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5 Reasons Online Gambling Is On the Rise In Nigeria

5 Reasons Online Gambling is On the Rise in Nigeria
Nigeria, as Africa's largest and one of its fastest-growing economies, is becoming a hotbed for emerging consumer trends.
The country already has some of the most dynamic tech, fashion, entertainment, and green energy sectors on the continent, putting Nigeria on course to become Africa's economic powerhouse in the years ahead.
One major phenomenon that has gone on almost unnoticed is the rise of online gambling in Nigeria. To date, around 60 million Nigerians, or close to a third of the population, take part in betting in some form. This puts Nigeria well ahead of other African countries when it comes to gambling. Let's take a close look at why online gambling, in particular, is on the rise in Nigeria. 

• A Favorable Regulatory Landscape

One of the most important factors for the rise of online casino gaming in Nigeria is its favorable regulatory landscape. Unlike many other African countries, Nigeria does not prohibit online gambling with both local and international operators. This means that Nigerians are free to access online casinos from anywhere in the world, providing that those platforms operate legitimately. This liberal approach to gambling legislation has proven a major factor in the rise of online betting in the country. 

• Increasing Mobile Phone Penetration

Nigeria has one of the highest levels of smartphone penetration in Africa. Since the majority of online real-money casino gaming now takes place on mobile devices, this is certainly conducive to the rise of online casino gaming. As of 2020, there are now 172 million mobile phone users in Nigeria, equivalent to more than 80% of the entire population and on par with countries such as Germany, Japan, and the UK. Such numbers help explain why online casino gaming in Nigeria is catching up with levels seen in other countries that have a longer history of online gambling. 

• Rising Bandwidths 

Many of the most popular and advanced online casino games these days tend to be hungry for bandwidth. Some of the most popular roulette casino games online include live casino games, in which players from around the world can interact with real-life roulette dealers via a live-stream. 
Such gaming experiences require significant bandwidth to run smoothly, which Nigeria has in spades. Both internet penetration and bandwidth capacities in Nigeria are among the highest in Africa and growing exponentially at double-digit rates. 

• Rising Incomes 

Typically, countries with high levels of real-money gaming enthusiasts also happen to be countries with higher incomes.
In Nigeria, real incomes over the past decade have risen faster than almost any other African country, with an estimated 18% of the population now earning more than $10,000 a year, a figure that McKinsey expects to rise significantly in the years ahead. Higher salaries mean greater levels of disposable income, which means that more Nigerians will be willing to spend money on entertainment services such as online casino gaming.
These are the key trends that help to explain the ongoing rise of online casino gaming in Nigeria. Whether this will change in the future remains to be seen, but current figures suggest that Nigeria will continue on its path towards becoming a country with a strong market for online real money gaming. 

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