Nigeria Bookmakers

Nigeria sits in the southeastern part of West Africa on the coast of the Gulf of Guinea and is a country rich in culture and minerals as well as emerging gambling industry. Nigeria has put in place substantial legal framework over the years regarding bookmakers and sports betting, which has paved way for business and fans. This article focuses on the history of Nigeria bookmakers and sports betting, legislation and regulations, the prohibited and allowed bets, licenses, and taxes.

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Table of Contents

Summary of Key Events

1960: Nigeria becomes independent; there is no regulation of gambling at the start.

1977: Gaming Machines Act of 1977 prohibits gambling.

1990: A more strict prohibition, yet some games will be allowed.

2005: This was through the National Lottery Act through which gambling was legalized.

2007: Specific requirements set out in the National Lottery Regulations.

History of Gambling Law in Nigeria

The trajectory of gambling laws in Nigeria reflects a dynamic interplay between regulation and liberalization:

• 1960: Nigeria became an independent country form the British colonization.
• 1960-1977: Gambling was still largely legal and the authorities paid very little attention to it.
• 1977: Gaming Machines Act of 1977 legalized gambling.
• 1990: This is because, under the Chapter 22 of the 1990 Criminal Code Act, this prohibition was further enhanced, although this did not apply to backgammon and poker.
• 2005: Lottery business was allowed by the 2005 Lottery Act.

Nigeria bookmakers and Regulatory Bodies

Gambling is legal in Nigeria both at the federal level and at the state level. The regulation of all forms of gambling is under the National Lottery Regulatory Commission (NLRC) at the federal level. Gambling activities at the state level are regulated by the state gaming boards for instance the Lagos State Lotteries and Gaming Authority. Every product license functions within the context of federal and state laws, which means that direct and indirect rules apply to the operators.

Key Regulatory Acts and Agencies:

• National Lottery Act 2005: Gives the broad direction on the implementation of the policy.
• National Lottery Regulation 2007: Gives specific procedures on how the organization should be run.
• Casino and Gaming Machines (Prohibition) Act 1977: Expressly bans game machines from being used, but with some exceptions.
• Lagos State Lotteries and Gaming Authority Law 2021: Relatively less stringent as compared to the federal laws, in regards to the gaming machines.
• Relevant Regulatory Bodies: The other licensing bodies include Lagos State Lottery Board and Oyo State Lottery Board.

Allowed and Prohibited Bets

Under Nigeria’s gambling laws, various forms of gambling are permitted, while others remain prohibited:

• Allowed: Gambling on sports, horse racing, lotteries as well as promotional auctions and competitions.
• Prohibited: The manufacture, selling, possession, and use of gaming machines are prohibited by the Gaming Machines (Prohibition) Act of 1977. However, some laws permit the use of gaming with the virtual currencies that have no other utility.

Licensing for Nigeria Bookmakers

Licensing is also another factor that has been put in place to regulate the operations of bookmakers in Nigeria. The NLRC issues different types of licenses depending on the nature of gambling activity:

• Lottery Permit: It is renewable for another 10 years after the initial validity of 10 to 15 years.
• Sports Betting License: The minimum issued share capital to be provided is N30 million, application fee stands at N2 million, and the licensing fee is N50 million.
• Promotional Permits: For the particular promotional strategies.

The Licenses and Fees for Sports Betting in Nigeria

The licensing process for sports betting involves several steps and fees:

• Application Fee: An amount of N2 million is also to be paid to the NLRC.
• Licensing Fee: N50 million is the fee for sports betting license.
• Bank Guarantee: N25 million from one of the new generation commercial banks.

At the time of operation, the following deductions have to be made: 2% of the company’s monthly turnover has to be paid to the National Lottery Trust Fund and 1% to the NLRC. The entities that offer betting services through short codes have to surrender certain percentages of their gross monthly sales turnover.

Bookmakers in Nigeria and the Issue of Taxation

Nigeria imposes several tax rates on gambling activities:

• Gambling Tax: Twenty percent on the gross gaming revenue.
• Online Gambling Tax: It is 20% of the gross gaming revenue.
• Extra Sports Betting Tax: 2 percent of the gross sales turnover, but this one only applies to bookmakers.
• SMS Gambling Tax: 3% of the gross sales turnover, specifically in SMS gambling.

These taxes are in addition to the general corporate tax of the amount 30 percent and the value added tax of 5 percent.

Description of Nigeria Sports Betting

Sports betting in Nigeria is alive and growing, owing to the Nigeria’s love for sports especially soccer. The Super Eagles, Nigeria’s national football team, has achieved significant milestones, including:

• African Cup of Nations: Champions in the year 1980, 1994, and 2013.
• FIFA World Cup: Admitted in the previous years: 1994, 1998, 2002, 2014, and 2018.

Sporting Event Glory Milestones:

• 1973: Nigeria emerges the champion of FIBA AfroBasket championship.
• 1996: Nigeria scoops gold in the men’s 4x100m relay in the Olympics for the first time. The Final Sprint 4x100m Relay : Nigeria takes the Gold in Athletics at the Olympics.
• 2016: Nigeria Aggregate score is 10 gold medals and the team retains the gold in 4x100m relay race.
• 2018: Nigeria’s national football team, Super Eagles are through to the FIFA World Cup.
• 2013: Nigeria scoop the African cup of Nations title.

Conclusion

Thus, Nigeria bookmakers and sports betting are characterized by a quite complicated and unique picture, which is influenced by historical legislation, regulation, and current development tendencies. Whether you are a potential operator planning to start a business in this field or just an interested individual who wants to know the laws of the Nigerian gambling industry, this information will be useful.

FAQ of Nigeria Bookmakers

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