With the largest African economy and with a population of around 184 million, Nigeria may be leading the way for online gambling on the continent.
At an iGaming conference held in Lagos, it was estimated that across Nigeria, South Africa and Kenya, the online gambling market could be worth $37 billion as soon as 2018, according to a report at Yogonet.com.
The Nigerian online market began in 2013 when its first licensed online site opened, but speakers said the Nigerian government has come to realize that the potential tax revenues from online gaming make proper regulation and control worth implementing.
At the conference, the chief executive of the Lagos State Lottery Board outlined how the board has introduced a licensing system, while the head of FIFA’s Early Warning System discussed how the authorities and operators can work together for the benefit of the industry, the report said.
