Sports Betting in Nigeria: Market Growth and Future Trends

The sports betting industry in Nigeria is expanding rapidly, driven by increased digital adoption, fintech innovations, and a passionate sports fanbase. With projected revenue of $626.01 million in 2025, the market is expected to grow at a CAGR of 4.83%, reaching $755.86 million by 2029.

Market Growth & Revenue Projections

• Revenue in 2025: $626.01 million

• Projected Revenue in 2029: $755.86 million

• CAGR (2025-2029): 4.83%

The growth of online and mobile sports betting is a key driver of this expansion, making betting more accessible to millions of Nigerians.

User Base & Engagement

• Estimated Users by 2029: 1.8 million

• User Penetration (2025-2029): 0.7%

• Average Revenue Per User (ARPU): $398.01

As more users embrace sports betting, operators must enhance their offerings with secure transactions, attractive odds, and seamless user experiences.

Global Comparison & Competitive Landscape

• United States: $18.51 billion projected revenue in 2025

• Canada: Highest user penetration at 40.8%

The growth of online and mobile sports betting is a key driver of this expansion, making betting more accessible to millions of Nigerians.

User Base & Engagement

• Estimated Users by 2029: 1.8 million

• User Penetration (2025-2029): 0.7%

• Average Revenue Per User (ARPU): $398.01

As more users embrace sports betting, operators must enhance their offerings with secure transactions, attractive odds, and seamless user experiences.

Global Comparison & Competitive Landscape

• United States: $18.51 billion projected revenue in 2025

• Canada: Highest user penetration at 40.8%

While Nigeria’s sports betting market is growing, it remains smaller than global leaders. However, local brands like Bet9ja, Nairabet, Easywin and international operators like Betway continue to expand their influence.

Key Factors Driving Growth

✅ Fintech Integration: Platforms like Paystack and Flutterwave simplify transactions.
✅ Football Betting Popularity: Football dominates sports betting markets in Nigeria.
✅ Mobile & Online Expansion: Increased smartphone use fuels betting activity.
✅ Competitive Market: More operators lead to better user incentives and promotions.

Conclusion

With steady growth and increasing user engagement, Nigeria’s sports betting industry offers significant opportunities for both operators and bettors. As technology and regulations evolve, the market is set to reach new heights.