The Director General of the Cross River Lottery and Gaming Agency, Michael Eja has confirmed that no fewer than 60 million Nigerians engage in gambling daily.
Speaking at the launching of a new sports betting platform, Woskybet, in Abuja, the Director General said that the gambling industry in Nigeria is booming and valued at between N500 billion and N600 billion.
According to him, despite the industry’s rapid growth, 90 percent of the potential market remains untapped. He said that Lagos State alone generated $243 million in revenue last year.
“The betting industry is worth about $1 billion in Africa. Lagos State alone generated $243 million in revenue last year. Gambling is becoming increasingly popular, and more people are beginning to understand its essence.”
He said that gambling industry has been making contributions to wealth redistribution, job creation, and revenue for the government.
“The gaming industry sells hope, aids in wealth redistribution, and creates jobs in Nigeria. Over time, we will see an increase in the revenue that the gambling sector contributes to nation-building.”
Director of Operations for Woskybet, Nurudeen Idrees, described gambling as a game of luck, where players may win or lose. He however, reassured customers about the security of their winnings.
“In terms of payment, I want to reassure our customers and the public that their money is 100% guaranteed when they win, as their wins are their rights.
He expressed Woskybet’s commitment to providing a safe, secure, and exciting betting experience for sports enthusiasts in Nigeria.
