The Director-General (DG) of the Cross River State Lottery and Gaming Agency, Michael Eja, has revealed that approximately 60 million Nigerians engage in gambling daily.
Eja made this known during the launch of a new sports betting platform, Woskybet, in Abuja on Friday.
He noted that the gambling industry in Nigeria is a booming one currently valued between N500 billion and N600 billion.
Eja noted that despite the industry’s rapid growth, 90 per cent of the market’s potential remains untapped.
He said that Lagos State alone generated $243 million from the betting industry last year.
Eja said: “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 highlighted the benefits of the industry to include its contributions to wealth redistribution, job creation and revenue for 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”, he added.
The Director of Operations for Woskybet, Nurudeen Idrees, emphasised the positive impact of the gambling industry on job creation, particularly for Nigerian youths.
He described gambling as a game of luck in which players may win or lose, and reassured customers about the security of their winnings.
He said: “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 further expressed Woskybet’s commitment to providing a safe, secure and exciting betting experience for sports enthusiasts in Nigeria.
