Online Betting Firms Gamble on Soccer-mad Nigeria
LydiaBevan
Posts: 53
<a href="https://register.bet9ja.com/?btag=yohaig&promocode=yohaig"; target="_blank" aria-label="Register at Bet9ja with promotion code YOHAIG - Opens in new window"><img src="https://www.yohaig.ng/wp-content/uploads/2023/04/bet9ja-100-welcome-bonus-winners-dont-wait-468x60-1.gif"/ width="468" height="60" alt="Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus" title="Use promotion code YOHAIG when registering at Bet9ja to claim your N100,000 bonus" loading="lazy"></a><p>By Alexis Akwagyiram and Didi Akinyelure</p><a href="https://bit.ly/Bet9jaPromotionCodeYOHAIG"; target="_blank" aria-label="Register at Bet9ja with promotion code YOHAIG - Opens in new window"><img src="https://www.yohaig.ng/wp-content/uploads/2019/09/bet9ja-mobile-app-banner-15.gif"; width="300" height="250" alt="Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus" title="Use promotion code YOHAIG when registering at Bet9ja to claim your N100,000 bonus" loading="lazy"></a>
<p>LAGOS, June 25 (Reuters) - Online <a href="https://radi8tv.com/@jackisegal1134?page=about">sports betting</a> wagering is growing in soccer-mad Nigeria largely thanks to payment systems established by homegrown technology companies that are starting to make online companies more viable.</p><a href="https://register.bet9ja.com/?btag=yohaig&promocode=yohaig"; target="_blank" aria-label="Register at Bet9ja with promotion code YOHAIG - Opens in new window"><img src="https://www.yohaig.ng/wp-content/uploads/2020/12/bet9ja-mobile-registration-12.jpg"; width="300" height="250" alt="Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus" title="Use promotion code YOHAIG when registering at Bet9ja to claim your N100,000 bonus" loading="lazy"></a>
<p>For several years, mobile payments failed to remove in Nigeria as they have in countries such as Kenya, where Safaricom's M-Pesa cash transfers have actually <a href="https://media.labtech.org/@laurelives6336?page=about">promoted</a>; a culture of cashless payments.</p>
<p>Fear of <a href="https://sjee.online/@wcdanalisa797?page=about">electronic scams</a> and sluggish web speeds have held Nigerian online consumers back but <a href="https://videofrica.com/@sebastianuther?page=about">sports betting</a> firms states the new, fast digital payment systems underpinning their websites are altering mindsets towards online deals.</p>
<p>"We have seen considerable growth in the number of payment services that are offered. All that is definitely changing the video gaming space," stated Seun Anibaba, CEO of Lagos State Lotteries Board, video gaming regulator in Nigeria's business capital.</p>
<p>"The operators will go with whoever is quicker, whoever can link to their platform with less concerns and problems," he stated, adding that taxes from <a href="https://guitaration.com/video/@myragarey83136?page=about">sports betting</a> in Lagos State increased 30 percent to 40 percent in 2017 from 2016.</p>
<p>That development has actually been matched by a rise in web payments, according to information from the Nigeria Inter-Bank Settlement System (NIBSS), which is owned by the central bank and licensed banks.</p>
<p>In 2016, there were 14 million web payments worth an overall 132 billion naira ($420 million). Transactions jumped to 29 million worth 185 billion in 2017 and in the very first <a href="https://vloglover.com/@ouidalegere14?page=about">quarter</a>; of 2018 there were almost 10 million worth 61 billion.</p>
<p>With a young population of nearly 190 million, increasing mobile phone use and falling information expenses, Nigeria has long been seen as a terrific opportunity for online companies - once customers feel comfy with electronic payments.</p>
<p>Online gaming companies say that is occurring, though reaching the tens of millions of Nigerians without access to banking services stays a difficulty for pure online <a target="_blank" href="https://sossdate.com/@thanh35w395283">retailers</a>.</p>;
<p>British online <a target="_blank" href="https://nepaxxtube.com/@dedradods1200?page=about">sports betting</a> firm Betway opened its very first African service in Kenya in 2015, followed by Uganda, Ghana and South Africa. It launched in Nigeria in January.</p>
<p>"There is a gradual shift to online now, that is where the industry is going," Betway's Nigeria manager Lere Awokoya said.</p>
<p>"The development in the variety of fintechs, and the federal government as an enabler, has assisted the organization to thrive. These technological shifts encouraged Betway to start running in Nigeria," he stated.</p><iframe width="640" height="360" src="//www.youtube.com/embed/0DAKmmG_ecQ" frameborder="0" allowfullscreen style="float:left;padding:10px 10px 10px 0px;border:0px;"></iframe>
<p>FINTECH COMPETITION</p>
<p><a href="https://pawtygram.com/shadsummers261">sports betting</a> firms capitalizing the soccer craze whipped up by Nigeria's involvement in the World Cup state they are discovering the payment systems developed by local start-ups such as Paystack are showing popular online.</p>
<p><a target="_blank" href="https://www.jomowa.com/@renachampionde">Paystack</a>; and another regional <a href="https://agmtv.net/@janaramsden75?page=about">startup</a>; Flutterwave, both founded in 2016, are offering competitors for Nigeria's <a href="https://notitia.tv/@kishacollazo38?page=about">Interswitch</a>; which was set up in 2002 and was the main platform utilized by services running in Nigeria.</p>
<p>"We included Paystack as one of our payment choices without any fanfare, without announcing to our customers, and within a month it shot up to the primary most used payment alternative on the site," said Akin Alabi, founder of NairabBET.</p>
<p>He stated NairaBET, the nation's 2nd biggest wagering firm, now had 2 million routine clients on its site, up from 500,000 in 2013, and Paystack remained the most popular payment option considering that it was included late 2017.</p>
<p>Paystack was established by two <a href="https://yovidyo.com/@elwoodquillen?page=about">Nigerian</a>; computer <a href="https://fotobinge.pincandies.com/elisebetche849">technology</a>; graduates, Shola Akinlade and Ezra Olubi, who received early stage funding in Silicon Valley's Y-Combinator program.</p>
<p>In December 2016, it raised $1.3 million from <a target="_blank" href="https://hbcustream.com/@clifffield7892?page=about">investors including</a> China's Tencent and Comcast Ventures in the United States.</p>
<p>Paystack, based in the <a href="https://test.manishrijal.com.np/@regansalomons">mad Ikeja</a> district of Lagos, said the number of regular monthly transactions it processed increased from about 8,000 in early 2016 to more than 900,000 as of June 2018.</p><a href="https://bit.ly/Bet9jaPromotionCodeYOHAIG"; target="_blank" aria-label="Register at Bet9ja with promotion code YOHAIG - Opens in new window"><img src="https://www.yohaig.ng/wp-content/uploads/2019/09/bet9ja-mobile-app-banner-8.gif"; width="300" height="250" alt="Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus" title="Use promotion code YOHAIG when registering at Bet9ja to claim your N100,000 bonus" loading="lazy"></a>
<p>"In early 2016 we were processing about $3,000 a month. Today we process well over $11 million each and every single month," stated <a href="https://champ217.flixsterz.com/@jennaclinton11?page=about">Emmanuel</a>; Quartey, Paystack's head of development.</p>
<iframe width="640" height="360" src="
frameborder="0" allowfullscreen title="sports betting (c) by N/A"></iframe><div style="clear:both;"></div><p>He stated an ecosystem of developers had emerged around Paystack, creating software to integrate the platform into websites. "We have actually seen a growth in that community and they have actually brought us along," stated Quartey.</p>
<p>Paystack stated it allows payments for a variety of wagering companies however likewise a large range of organizations, from energy services to carry business to insurance provider Axa Mansard.</p>
<p>Flutterwave, <a href="https://www.lizyum.com/@yukikowainewri">co-founded</a>; by Nigerian business owner Iyinoluwa Aboyeji, is also backed by the Y-Combinator programme along with investor Greycroft Partners and Green Visor Capital and the <a target="_blank" href="https://discovertalent.com/nicole06o10889">Omidyar Network</a>. It raised $10 million last year.</p>
<p>FOREIGN INVESTMENT</p>
<p>Shifts in Nigeria's payment culture have actually accompanied the arrival of foreign financiers hoping to take advantage of <a href="https://play.sarkiniyazdir.com/@cary0334588706?page=about">sports betting</a> <a href="https://gotuby.com/@deloriswhitfel?page=about">wagering</a>.</p><a href="https://register.bet9ja.com/?btag=yohaig&promocode=yohaig"; target="_blank" aria-label="Register at Bet9ja with promotion code YOHAIG - Opens in new window"><img src="https://www.yohaig.ng/wp-content/uploads/2020/12/bet9ja-mobile-registration-20.jpg"; width="300" height="250" alt="Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus" title="Use promotion code YOHAIG when registering at Bet9ja to claim your N100,000 bonus" loading="lazy"></a>
<p>Industry experts state the sector generates about $1 billion a year and is likely to grow faster than in South Africa and Kenya where the service is more developed.</p>
<p>Russia's 1XBet and Slovakia's DOXXbet have both set up in Nigeria in the last 2 years while Italy's Goldbet led the trend, taking a half stake in market leader Bet9ja when the Nigerian firm released in 2015.</p>
<p>NairaBET's Alabi said its sales were <a target="_blank" href="https://thedatingpage.com/@elidavanzetti7">divided</a>; in between stores and online however the ease of electronic payments, cost of running stores and ability for customers to prevent the preconception of <a target="_blank" href="https://www.viewtubs.com/@rainabarriento?page=about">sports betting</a> in public suggested online deals would grow.</p>
<p>But despite advances in digital payments, Kunle Soname - chairman and co-founder of Bet9ja - stated it was very important to have a shop network, not least since many <a href="https://sossdate.com/@thanh35w395283">customers</a>; still remain hesitant to invest online.</p>
<p>He stated the company, with about 60 percent of Nigeria's <a href="https://notvot.com/@coralvaladez4?page=about">sports betting</a> market, had a comprehensive network. Nigerian <a target="_blank" href="https://golz.tv/@tyronejackson5?page=about">sports betting</a> stores frequently serve as social hubs where customers can see <a href="https://silatdating.com/@denny23c256743">soccer totally</a> free of charge while placing bets.</p><a target="_blank" href="https://bit.ly/Bet9jaPromotionCodeYOHAIG"; target="_blank" aria-label="Register at Bet9ja with promotion code YOHAIG - Opens in new window"><img src="https://www.yohaig.ng/wp-content/uploads/2019/09/bet9ja-mobile-app-banner-6.gif"; width="300" height="250" alt="Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus" title="Use promotion code YOHAIG when registering at Bet9ja to claim your N100,000 bonus" loading="lazy"></a>
<p>At a BetKing hall deep inside the busy Oshodi market in Lagos, dozens of <a href="http://unired.zz.com.ve/@manualmather50">soccer fans</a> gathered to enjoy Nigeria's last warm up game before the World Cup.</p><a target="_blank" href="https://register.bet9ja.com/?btag=yohaig&promocode=yohaig"; target="_blank" aria-label="Register at Bet9ja with promotion code YOHAIG - Opens in new window"><img src="https://www.yohaig.ng/wp-content/uploads/2020/12/bet9ja-mobile-registration-3.jpg"; width="300" height="250" alt="Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus" title="Use promotion code YOHAIG when registering at Bet9ja to claim your N100,000 bonus" loading="lazy"></a>
<p>Richard Onuka, a factory worker who earns 25,000 naira a month, was focused on a TV screen inside. He stated he began <a href="https://tgf.video/@merrypierre083?page=about">gambling</a>; three months ago and bets up to 1,000 naira a day.</p>
<p>"Since I have been playing I have not won anything however I believe that one day I will win," said Onuka. ($1 = 314.5000 naira) (Reporting by Alexis Akwagyiram and Didi Akinyelure in Lagos; modifying by David Clarke)</p>
<p>LAGOS, June 25 (Reuters) - Online <a href="https://radi8tv.com/@jackisegal1134?page=about">sports betting</a> wagering is growing in soccer-mad Nigeria largely thanks to payment systems established by homegrown technology companies that are starting to make online companies more viable.</p><a href="https://register.bet9ja.com/?btag=yohaig&promocode=yohaig"; target="_blank" aria-label="Register at Bet9ja with promotion code YOHAIG - Opens in new window"><img src="https://www.yohaig.ng/wp-content/uploads/2020/12/bet9ja-mobile-registration-12.jpg"; width="300" height="250" alt="Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus" title="Use promotion code YOHAIG when registering at Bet9ja to claim your N100,000 bonus" loading="lazy"></a>
<p>For several years, mobile payments failed to remove in Nigeria as they have in countries such as Kenya, where Safaricom's M-Pesa cash transfers have actually <a href="https://media.labtech.org/@laurelives6336?page=about">promoted</a>; a culture of cashless payments.</p>
<p>Fear of <a href="https://sjee.online/@wcdanalisa797?page=about">electronic scams</a> and sluggish web speeds have held Nigerian online consumers back but <a href="https://videofrica.com/@sebastianuther?page=about">sports betting</a> firms states the new, fast digital payment systems underpinning their websites are altering mindsets towards online deals.</p>
<p>"We have seen considerable growth in the number of payment services that are offered. All that is definitely changing the video gaming space," stated Seun Anibaba, CEO of Lagos State Lotteries Board, video gaming regulator in Nigeria's business capital.</p>
<p>"The operators will go with whoever is quicker, whoever can link to their platform with less concerns and problems," he stated, adding that taxes from <a href="https://guitaration.com/video/@myragarey83136?page=about">sports betting</a> in Lagos State increased 30 percent to 40 percent in 2017 from 2016.</p>
<p>That development has actually been matched by a rise in web payments, according to information from the Nigeria Inter-Bank Settlement System (NIBSS), which is owned by the central bank and licensed banks.</p>
<p>In 2016, there were 14 million web payments worth an overall 132 billion naira ($420 million). Transactions jumped to 29 million worth 185 billion in 2017 and in the very first <a href="https://vloglover.com/@ouidalegere14?page=about">quarter</a>; of 2018 there were almost 10 million worth 61 billion.</p>
<p>With a young population of nearly 190 million, increasing mobile phone use and falling information expenses, Nigeria has long been seen as a terrific opportunity for online companies - once customers feel comfy with electronic payments.</p>
<p>Online gaming companies say that is occurring, though reaching the tens of millions of Nigerians without access to banking services stays a difficulty for pure online <a target="_blank" href="https://sossdate.com/@thanh35w395283">retailers</a>.</p>;
<p>British online <a target="_blank" href="https://nepaxxtube.com/@dedradods1200?page=about">sports betting</a> firm Betway opened its very first African service in Kenya in 2015, followed by Uganda, Ghana and South Africa. It launched in Nigeria in January.</p>
<p>"There is a gradual shift to online now, that is where the industry is going," Betway's Nigeria manager Lere Awokoya said.</p>
<p>"The development in the variety of fintechs, and the federal government as an enabler, has assisted the organization to thrive. These technological shifts encouraged Betway to start running in Nigeria," he stated.</p><iframe width="640" height="360" src="//www.youtube.com/embed/0DAKmmG_ecQ" frameborder="0" allowfullscreen style="float:left;padding:10px 10px 10px 0px;border:0px;"></iframe>
<p>FINTECH COMPETITION</p>
<p><a href="https://pawtygram.com/shadsummers261">sports betting</a> firms capitalizing the soccer craze whipped up by Nigeria's involvement in the World Cup state they are discovering the payment systems developed by local start-ups such as Paystack are showing popular online.</p>
<p><a target="_blank" href="https://www.jomowa.com/@renachampionde">Paystack</a>; and another regional <a href="https://agmtv.net/@janaramsden75?page=about">startup</a>; Flutterwave, both founded in 2016, are offering competitors for Nigeria's <a href="https://notitia.tv/@kishacollazo38?page=about">Interswitch</a>; which was set up in 2002 and was the main platform utilized by services running in Nigeria.</p>
<p>"We included Paystack as one of our payment choices without any fanfare, without announcing to our customers, and within a month it shot up to the primary most used payment alternative on the site," said Akin Alabi, founder of NairabBET.</p>
<p>He stated NairaBET, the nation's 2nd biggest wagering firm, now had 2 million routine clients on its site, up from 500,000 in 2013, and Paystack remained the most popular payment option considering that it was included late 2017.</p>
<p>Paystack was established by two <a href="https://yovidyo.com/@elwoodquillen?page=about">Nigerian</a>; computer <a href="https://fotobinge.pincandies.com/elisebetche849">technology</a>; graduates, Shola Akinlade and Ezra Olubi, who received early stage funding in Silicon Valley's Y-Combinator program.</p>
<p>In December 2016, it raised $1.3 million from <a target="_blank" href="https://hbcustream.com/@clifffield7892?page=about">investors including</a> China's Tencent and Comcast Ventures in the United States.</p>
<p>Paystack, based in the <a href="https://test.manishrijal.com.np/@regansalomons">mad Ikeja</a> district of Lagos, said the number of regular monthly transactions it processed increased from about 8,000 in early 2016 to more than 900,000 as of June 2018.</p><a href="https://bit.ly/Bet9jaPromotionCodeYOHAIG"; target="_blank" aria-label="Register at Bet9ja with promotion code YOHAIG - Opens in new window"><img src="https://www.yohaig.ng/wp-content/uploads/2019/09/bet9ja-mobile-app-banner-8.gif"; width="300" height="250" alt="Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus" title="Use promotion code YOHAIG when registering at Bet9ja to claim your N100,000 bonus" loading="lazy"></a>
<p>"In early 2016 we were processing about $3,000 a month. Today we process well over $11 million each and every single month," stated <a href="https://champ217.flixsterz.com/@jennaclinton11?page=about">Emmanuel</a>; Quartey, Paystack's head of development.</p>
<iframe width="640" height="360" src="
frameborder="0" allowfullscreen title="sports betting (c) by N/A"></iframe><div style="clear:both;"></div><p>He stated an ecosystem of developers had emerged around Paystack, creating software to integrate the platform into websites. "We have actually seen a growth in that community and they have actually brought us along," stated Quartey.</p><p>Paystack stated it allows payments for a variety of wagering companies however likewise a large range of organizations, from energy services to carry business to insurance provider Axa Mansard.</p>
<p>Flutterwave, <a href="https://www.lizyum.com/@yukikowainewri">co-founded</a>; by Nigerian business owner Iyinoluwa Aboyeji, is also backed by the Y-Combinator programme along with investor Greycroft Partners and Green Visor Capital and the <a target="_blank" href="https://discovertalent.com/nicole06o10889">Omidyar Network</a>. It raised $10 million last year.</p>
<p>FOREIGN INVESTMENT</p>
<p>Shifts in Nigeria's payment culture have actually accompanied the arrival of foreign financiers hoping to take advantage of <a href="https://play.sarkiniyazdir.com/@cary0334588706?page=about">sports betting</a> <a href="https://gotuby.com/@deloriswhitfel?page=about">wagering</a>.</p><a href="https://register.bet9ja.com/?btag=yohaig&promocode=yohaig"; target="_blank" aria-label="Register at Bet9ja with promotion code YOHAIG - Opens in new window"><img src="https://www.yohaig.ng/wp-content/uploads/2020/12/bet9ja-mobile-registration-20.jpg"; width="300" height="250" alt="Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus" title="Use promotion code YOHAIG when registering at Bet9ja to claim your N100,000 bonus" loading="lazy"></a>
<p>Industry experts state the sector generates about $1 billion a year and is likely to grow faster than in South Africa and Kenya where the service is more developed.</p>
<p>Russia's 1XBet and Slovakia's DOXXbet have both set up in Nigeria in the last 2 years while Italy's Goldbet led the trend, taking a half stake in market leader Bet9ja when the Nigerian firm released in 2015.</p>
<p>NairaBET's Alabi said its sales were <a target="_blank" href="https://thedatingpage.com/@elidavanzetti7">divided</a>; in between stores and online however the ease of electronic payments, cost of running stores and ability for customers to prevent the preconception of <a target="_blank" href="https://www.viewtubs.com/@rainabarriento?page=about">sports betting</a> in public suggested online deals would grow.</p>
<p>But despite advances in digital payments, Kunle Soname - chairman and co-founder of Bet9ja - stated it was very important to have a shop network, not least since many <a href="https://sossdate.com/@thanh35w395283">customers</a>; still remain hesitant to invest online.</p>
<p>He stated the company, with about 60 percent of Nigeria's <a href="https://notvot.com/@coralvaladez4?page=about">sports betting</a> market, had a comprehensive network. Nigerian <a target="_blank" href="https://golz.tv/@tyronejackson5?page=about">sports betting</a> stores frequently serve as social hubs where customers can see <a href="https://silatdating.com/@denny23c256743">soccer totally</a> free of charge while placing bets.</p><a target="_blank" href="https://bit.ly/Bet9jaPromotionCodeYOHAIG"; target="_blank" aria-label="Register at Bet9ja with promotion code YOHAIG - Opens in new window"><img src="https://www.yohaig.ng/wp-content/uploads/2019/09/bet9ja-mobile-app-banner-6.gif"; width="300" height="250" alt="Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus" title="Use promotion code YOHAIG when registering at Bet9ja to claim your N100,000 bonus" loading="lazy"></a>
<p>At a BetKing hall deep inside the busy Oshodi market in Lagos, dozens of <a href="http://unired.zz.com.ve/@manualmather50">soccer fans</a> gathered to enjoy Nigeria's last warm up game before the World Cup.</p><a target="_blank" href="https://register.bet9ja.com/?btag=yohaig&promocode=yohaig"; target="_blank" aria-label="Register at Bet9ja with promotion code YOHAIG - Opens in new window"><img src="https://www.yohaig.ng/wp-content/uploads/2020/12/bet9ja-mobile-registration-3.jpg"; width="300" height="250" alt="Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus" title="Use promotion code YOHAIG when registering at Bet9ja to claim your N100,000 bonus" loading="lazy"></a>
<p>Richard Onuka, a factory worker who earns 25,000 naira a month, was focused on a TV screen inside. He stated he began <a href="https://tgf.video/@merrypierre083?page=about">gambling</a>; three months ago and bets up to 1,000 naira a day.</p>
<p>"Since I have been playing I have not won anything however I believe that one day I will win," said Onuka. ($1 = 314.5000 naira) (Reporting by Alexis Akwagyiram and Didi Akinyelure in Lagos; modifying by David Clarke)</p>
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