The Nigerian multi-billion-naira sport betting industry is growing astronomically to confirm a 2016 report of PwC, which projected that the industry would grow at an annual rate of 16 per cent each year to $147 million in 2019. Raheem Akingbolu writes on the new culture of betting and its impact on the nation’s economy
Four things have helped the nation’s betting industry to soar in the last five years – economic instability, increasing sports culture, large population and the unbridled growth in internet penetration and widespread use of mobile phones.
Specifically, the online gambling industry has flourished in recent years, adapting their brick-and-mortar presence to the internet scene, and spawning popular sites such as Bet9ja, Merry bet or Nairabet…
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