In 2025, Nigeria's online gambling market is experiencing a historic boom. According to the latest industry report, the market size for online gambling alone is expected to reach $500 million this year, with a year-on-year growth rate of 16%, an increase of $100 million from 2023. This astonishing growth is driven by the widespread use of smartphones, breakthroughs in financial technology, and the strong push from Nigeria's young user base.
Online gambling has quickly become an important part of Nigeria's digital economy, especially attractive to the 18 to 35 age group. Data shows that 90% of online betting activities are completed through smartphones, with online sports betting accounting for about 80% of the entire market. Platforms like Bet9ja, SportyBet, and 1xBet continue to lead, with Bet9ja alone capturing 6% of the market share by the end of 2024.
Bashir Abiola-Are, CEO of the Lagos State Lottery and Gaming Authority, points out that technological innovation is a key driving force behind the industry's surge. The popularity of mobile payments, QR code transactions, and digital wallets has lowered the barriers to gambling, making betting more convenient and immediate. Nowadays, even without traditional bank accounts, ordinary users can quickly complete deposits and withdrawals using financial technology services like Flutterwave, Paystack, OPay, and PalmPay.
Moreover, the improvement of infrastructure such as the National Inter-Bank Settlement System (NIBSS) also provides strong support for the industry. Nigeria currently has over 141 million internet users, with about 60% of the population having internet access, providing a huge potential user base for online gambling platforms.
It is worth noting that this $500 million is only the estimated revenue from the online gambling sector and does not include data from traditional gambling businesses such as offline casinos and lottery stations. Analysts expect that the overall size of Nigeria's gambling industry is much more substantial and will continue to expand in the future.
With a growing young population and increasingly widespread digital technology, Nigeria's online gambling not only maintains a high growth momentum but is also expected to lead a new trend in the integration of online entertainment and financial technology in Africa. With the combination of technological and demographic dividends, this West African country is quietly becoming a new growth pole in the global gambling industry.
