8th Annual Sports Betting West Africa (SBWA): Participants brainstorm on gains of Nigeria's gaming industry

Posted : 25 August 2023

Participants at the ongoing 8th Annual Sports Betting West Africa (SBWA) on Thursday brainstormed on the prospects of Nigeria's Game Industry and its challenges.

As the SBWA hits Day 2, discussants at the Panelists discussion debated on issues around the gaming industry and the new high yielding virtual gaming.

The first session with a keynote address, "Driving Investment and Promoting Responsible Gaming." Insights were delivered by the Lagos State Lottery Board.

Also, there was another presentation on "Smart Investing in the Sport Betting Industry," while the first Panel Discussion was centered on "Sporting Success, Identifying High-Growth Market in African Sport Betting and How to Access Them."

There were also Panel discussants on "Female Forces: Unlocking the Hidden Talent of Women in African iGaming."

This was followed with a topical issues on "Ai-Powered Growth: How to Leverage Artificial Intelligence for iGaming Success in Africa."

The afternoon session of the SBWA focused on "Staying Ahead in Africa: Creative Marketing Strategies for Taking Your Business to the Next Level and "Safe Bet: Improving Player Protection and Responsible Gaming in West Africa with Policy and Technology."

The last of the Panel discussion however centered on "Game On: Which Kind of Online Games Thrive in the West Africa Market."

One of the lead panelists, and a Gaming Consultant, Mr Foye Johnson Adewale who gave the overview and summary of the Day 2 discussions contended that Nigeria's Gaming Industry was not saturated, which was a clear departure from what some of the discussants opinionated.

``In a country like Nigeria with over 250 million people according to the population aggregate, we have these figures to our advantage especially with the population distribution which is favourable.

``The untapped population is still 50/50 in terms of male and female distribution.

``In the betting space, the the percentage of male and female pointers is 95 to 5 per cent, that is if we ever have any female who will come close to betting shops.

``So if we put all the earnings of all the betting companies in Nigeria together, it means they have all be milking from on the leftover 50 per cent of the expected revenue.

``So what we have is the 50 per cent of Women who will not bother or have passion for betting; so, if we ask if there is still room for expansion, I will say yes!"

Mr Foye Johnson Adewale referenced that the population of gamers in the U.K. compared to Nigeria gave the country a big edge in terms of opportunities for expansion.

``A research shows that about 75 per cent of the citizens of U.K are involved in one gaming or the other. If we transpose that to Nigerian/U.K population, the U.K population is just about one third of Nigeria.

``So, if 75 per cent of the population of the U.K can have such amazing turnover of profits and investments in Gaming, then, that is just a portion of gains of what Nigeria could earn in Gaming.

``What we need is just to look at what we are generating in Nigeria which is huge in terms of untapped prospects in the population.

``We also need to create products that fit into the untapped pointers so that many people will be informed about the gains in the betting industry,'' he said.

Mr Foye Johnson Adewale also noted that cultural and religious beliefs were factors to be considered as negative curves in Gaming Industry.

``Factors such as cultural and religious beliefs are also evident in the Gaming Industry.

``For a reason, gaming is placed in entertainment so it is safe for people. The risk factors such as addiction can be solved through adequate enlightenment.

``We can achieve responsible gaming,'' he said.

8th Annual Sports Betting West Africa (SBWA): Participants brainstorm on gains of Nigeria's gaming industry

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