The Nigerian sports betting market is one of the fastest-growing markets in Africa. It is expected to increase by 20 percent or more over the next five years. Sports betting is legal in all 36 states, and approximately 30 percent of Nigerian citizens place bets on sports daily.
Sports betting is big business in Nigeria with companies from around the world taking bets there. On this page you’ll learn more about the legal climate of sports betting in Nigeria, what types of sports players regularly bet on and how you can start placing bets online.
Nigerian Betting Sites
Over 45 different companies take sports bets from Nigerian citizens and that number is expected to grow in the future. Over ₦1.8 billion ($5 million US) is spent every day on sports betting with nearly 60 million citizens participating daily.
Nigerians are avid sports fans, and this is the most significant contributor to the massive growth. Football is the driving force in sports betting, but bets are placed daily on a wide variety of global sports including Aussie Rules football, tennis, basketball and more.
Those wanting to place bets have a wide array of options for doing so. In addition to making standard bets on individual games, you can set live bets while games are underway. You can also bet on the overall season or tournament winners and virtual sports such as virtual dog racing.
Whether you’re new to sports betting or an experienced bettor, you’ll have no problems placing bets. Sports betting sites include an assortment of tutorials to help you place your bets, and sites are designed to make the process fast, easy and, above all, fun!
If you’re looking to maximize your betting power, you need to take advantage of special offers on Nigerian betting sites. The majority of sites offer some form of welcome bonus that typically pays a matching bonus on your first deposit.
Other deals may include free bets or promotions linked to special events such as the FIFA World Cup or Champions League. Promotions are available on the websites or sent to you via email.
Is Sports Betting Legal in Nigeria?
Sports betting is entirely legal in Nigeria. Nigeria takes a progressive view of sports betting and does not classify it as a game of chance the same way it does casino games. However, the sports betting industry is highly regulated in Nigeria, and only those 18 and older are allowed to play.
Concerning online sports betting, no official laws exist regulating online sportsbooks, but the government has made allowances and has allowed several regulated sites to operate within Nigeria. Furthermore, numerous global sportsbooks are allowed to accept players from Nigeria.
What are Popular Sports to Bet on in Nigeria?
In Nigeria, football is hands down the most popular sport to bet on. Whether players are placing bets on the Nigerian national team in the FIFA World Cup or betting their favorite teams from the English Premier League, La Liga or in the UEFA Champions League, football far outpaces all other sports.
Other popular sports to bet on in Nigeria include cricket, rugby, basketball, Aussie Rules football and boxing. Of course, many Nigerians love to place bets on sports in other countries, such as the NFL in the U.S. If there is a sport to bet on, odds are Nigerians are willing to bet on it.
Do Bettors Have to Pay Taxes on their Winnings?
Yes, bettors in Nigeria must pay taxes on their winnings. Unfortunately, Nigeria has one of the higher tax rates in the world. They charge a flat rate of 20 percent on all gambling winnings regardless of the game played. For example, if you win ₦35,950 ($100 US), then you will have to pay ₦7,190 ($20 US) in taxes.
Make sure you keep meticulous records regarding taxes as sportsbooks often will not deduct taxes from winnings. If you need assistance, we recommend hiring a licensed tax professional to help you with gambling taxes.
How to Make a Deposit at a Sportsbook in Nigeria
Depositing at sportsbooks in Nigeria is easy. After signing up on your preferred site, head to the cashier section to begin.
Sites offer a wide array of payment options. The most commonly used method is credit cards, with most sportsbooks accepting Visa and MasterCard.
If you prefer to pay with an online e-wallet, you’ll have plenty of options as well. Skrill, Neteller and PayPal are among the most popular, but other options such as ecoPayz are also available.
You can also make a deposit using a bank transfer, but you may have to wait up to 48 hours for processing.
When you’re ready to cash out, you’ll be able to do so quickly once your identity verification is completed. In many cases, you will have to cash out using the same account used to make your deposit.
Information on available deposit and withdrawal options is located in the FAQ section of the website, or you can contact customer support.
Mobile Betting Options
Nigerians will be able to quickly place bets on their smartphones or tablets. Depending on the site, you’ll be able to make bets using a dedicated mobile app or directly on the site through your mobile web browser.
In most cases, you will be able to enjoy the same functionality from your mobile device as from your PC or laptop. Make deposits via your mobile and place bets easily with just a few taps or swipes.
Sportsbooks that offer mobile browser compatibility will often provide all of the same features as the PC version. Depending on the site, some sites offering mobile apps may have limited functionality. Details on mobile features can be found on your sportsbook’s website.
