Many Nigerians are drawn to gambling, particularly when it comes to participating in different forms of online betting. Be it playing games at an online crypto casino or placing bets in sports books, Nigerians have shown that they have a love for gambling, and it’s evident that there are no indications of it slowing down.
Africa is among crypto’s economic top performers, therefore many have decided to use cryptocurrency in order to safeguard their assets or get many advantages that traditional money can’t offer them.
Based on recent research carried out towards the end of the year 2021, it was discovered that Nigeria had an 24.2 percent rate of adoption with relation to cryptocurrency which makes Nigeria the nation with the highest level of adoption for ownership in the globe.
What are the main reasons behind the boom in crypto-gambling?
There are numerous possible reasons as to why there’s been a growth in crypto-gaming within Nigeria however it will be hard to determine the reason beyond the adoration the nation has with the entire industry.
The industry has been able to benefit in many ways throughout the years as a result of the enthusiasm Nigerians have for gambling, with many jobs being created as a result of the popularity that physical and online casinos enjoy in the nation.
But, looking at the virtual side of online gaming as well as the usage of cryptocurrency there are several significant factors that can be considered to have had an influential and important role in helping the industry expand at the rate it has.
First of all it is that the African nation has invested large sums of money in infrastructure and services across the country, including internet services. This has certainly contributed to aiding the growth of the industry and growth, particularly since the rate of adoption of cryptocurrency is still in the high tiers.
Many have benefited from the growing internet connectivity to be able to play one of their most loved activities and to incorporate it into virtual currency. There are many BNB Crypto slot games accessible, as well as classic table games that let Nigerians to build up the amount of money of their winnings, while also enjoying the benefits that are accessible when playing with virtual assets, which fiat currency is not able to offer.
Gambling is thriving in Nigeria
Nigeria has a rich tradition and a strong connection to gambling, and it shouldn’t come as a surprise to observe that the online gambling industry is flourishing.
It was discovered through information gathered that the country has the highest share of the gambling market according to GGR for the sub-Saharan regions around 7% of the total on the continent.
Gambling online is extremely popular with sports betting as the most significant contributor to this and it has been observed in the past that Nigerians continue to put aside about $2 billion on sporting bets every year. 2014 saw approximately 30% of Nigeria’s population placing bets on sports every day!
The crypto gambling industry was always expected to flourish in Nigeria due to the enthusiasm that the nation is possessed by gambling as well as crypto with regards to its acceptance rate and the extent to which they’ve already accepted it. However, this shouldn’t be seen as just the beginning because we anticipate the two industries to expand even further in the near future.