The global online sports betting market continues to surge in popularity. It is currently a multi-billion-dollar industry and is one of the fastest-growing markets in the world.
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It offers tremendous potential for both gamblers and bookmakers. The huge popularity of online sports betting can be attributed to the digital revolution that enables bettors to access online bookmakers from computers or mobile devices.
In this article, we’ll look at the online sports betting market in Nigeria, types of bets available to the punters there and different sports betting strategies gamblers can use when wagering.
Online Sports Betting in Nigeria
Gambling on sporting events has long been a favourite past time for many Nigerian gamblers. Statistics show that there are roughly 60 million citizens of the country aged 18 and 40 who are actively involved in sports betting. The proliferation of online gambling and widespread use of mobile phones has been prompted by the rise in internet penetration. Nigerians high unemployment rates, large population and lax laws on sports betting are also factors to thank.
Research data reveals that Nigerians spend more than N730bn a year on sports betting and about two billion naira is generated on a daily basis. Data also shows that more than 60 million people spend over N3,000 daily placing bets. Players say that they gamble to make quick and easy income and turn their passion for sporting events into cash.
The Best Bookmakers for Nigerian Players
Nigerian players have a range of betting sites to choose from. However, not all sportsbooks aimed at them are trustworthy or offer competitive odds. Here are just some of the best online operators to consider.
Bet9ja is the number one gambling site and the second most visited website in Nigeria after Google.com. The site is loved by Nigerian gamblers for a good reason. It is safe and secure as it is licenced by the Lagos State Lotteries Board. The operator also offers an impressive range of markets, fair odds, huge jackpots, secure payment methods and guaranteed payout on all winning bets.
Its pre-match markets cover all leagues and major events with a payout of up to ₦50,000,000 (the highest in Nigeria) on any ticket. There’s also in-play gambling, a feature that allows gamblers to change odds on an event after it has started.
Established in 2006, Betway is sheer sporting and gambling pleasure at its very best. The bookie has a very easy sign-up process, great customer support, and exceptional user-friendly interface. What’s more, it offers an array of bet types, competitive odds, and support across various platforms.
Betway is licenced by the National Government of Nigeria and the Lagos State Government to offer gambling products and services to Nigerian players.
Popular Sports Betting Events
There are so many different sporting events to bet on. Nevertheless, some sports are much preferred by punters than others. In Nigeria, the following are the most popular sporting activities to bet on:
Football is a huge business all around the world and when it comes to sports gambling in Nigeria, it is a huge market. Gambling and football are synonymous in Nigeria and with good reason – the stakes are high and money is plentiful. Additionally, it is easy to find a football-related bet including handicap football and Asian handicap betting at any time.
Predictions and pre-game chats are key in football betting.
Basketball betting is touted as the next big thing for sports gambling. With so many events to bet on – Champions League to NCAA betting and EuroLeague to NBA betting, the prospect of wagering on a championship becomes more enticing to bettors thanks to the hundreds of opportunities, variable outcomes, and competitive odds.
Sportsbook Bonuses & Promotions
1. Sign Up Bonus
Also known as a welcome bonus. The sign-up bonus is a reward to new bettors for choosing a specific operator and also to encourage them to make a deposit and start playing. The bonus adds a certain percentage of bonus money to a player’s first deposit. It may also come with a risk-free bet or an offer where a gambler unlocks portions of the bonus after wagering a certain amount of the bonus funds.
2. Free Bets
A free bet entitles a player to place a bet at the expense of the sports betting site. All a gambler needs to do is select the bet, pay the stake and keep the winning in their bet accounts. Worth mentioning is that free bets come with special requirements attached to them, therefore, gamers should read the terms and conditions before opting for them.
3. Enhanced Odds/ Price Boost
Enhanced odds or price boost are a great way to increase a player’s prize pot, in very much the same way a free bet is. These types of odds are used by bookmakers to attract new gamers by offering them higher odds than usual on a few select events. These odds give gamblers as much as ten times the normal odds which translates to a great profit. Existing members can also take part in price boost or enhanced odds promotions sent by bookies.
4. ACCA Boost
This feature gives punter the opportunity to boost their returns from any of the folds. The more wagering selections a player makes, the bigger the cash bonus added to their potential winnings will be.
The ACCA boost shouldn’t be confused with ACCA insurance. The difference between the two is that the former boosts a player’s returns on the wagering selections made while the latter provides money back as a kind of consolation for coming close to winning a bet.
With the cashback promotion, the amount placed on a lost bet is returned in the form of a free bet. To be eligible for a cashback, a punter should fulfil the conditions provided by the bookie.
Live Streaming and In-play Gambling
In-play gambling, sometimes known as live betting, is the process of making wagers after a game has already started. Here, a player needs to use their intuition and the best in-play betting strategy to get the most of this feature.
Live gambling eliminates the need to study statistics pre-game and puts a player at the heart of the action. Another advantage of this feature in sports betting is that a player can see how the action unfolds before wagering their hard-earned cash. Also, a gamer can place opposing bets based on new information acquired since the game started.
Football fits the mould perfectly but in-play gambling is available on other sporting events such as horse racing, golf, and basketball.
Sports Betting Strategies
Here are the successful betting strategies that will help you maximize your winnings and enjoy your sports betting.
This strategy allows players to get profit by strategically wagering on a game. It involves identifying inefficiencies in the gambling marketplace to make profits. Odds and probabilities on specific games between different bookmakers are different. To successfully use this strategy, a gambler needs to capitalize on the different odds on the same game at two or more bookies.
This is one of the most popular and simplest soccer betting strategies. It involves doubling a bet following a loss until a player wins. The idea behind this strategy is that a punter will regain all previous losses and get a profit equal to the original bet.
Over-under basketball strategy
This sports betting technique takes the average OVER/UNDER scores or points of a team’s recent games and uses the data to find a winnable betting line offered by the operator. It involves looking at a set number of a certain category of games for the teams playing and using the information to find the closest OVER/UNDER lines from the bookie that a punter can take advantage of.
Frequently Asked Questions
This section aims to help players improve their sports betting knowledge.
Is gambling on sporting events legal in Nigeria?
Sports betting in Nigeria is legal and is regulated by the National Lottery Regulatory Commission. While the law does not mention online space, there is no restriction for gamers to play at local or foreign betting sites.
Do Bookmakers accept the Naira?
Yes. Nigerian bookmakers accept deposits and pay the winnings in the country’s currency. The most common currency for sports betting in Nigeria is the Naira.
What is the meaning of parlay in sports betting?
Parlay meaning – Sometimes referred to as accumulators or multipliers, a parlay is a sport bet that combines two or more individual wagers into one bet or “card.” While combining wagers gives punters bad odds of winning, it provides larger rewards for winnings. To win a parlay bet, a gamer needs to win each game on the card.