Nigeria is one of the many African countries that is being engulfed with the epidemic of online sports betting. This includes online poker, casino games, and sports betting. The Nigerian sports betting and gaming industry has grown astronomically in the last two years. This exceptional growth can be attributed to the large population of the nation and increased access to internet devices.
Is sport betting legal in Nigeria?
All forms of gambling in Nigeria including sports betting is regulated by the National Lottery Regulatory Commission. The lottery was legalized with the National Lottery Act, 2005 and gambling is defined by Chapter 22 of the Criminal Code Act enacted in 1990. It is important to note that all forms of gambling are restricted to all citizens of Nigeria below 18 years of age.
On the state level, Lagos State has set up a body known as Lagos State Lotteries Board (LSLB). LSLB was established by the Lagos State Lotteries Laws Cap L89 2004 Laws of Lagos State and it is responsible for regulating lotteries, sports betting, scratch card & interactive games, casino, gaming machines operations, pools betting, promotional competitions and other gaming activities within Lagos State.
How profitable are sports betting business in Nigeria?
Sports betting is an extremely profitable business in Nigeria. Roughly 60 million Nigerians between the ages of 18 and 40 are involved in active sports betting. On average, these punters spend around 3,000 Naira every day on bets. Sports betting provides Nigeria football fans with the opportunity to earn money from what they love. In 2019, sport betting shops can now be spotted in almost every street in Lagos and new ones are propping up daily.
A leading report on Gambling in Africa published in 2016 by KPMG reeled out some startling numbers on the sports betting industry in Nigeria.
With a large number of options for punters in Nigeria in terms of both domestic and international betting platforms, deciding which bookmaker is the best is no easy task this is where NetBet comes in.
NetBet Sport is an online internet bookmaker specialising in sports betting. NetBet was founded in 2018, is licensed in Nigeria and is considered one of the up and coming bookmakers. They have a massive player base in Nigeria. In addition, they plan to expand their business in some countries in Africa soon.
NetBet greatest feature is their amazing payout of 100% that can reach an unbelievable 98.4% on football matches. They offer a great range of sports, alternative markets, lots of Asian handicaps and special bets. Every player can choose from at least 500 selections on every event, while this number may at times amount to 1000! Their live betting section is one of the best in the industry. This is due to the fact that every bettor can up to watch 4 different matches simultaneously, all available at full screen & high definition, while he can place his bets at the same time, by clicking on the odds that appear on the screen. Moreover, they offer a wide range of products, such as casino, live casino, e-sports and many more.
The elegantly named NetBet brand (sounds like you’ve won your bet already) is one of the most distinguished and well-established sportsbooks in the game. Established in 2018.
Today the NetBet brand is known for offering some of the best odds in the business, and, along with an unblemished track record, is also seen as one of the industry’s biggest innovators.
The brand offers excellent bonuses and incentives to new players signing up with their sportsbook as well as their casino.
This includes free bets, cash-backs, insurances, and more. While most of this is focused on their sportsbook, the brand still offers one of the most competitive casino platforms in the business, with over 700 games, including a live casino and mobile gaming options. We’re super impressed with NetBet, and you can read all about it as we unbox this mainstay sportsbook.
NetBet was founded in 2018, is licensed in Nigeria and is considered one of the up and coming bookmakers. They have a massive player base in Nigeria. In addition, they plan to expand their business in some countries in Africa soon.
Fully licensed & regulated
Is NetBet Safe? Well NetBet currently hold a gambling license granted by the Lagos State Lottery Board, so yes they are. This means that to continue to operate they must adhere to the guidelines set out in the license agreement.
Their Lagos State Lottery Board license means they must:
- Conduct all gambling in a fair and open way.
- Make sure that minors and those considered to be vulnerable are protected against gambling.
- Make available help for anyone who develops any kind of gambling related issues.
- Notify the Lagos State Lottery Board of anyone who is a shareholder in NetBet and provide the Commission with contact details for these people.
- Must notify the Lagos State Lottery Board of all measures to protect customer funds should the company cease to exist.
As one of the biggest online betting sites you’d expect NetBet to have it down when it comes to their customer support and in my experience they do. I’ve used and would recommend the following methods:
24/7 Live Chat – I’m a big fan of the live chat support available at NetBet and have used it quite a few times successfully. Often operators were available instantly, otherwise a couple of minutes wait is all I was faceed with, it’s nice to have a real human ready to respond to queries.
Email Support – another option I’ve tested is to email the customer service department at NetBet and wait for a response to my question via email. My questions sent in via email were usually responded too within a couple of hours (but it does obviously depend on how busy they are). If you can’t wait for a reply then I recommend live chat as a better option.
Deposits & Withdrawals
For obvious reasons NetBet are keen to make it as easy as possible for punters to move money into and out of their accounts.
They do a good job of both and when compared to some of the smaller or newer online bookmakers actually offer way more options on this front.
Being versatile and make life easy for punters is important to scoring a high review ranking at Cheeky Punter and once you check out what NetBet offer on this front I’m sure you’ll be impressed.
To Deposit at NetBet
I found getting money into NetBet easy, quick and simple. They accept a range of major debit and credit cards as well as various different e-wallets and online payment options.
All my deposits were free of charge and most processed instantly. Limits ranged depending on what deposit method I went for.
I was able to pull up full list of deposit options by visiting the NetBet website and scrolling to the foot of the page. I then selected ‘Payments’ if on desktop or if on mobile ‘NetBet FAQ’ and then clicked the ‘Payments’ tab.
From here you I could then select my country and currency to see what options were available.
To Withdraw From NetBet
To be able to withdraw from NetBet all I had got to do was head on over to the ‘My Account’ section.
Here I found a link for withdrawals. After clicking I selected my method of withdrawal and the amount I wanted to cash out. Depending on the method I used, I tried a few, money was wither returned instantly or took up to a few days to get back in my pocket.
No NetBet review would be complete without a look at the In-Play suite NetBet provide to all their punters…
Don’t worry before you ask yes they do cover more matches than those listed above (that’s just what’s available right now) – in fact the vast majority of the markets offered at NetBet are turned in-play. From my experience NetBet have the widest range of in-play odds and markets you’ll find anywhere on the web.
To see what’s available just hit any ‘In-Play’ link or button on the NetBet website and you’ll get to where you need to be.
In my opinion another top feature is the way you can favourite different markets in their live section. This sticks your chosen market to the top of the screen so you can see what’s happening without too much scrolling. I just clicked the star next to any market I wanted to add to my favourites and it was listed before the rest. A top quality feature, simple, yet very effective!
I’m also a big fan of the live scores and match stats in the In-Play section at NetBet, very handy for staying up to date with what’s going on live in the event. The stats provided are actually pretty in-depth, I’ve found the bigger the event the more are available, and great for things like team form or head to heads.
The NetBet bonus available when I signed up was the usual up to £100 in bet credits deal.
Here’s the steps I took to get the bonus when I opened my account:
- Register with NetBet
- Enter WELCOME200NG as bonus code and make a deposit
- Get your 100% bonus automatically on deposit
Once you have followed these 3 steps and your qualifying bet(s) has been settled the 100% bonus is credited to your bonus balance.
BIG PLUS: once I’d released my bet credits I was able to withdraw any winnings from using them straight away.
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