Has the Gambling Industry Benefited Nigeria?
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Ever since Nigeria opened herself up for gambling companies to begin operations in Nigeria, there has been unending debates about the impacts of sports betting and gambling generally.
While some have welcomed the development with open arms, others have not been particularly receptive to the idea of a sports betting industry in a somewhat conservative country.
Critics of online gambling have been quick to point out the possible negative effects of gambling which include addictive gambling habits, financial impropriety and underage gambling and many other undesirable consequences that come with the territory.
Despite the reservations from so many quarters, sports betting is now pervasive in Nigeria, resulting in a multi million dollar industry following the huge patronage betting companies are enjoying.
The success of the betting companies and the industry at large could be attributed to the aggressive marketing push of these bookmakers offering a plethora of betting bonuses and other sundry offers to new and existing players.
Beyond the shores of Nigeria, the Nigerian betting industry is making waves and it is now widely considered as the poster child of the igaming business on the continent.
Given the giant strides of the gambling industry, it is safe to say that the gambling industry isn’t all doom. There have been positive effects all along!
So, what are the benefits of a thriving igaming industry in Nigeria? Has there been any tangible gains from opening up to betting companies? Or is it just hot air? The evidence on the ground suggests that there is actually substance to the talk of positive effects of online gambling in the country.
So, let’s take a look at some of these positives!
Employment Opportunities
Nigeria has been bedeviled by a long running challenge of unemployment. A good number of the population that falls within the employment bracket have been affected by the lack of job opportunities.
However, that trend is changing with betting companies creating roles that are constantly filled by Nigerians. From the corporate headquarters to the retail shops of the betting companies dotting the landscape of the country, Nigerians are getting gainfully employed.
Increased Government Revenue
Another advantage of the igaming industry is the opportunity for increased government revenue. Ever wondered why the government liberalized and deregulated the lottery industry in Nigeria?
The answer to this question is simple! Betting companies looking to set up operations in Nigeria part with millions of dollars to obtain a license to begin operations in Nigeria. Additionally, these establishments pay to have their licenses renewed along with regular company taxes expected from them.
Corporate Social Responsibility
Furthermore, betting companies like other establishments in other sectors have social responsibilities they live up to. Beyond creating jobs and remitting taxes to the coffers of the government, betting companies have been heavily involved in corporate social responsibility more than ever before.
No doubt there are inherent dangers in the online betting industry, however, the industry is not all gloom. It is indeed bringing good tidings to Nigeria and Nigerians!
