Gambling in Nigeria
3/18/2021 5:55:45 AM
Gambling in Nigeria
Gambling in Nigeria is not well regulated. Although there is a gambling law in place, many illegal casinos operate in the country. The legal land-based casinos are located in the two largest cities. The biggest casino is The Federal Palace Hotel in Lagos. Nigerian law focuses on activities to reduce money laundering and illegal gambling.
Gambling in Nigeria is regulated by the National Lottery Regulatory Commission. The lottery was legalized with the National Lottery Act, 2005 and gambling is defined by Chapter 22 of the Criminal Code Act enacted in 1990. The law splits the games into two categories: The legal and illegal games. The legal games are lottery, land-based casino, and sports betting. The law regulates slot machine activity and only licensed operators can provide slot machine gambling. Money laundering activity is covered by the Money Laundering (Prohibition) Act, 2011.
Online gambling in Nigeria is regulated by the Nigerian Lottery Commission. All bookmakers are required to obtain a license from the gaming commission before operating in Nigeria. Nigerian law does not mention online space and there is no restriction for the people to reach local or foreign gambling sites. Although Internet space is not mentioned exactly in the law, the companies are obliged to follow the regulations and laws as it is for the land-based casinos. All types of online games are available except those that are illegal.
Online Gambling Companies
Nigeria is one of the most competitive markets in gambling in Africa. The size of the population and internet exposure of the residents creates the right conditions for online gambling companies to operate in.
The gambling age is defined by the law. People below the age of 18 cannot legally gamble.
There is no obstacle when depositing money to foreign or local bookies, although betting limits exist as defined by respective individual bookmakers. Users deposit money using bank cards, e-wallets such as Skrill or Neteller, and most recently USSD services. There is no legal restriction or service blocking.