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Nigeria’s Gambling Growth Insider

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Lagos-1 Nigeria’s Gambling Growth InsiderReading Time: 4 minutes

Without a doubt, when you hear about Nigeria, gambling is not the first thing that comes to your mind. Nevertheless, it appears that the country’s gambling industry is growing rapidly and it is estimated that in the next five years, Nigeria will become one of the fastest-growing African countries in terms of gambling.

Apparently, in Nigeria you can indulge on all kinds of betting, from the upcoming national lottery, through sports betting, to casino gambling, where you can play table games or you can choose between classic, video and progressive slots machines.

The multinational professional services firm PricewaterhouseCoopers (PwC) recently published a report titled “Gambling Outlook 2013-2017” and it did not focus on Nigeria exclusively, but also analyzed gambling data from South Africa and Kenya. The report features data from various gambling options in South Africa –  LMPs, sports betting, bingo, as well as the national lottery are taken into. Still, for Kenya and Nigeria, the report reveals statistics from casino gambling only.

As stated by PwC, Nigeria’s gross gambling revenues will increase by 16 per cent in the course of the next five years. What is more, Nigeria is to launch a nationwide lottery titled Quick Lotto, and former chairman of the Senate Committee on Capital Market Ayo Arise believes that the launch will generate employment and tax revenues.

Arise has collected data from various countries which have a national lottery and believes that for most countries the lottery is but a means to make the community more prosperous. In this respect, he states that Nigeria does not intend to behave differently. Arise  has stated that 20 percent of the profits from the lottery are distributed to the Federal Government which uses the money for good causes, “for the advancement and progress of this nation,” says Arise.

Fortunately, as we already said, Nigeria has other betting options and people do not need to wait for the lottery to launch in order to gamble. In fact, one of the most popular means of gambling here is sports betting.

Many betting companies have benefited from the football enthusiasm all across the continent, designing and deploying betting platforms every day. Fans can stake small bets and win big amounts of money, and this strategy makes sports bets incredibly popular among locals, both young and old.

As a matter of fact sports betting has become popular during the last decade. According to a KPMG report on Gambling in Africa, about 60 million Nigerians adults (18-40 years old) are into active sports betting. The common player would spend about 3,000 Naira (nearly $15) on sports betting. Proportionately, nearly 2 billion Naira is laid out on sports betting in Nigeria every day, which turns into nearly 730 billion Naira for a year. No wonder why betting shops can be spotted on almost every corner in Lagos and each day, new betting places set up shop.

The strategy of betting a small amount of money with the chance to score something big seems to be increasingly popular among young people. A poll revealed that Nigerians bet on football games every day not only because it is a way to make quick money, but also because it distracts people from high unemployment rates.

According to 2016 data, youth unemployment rates in Nigeria increased from 25 percent in the third quarter of the year to 25.20 percent in the fourth quarter of 2016. By comparison, the numbers averaged 19.20 percent between 2014 and 2016.

Nigeria has a good casino gambling business, too. What is more, the casino industry is expected to grow and turn into one of the continent’s largest casino industries in the following years. The bad thing about casino gambling in Nigeria is the fact that the system is largely unregulated and there are not enough licensed gambling venues.

The two gambling cities in Nigeria, i.e, the cities with a legal gambling facilities are Abuja and Lagos. Lagos is the largest gambling city in the country and it has 1 gambling facility, 10 table games, as well as 106 games, slots, and even video poker machines. However, games such as roulettes and coin flipping are prohibited in Nigeria.

Despite the fact that the physical casinos in Nigeria are but three, the on-line casino industry has shown rapid growth, ever since the first on-line casino was licensed in the country in 2013. Actually, gambling was banned across the country until 2004, but then the first officially sanctioned on-line lottery was launched (incidentally, that is also the time when the country’s casinos opened, too).

The year 2013 saw the establishment of the country’s first on-line casino. Initially, the casino featured only Roulette games. The market rapidly expanded and now Nigerians can access a wide range of international and sports casinos operators. Nevertheless, the country is still very strict on the topic and allows citizens to visit approved sites only.

Experts expect the on-line gambling industry in South Africa, Kenya and Nigeria to reach $37 billion this year and this has made the government to realise that the potential tax revenues from such an expansive business require proper regulation and should not be turned a blind eye on.

Nigerian authorities think that the strong regulation of the market will actually attract more people to on-line gambling sites and it will even help reduce corruption and criminal behaviour among the population.

Government has been trying to set new regulating laws and make gambling profitable for the country as early as 2014, but with little success. New licensing systems are needed, according to Lagos State Lottery Board, and FIFA’s Early Warning System believes that both operators and the government can benefit from one another, all they need to do is work hand in hand.


Source: European Gaming News

European Gaming News

EGT Romania: new promotions for slot machines!

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EGT-romania EGT Romania: new promotions for slot machines!

 

A challenge that EGT Romania has always accepted, both towards customers and other operators, most of them already becoming partners, is to always offer them the opportunity to grow their businesses by choosing the most performing, attractive, interactive, awarded and appreciated products from the gambling industry. So, periodically we make offers as attractive as possible to facilitate the decision to progress of each operator.

Starting with January 2020, EGT Romania offers operators the opportunity to purchase slot machines from both previous generations and the latest models, at extraordinary prices conditions.

VEGA VISION UP, VEGA VISION +UP, VEGA VISION +ST – in 12 or 24 installments without advance payment

The increasingly diverse demands of players develop the need for operators to integrate tailor-made products and services into their gaming halls. AWPs are some of them. Taking this into account, you can now take advantage of the following offer:

  • You can purchase cabinets from the Vega Vision range with AWP mixes in 12 or 24 installments, without advance payment.
  • You can also purchase Vega Vision cabinets in 12 or 24 installments, without advance payment, if you choose game mixes from the Collection Series range.

!!! In addition, we thought that you might want to convert AWP to Collection Series or vice versa at some point, so we created a minimum cost for you. Therefore, you will benefit of only 999 Euro + VAT per conversion (compared to 1950 Euro + VAT – the basic price).

P-24/24 UP, P-27/27 ST SLIM – 2 months free of charge!

These EGT slot machines, equipped also with AWP game mixes, awarded and appreciated year after year, are still in the top of the preferences of players and operators alike.

The active special offer consists in:

  • Enjoy 2 months free of charge when renting P-24/24 Up and / or P-27/27 St Slim with AWP game mix

S32/55 – S-line range – 40 E discount

Presented for the first time in Romania in September 2019, within the EAE, the S32/55 terminal, from the S-line multiplayer range, impresses with the imposing appearance, with a dominant display of 4K resolution, 55 inches.

Active offer:

  • You can rent S32/55, during this period, with 40 E discount.

For questions, complete information and additional details, we invite you to contact the EGT Romania sales team at the data available here.

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Could UK Government Policy Threaten Online Betting Promos?

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Untitled-2 Could UK Government Policy Threaten Online Betting Promos?

Most observers would agree that the UK political class is pursuing a dialogue on the very nature of the gambling industry. The headline issue is, of course, fixed-odds betting terminals (FOBT’s), which have been the focus of a huge campaign. This week the UK Chancellor, Phillip Hammond, announced that the maximum stake in these gaming machines will be cut dramatically starting in October 2019. The move has cross-party support, and even the gambling industry has been vocally supportive, knowing that it at least makes sense from a PR perspective to seem concerned about the issue.

However, FOBT’s are not the only issue being discussed about the industry in the UK, with some changes perhaps having a big impact on punters. Advertising has come under scrutiny recently, with an almost saturated feel to the volume of sports betting adverts played on television during events like Premier League games. Sky, the UK’s dominant figure in sports broadcasting, has agreed to ‘regulate itself’ and limit the number of betting adverts beginning at the start of the 2019 Premier League season.

Sky moving to restrict advertising

The move by Sky, while seemingly commendable as they will lose out on a chunk of the estimated £460 million gambling companies spend on advertising in the UK, is also indicative of the fact that the landscape is changing. The Labour Party, in particular, has signalled that they will try to put curbs on many aspects of the industry should they win the next election. For example, Labour deputy leader, Tom Watson, has called for a ban on funding accounts with credit cards and any advertising during live sports events.

However, one area that will be keenly watched by casino players and bettors is that of promotions. Incentives like free bets, price boosts, reload bonuses and the rest are the “carrot” that usually acts as a tipping point to encourage a player to join a new site, but they are certainly not the only reason why people bet. If a Government decides that promotions force people to bet, rather than supplement a decision that has already been made, could they too be in the firing line as the UK authorities try to further regulate the industry?

Free bets offers popular with punters

One would argue that would come to the detriment of the customer, rather than the industry. Consider how a punter might want to bet with William Hill on Real Madrid at 12/1 to win the Champions League, or the Boston Celtics at 7/1 with Bet365 to win the NBA Championships; they could check a list of free bet no deposit 2018 offers and potentially make their bet for free. Is it fair to take away those incentives from the customer?

1 Could UK Government Policy Threaten Online Betting Promos?

There is a fine line between the idea of a promotion and the “bet now!” command that is being looked at by the Advertising Standards Agency, but it’s hard to know where that line will be drawn in the future. Punters would be irate to learn that they can’t, for example, go to a bookie and find an incentive like a price boost on the current odds of 12/1 for Chelsea to win the Premier League.

In the end though, money usually settles these matters. While the UK Government has made moves on FOBTs, it was slow-acting because bookmaker shops were keen to point out that those betting terminals equate to jobs. 2017/18 was estimated to have raised £2.8 billion in gaming tax receipts for the UK Exchequer. The Government will be loath to jeopardise that income. The point is: if the bookies can make their case, those promos will be here to stay.

 

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Pragmatic Play roars to life with 5 lions

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New release sees ancient spirits guarding amazing riches

15 June 2018: Pragmatic Play, the multi-award-winning games provider, has announced the launch of 5 Lions, a 3×5 video slot steeped in myth and legend.

Chinese iconography lights up the reels of 5 Lions, with turtles, phoenixes and dragons appearing covered in glittering gemstones.

The mystical lions of the game’s title act as the wild symbols, granting the player a random multiplier of up to 40x and springing to life when they appear in any winning line.

Melissa Summerfield, Chief Commercial Officer at Pragmatic Play, said: “Our suite of high quality games continues to go from strength to strength, and 5 Lions is a great addition that we are proud to introduce to our partners and players.

“The game’s mystical air is complemented by an engaging and visually satisfying array of bonus content, and it certainly has the potential to keep players coming back.”

Three gilded yin-yang symbols unlock 5 Lions unique free spins feature, expanding the three central reels to four symbols in height and boosting the potential ways to win from 243 to 576.

Players then have the opportunity to choose between seven lions, offering a wide selection of different multiplier ranges. These options range from six free spins with a range of high multipliers (15x, 30x, or 40x) to 25 free spins with a range of lower multipliers (2x, 3x, or 5x).

Pragmatic Play’s portfolio contains more than 80 proven HTML5 video slots, including Wolf Gold, Chilli Heat and The Champions. These titles are now live with a growing list of leading casino brands, including Mr Green, Betsson and LeoVegas.

For more information on this release or to arrange an interview please contact Tom Lewis at Square in the Air on 020 3586 8257 or tom.lewis@squareintheair.com

About Pragmatic Play

Pragmatic Play is one of the fastest growing providers of slots games in the online gaming industry. It has proven expertise in creating mobile and desktop content that engages modern players. Its expanding portfolio features more than 80 proven HTML5 titles, which support 26 languages and all major currencies, and are built on unique in-house designs.

The provider’s games are attuned to the needs of players and operators in regulated markets all over the world and are now a fixture on many of the leading casino brands.

For more information please visit http://pragmaticplay.com/

Source: European Gaming News

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