The Director General of Cross Rivers State Lottery and Gaming Agency, Michael Eja, has revealed that out of the total population in the country, an estimated 60 million Nigerians gamble daily.
According to Eja, the gambling industry in Nigeria is thriving, and currently valued between N500bn and N600bn.
He added that despite this, 90 per cent of the potential market remains untapped.
Eja spoke at the launch of a new sports betting platform, Woskybet, in Abuja on Friday.
He said, “The betting industry is worth about $1bn in Africa. Lagos state alone generated $243 million in revenue last year. So, gambling is coming up huge. And people are beginning to understand the essence of gambling.
“In Nigeria, presently, we are doing over N500 to N600bn in revenue. If I am not mistaken, we have over 150 million people in the country. And presently, from the statistics that we have got, we know that about 60 million Nigerians gamble on a daily basis. We’ve not captured 90 percent of that market.”
Eja also highlighted the positive impact of the gambling industry on Nigeria, noting that it contributes to wealth redistribution and job creation.
He said, “The gaming industry sells hope, aids in wealth redistribution, and creates jobs in Nigeria. The government also benefits from the revenue generated by the industry. Over time, we will see an increase in the revenue that the gambling sector contributes to nation-building.”
On his part, the Director of Operations (Interim) for Woskybet, Nurudeen Idrees, emphasized that gambling is a growing industry that contributes to job creation for the country’s youth.
According to Idrees, gambling is a game of luck, where players can either win or lose.
He reassured customers and the general public, saying, “In terms of payment, I want to reassure our customers and the public that they should feel confident. When they win, their money is 100 percent guaranteed because their wins are their rights.”
“Woskybet is committed to providing a safe, secure, and thrilling betting experience for Nigerian sports enthusiasts,” he added.