The Director General of Cross Rivers State Lottery and Gaming Agency, Michael Eja had said the gambling sector generates a minimum of N600bn in revenue.
This is as Eja revealed that 60 million people representing 25.86 per cent of the 232 million population in Nigeria gamble daily.
Eja in Abuja said the N600bn is generated from 10 per cent of the gambling and lottery platform, noting that 90 per cent of the sector was untapped at the launch of Woskybet, a new sports betting platform.
He said, “The betting industry is worth about $1bn in Africa. Lagos state alone generated $243 million in revenue last year. So, gambling is coming up huge. And people are beginning to understand the essence of gambling.
“In Nigeria, presently, we are doing over N500bn to N600bn in revenue. If I am not mistaken, we have over 150 million people in the country.
“And presently, from the statistics that we have got, we know that about 60 million Nigerians gamble daily. We’ve not captured 90 per cent of that market.”
Speaking further he said, “The gaming industry sells hope, aids in wealth redistribution, and creates jobs in Nigeria.
“The government also benefits from the revenue generated by the industry. Over time, we will see an increase in the revenue that the gambling sector contributes to nation-building.”
The Director of Operations (Interim) Woskybet, Nurudeen Idrees, said the game of luck has contributed to the vast creation of wealth and jobs for Nigerian youth
Assuring Woskybet transparency in disbursing funds to winners, he said, “In terms of payment, I want to reassure our customers and the public that they should feel confident. When they win, their money is 100 per cent guaranteed because their wins are their rights.
“Woskybet is committed to providing a safe, secure, and thrilling betting experience for Nigerian sports enthusiasts”.