Last updated on December 14th, 2023 at 09:38 pm
There are scores of betting sites in Nigeria and many Nigerians have taken to online betting in droves.
The reasons for the rise of online betting are diverse. Some as a means of recreation, others for economic reasons, while for a different group of people, it is the thrill that comes with calling games correctly.
For the betting sites on the other hand, there are lots of them operating in Nigeria and even more on their way to joining the already bloated list of betting sites in Nigeria.
Of course, Nigeria has one of the biggest iGaming markets in Africa, given its sheer population, the love for sports and a unique demographic that favours online betting companies.
So, it is no surprise that many are currently operating in the country, with even more looking to join the fray.
Going by estimate, around 730 Billion is wagered annually in the country, with betting companies raking in millions of Naira in profit.
Clearly, one does not have to dig too far to see why there are so many betting sites in Nigeria. The business is lucrative to say the least.
Another reason is the friendly disposition of the regulatory agency, the National Lottery Regulatory Commission (NLRC) and the government as a whole, to online betting players.
Nigeria offers a fertile ground for betting companies with little or no taxes as part of their expenses.
Nigeria’s betting tax regime is next to nothing when compared with other African countries like Ghana, Tanzania and Kenya.
The Kenya government is particularly tough on online betting companies with taxes on stakes as well as winnings.
As a matter of fact, the Kenya Revenue Authority (KRA) recently mandated betting companies to remit taxes on a daily basis for proper audit of tax returns.
A juxtaposition of the prevailing realities of other markets in Africa shows that the iGaming companies are making tons of money in Nigeria.
What about the customers who spend their hard-earned money to patronize these companies? What value do they get?
More often than not, the only real value players get is from winnings. But the question remains how often do they win? You Gus’s is as good as mine.
The odds are stacked against players. However, there are other ways of getting even more value as a customer.
Let’s take a look at some of the ways to get guaranteed value from a betting site:
Promotions are basically freebies that betting sites give to their customers. It could be a free bet or extra value on winnings or even bonuses on deposits on certain days or times.
As a player, always look out for these promotions so you don’t always have to spend your money.
Betting sites in Nigeria are also known for rewarding players, especially new ones with betting bonuses.
For example, if you sign up on some betting sites, you stand a chance of claiming bonus usually given to new players.
As a new player, it is always advisable to use these bonuses to explore the Sportsbook to get a hang of the site.
It goes without saying that bonuses are a great way to get a wagering balance.
3) Competitive Odds
More often than not betting sites offer fairly similar odds on the various events in their Sportsbook.
However, some bookmakers provide customers with odds that are marginally higher than others.
When you wager on these odds, winnings become higher, thus giving you more monetary value.
4) Odds Boost
Odds boost is a betting feature that gives players enhanced odds offers.
The prices on certain events are increased to give customers a chance of winning a bigger sum when the bet comes through.
5) Other Betting Features
There are several betting features across different betting sites.
Many online betting sites offer features such as One-cut, Cash out and Acca bonuses.
You can take advantage of any of these features for increased value.
Online betting can be daunting, especially for new players.
However, a few hacks just like we have explained to you will help you increase the risk of losing your money and significantly increase the value you get from betting sites.