Gambling or exploitation? Uzokwe calls for robust regulation in Nigeria’s sports betting sector

“Online sports betting is a fast-growing industry in Nigeria, but this growth brings a range of challenges that put consumers at risk” says Dr Henry Uzokwe.

From betting shops to electronic gambling, the sports online industry has come a long way. With platforms like Betway, Nairabet and Sportybet dominating the market, just a few clicks, bettors can stake on their teams, track odds and cash out winnings instantly. This ease of access has fueled an industry boom with Nigeria at the forefront in Africa. According to Dr. Uzokwe, three out of every 10 Nigerian youth are now actively engaging in sports betting, including children. However, while millions of Nigerian consumers are drawn to the prospect of quick wealth that it presents, problems persist in the form of fraud, addiction and financial ruin.

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Dr. Uzokwe expresses serious concerns regarding the rise in criminal activities within the betting industry, particularly in recent times.  “There is the absence of fairness and transparency. Bettors trust these sites to be unbiased and legitimate, yet platforms manipulate and cancel winnings without justification. Fraud remains another major issue. Cybercriminals now set up fake betting sites to steal financial information. I have seen cases where unsuspecting bettors lose their money to cloned sites that look exactly like real betting platforms”, he said.

Phishing emails further trick users into revealing banking details, “Irresponsible gambling is also a growing problem. Stories of individuals betting away their school fees, savings and house rents are becoming alarmingly common”, Dr Uzokwe laments.

To combat these risks, steps have been taken to