Data from the National Lottery Trust Fund (NLTF) has revealed that over 65 million Nigerians actively engage in betting, spending an average of $15 daily. This is just as it disclosed that everyday, 14 million bet takes place and payments are made online in the country.<\/p>\n
According to the Executive secretary of NLTF, Bello Maigari, who made this known yesterday at the second edition of the biennial national gaming conference held in Lagos.<\/p>\n
He said Nigerians spend billions of naira and dollars on betting each year, despite economic hardship.<\/p>\n
\u201cCurrently, there are over 65 million Nigerians actively engaging in this activity, spending $15 on average everyday. It is on record, each day, 14 million bet takes and payments are made online in our country.<\/p>\n
\u201cIt is expected to experience an annual growth rate of nearly 10 per cent to reach more than $366 million by 2027,\u201d he said.<\/p>\n
Noting that the online betting sector has seen exponential growth, Maigari said: \u201cAs of my last knowledge update in September 2021, the global online betting market was estimated to be worth over $50 billion, and it has continued to grow significantly since then.<\/p>\n
\u201cIn Nigeria, the online betting sector has seen exponential growth, with millions of citizens engaging in various forms of online gaming and betting.\u201d<\/p>\n
\u201cWith a population of over 200 million people and the largest betting market in Africa, our country is making giant strides in the world of online sports betting,\u201d he stated.<\/p>\n
He therefore called on the Federal Government to create a framework that can encourage the betting industry to contribute taxes in the country.<\/p>\n
\u201cMoreover, leveraging the gaming and betting industry as a tax contributor can help create a level playing field for both local and international operators,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Data from the National Lottery Trust Fund (NLTF) has revealed that over 65 million Nigerians actively engage in betting, spending an average of $15 daily. This is just as it disclosed that everyday, 14 million bet takes place and payments are made online in the country. According to the Executive secretary of NLTF, Bello Maigari, […]<\/p>\n","protected":false},"author":11,"featured_media":4118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-4114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/4114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=4114"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/4114\/revisions"}],"predecessor-version":[{"id":4132,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/4114\/revisions\/4132"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/4118"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=4114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=4114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=4114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}