football rules and regulations in nigeria

#Football rules and regulations in nigeria code#

It should be noted that online sports betting games are permissible, however, according to sec 2(b) the National Lottery Regulations, 2007, adverts must adhere strictly to government policies on social responsibility in designing, advertising, and marketing campaign as relates to an advertisement. The legal games are lottery, land-based casino, and sports betting. Roulette, dice games, and non-skilled card games on the other hand are illegal. The law splits the games into two categories: The legal and illegal games.

#Football rules and regulations in nigeria code#

The lottery was legalised by the National Lottery Act, 2005, and regulation of gambling and betting activities is provided for in Chapter 22 of the Criminal Code Act enacted in 1990. Gambling in Nigeria is regulated by the National Lottery Regulatory Commission (NLRC). Sports Betting/ Gambling Regulations in Nigeria

also have laws regulating sports betting and it is entirely legal in these countries. Countries like the UK, Canada, Kenya, Ghana, South Africa, etc. In the United States, asides from the states of Nevada who have had Sports betting Laws enacted since 1949, all other states have recently introduced laws to enable sports betting for the first time save for three( Idaho, Wisconsin, and Utah). Generally, online gambling is a fast-growing business with an estimated annual growth rate of 12%, according to Global Betting and Gaming Consultants (2011), and this is driven by globalization and technology. Most gambling activities are undocumented and operate at the informal levels amongst friends, colleagues, spouses, relatives, and even enemies, and could be worth as much as billions of U.S. It is also worth noting that any figure on the process of betting is merely indicative of the official gambling. Some bookmakers have speculated that the sports betting industry is now worth over one trillion U.S. dollars, while in fact the illegal betting only might be as a high as 500 billion U.S. For instance, according to Statistical Portal (2015), even though it may be difficult to accurately estimate the total value of global sports betting, due to the inconsistency in the regulatory and financing environments, responsible surveys estimate the value of sports betting industry at around 700 billion U.S. Sports’ betting is a big business globally, much so, it is now taxable and regulated as a legitimate business (Requirement of Online Sports Betting in Lagos 2015 National Sports Policy of Nigeria 2009). This is fast becoming the order in Nigeria, as fans that are “fans enough” go a step further to “stake” on the higher level of fandom and expertise in the football understanding. Fans that predict correctly are rewarded and those whose predictions were wrong to lose their monies. Typically, all the aforementioned betting companies create an open platform for prospective punters to place bets and predict the outcome of a game usually in sports though it need not be restricted to sports e.g. Some of the popular betting platforms in the country include Naijabet, Nairabet, Betway, Bet9ja, Sportybet, Merrybet, etc. Lawyers/Law Firms are Taxable Persons Liable to Pay VAT - Conclusions from Al-Masser vs. In Nigeria, the number of sports betting companies offering a variety of styles and formats seems to be growing faster. “So what exactly is sports betting? The definition of sports betting” is, placing a financial wager on the outcome of a sporting match, as well as on events that occur within the larger match or fixture. This exceptional growth can be attributed to the growing /popularity trend/interest in betting in the country, especially the number of youths, given increased access to digital telephones, successful internet penetration and increased access to internet-enabled devices coupled with having the youngest population of under 30 in Africa, the ingredients for its extraordinary success is perhaps not surprising. According to Business Wire, there are 60 million Nigerians between the ages of 18 and 40 who are involved in active sports betting, and the sports betting market in Nigeria is estimated at $2 billion. The Nigerian sports betting and gaming industry has grown astronomically in the last few years. Sports Betting and Consumer Protection in Nigeria – an article by Olayinka Suara – Associate (Sports, Entertainment and Technology Practice) Olisa Agbakoba Legal