a gambling license in Malta costs 11 million naira, there are no requirements for share capitals, renewing your license for subsequent years costs 600,000 naira.
The biggest advantage of getting a gambling license from Malta over getting one from the Nigerian government or the Lagos state government is that, a license from Malta will make you eligible to receive payments from customers all over the world while a license from the NLRC or LSLB only allows you to run your sports betting website within Nigeria.

The total cost of a gaming license from Malta is 11 million naira in your first year compared to almost 100 million naira for a gaming license from Nigeria, with the gaming license from Malta also having the advantage of you being able to have a license that helps you conduct business internationally compared to a Nigerian license.

If you will like to build a sports betting website, send me a private message for a quote.