The Growth of Sports Betting in Nigeria: Trends and Market Size
The Nigerian sports betting industry has experienced remarkable growth over the past decade, emerging as one of the most dynamic markets in Africa. This expansion is driven by technological advancements, a youthful population, and a deep-rooted passion for sports, particularly football.
Market Size and Growth
Sports Betting in Nigeria: Trends and Market Size
As of 2025, the Nigerian gambling market is projected to reach a revenue of approximately $3.63 billion, with an expected annual growth rate (CAGR) of 3.65% from 2025 to 2029 (Statista). This growth aligns with broader trends across the African continent, where the gambling market is anticipated to reach a valuation of nearly $11.27 billion by 2032, growing at a CAGR of 7.06% (GlobeNewswire).
In Nigeria, over 65 million adults engage in betting activities, highlighting the sector’s extensive reach and popularity (Vanguard). A survey conducted in 2022 revealed that 51.7% of Nigerians participated in sports betting within the past year, with 92.8% of these bettors placing wagers primarily through online platforms or mobile applications (TGM Research).
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Technological Advancements and Market Dynamics
The proliferation of smartphones and increased internet accessibility have been pivotal in transforming sports betting into a mainstream activity in Nigeria. The convenience of online platforms has attracted a diverse demographic, making betting more accessible than ever before. This technological shift has also intensified competition among operators, leading to innovative offerings and enhanced user experiences (iGaming Business).
Top 10 Sports Betting Brands in Nigeria
The Nigerian market hosts a variety of sports betting operators, each contributing uniquely to the competitive landscape:
- Bet9ja – Established in 2013, Bet9ja is renowned for its extensive market options and competitive odds (Wikipedia).
- 1xBet – A global entity offering a vast array of betting options (BetBlazers).
- BetKing – Launched in 2018, BetKing offers both online and retail betting services (Wikipedia).
- NairaBet – A pioneer since 2009, NairaBet offers a variety of sports betting options (Wikipedia).
- SportyBet – Known for its user-friendly interface and competitive odds (Wikipedia).
- Betway Nigeria – An international betting company that has gained significant traction in Nigeria (Wikipedia).
- MerryBet – Another major player with a strong online presence (Wikipedia).
- Betland – Founded in 2014, Betland operates in Nigeria and Ghana (Wikipedia).
- MSport – Recognized for its diverse betting options (The Nation).
- Waddibet – Launched in 2025, Waddibet entered the Nigerian market in partnership with Channels Media Group and Soft2Bet (Yogonet).
Impact on the Competitive Market
The entry of new operators like Waddibet intensifies competition, prompting existing brands to innovate and enhance their offerings. This competitive environment benefits consumers through improved services, diverse betting options, and more attractive promotional offers. Additionally, partnerships between local media entities and international tech firms, as seen with Waddibet, signify a trend towards collaborative ventures aiming to capture and expand market share.
Regulatory Environment
The Nigerian sports betting industry is regulated by both federal and state authorities. The National Lottery Regulatory Commission (NLRC) oversees national operations, while state bodies like the Lagos State Lotteries Board (LSLB) regulate activities within their jurisdictions. Operators are required to obtain appropriate licenses to ensure compliance and consumer protection (Wikipedia).
Future Outlook
The Nigerian sports betting industry is poised for continued growth, driven by technological innovation, strategic partnerships, and a robust regulatory framework. As operators adapt to evolving consumer preferences and leverage emerging technologies, the market is expected to offer increasingly sophisticated and engaging betting experiences.
