There is a rapid rise in online sports betting and gambling business in Nigeria and there are more still been established. Sports betting companies are rapidly becoming popular and highly profitable in Nigeria with thousands of Nigerians betting their stakes daily. If you are wondering How to Start Online Sports Betting and Gambling Business in Nigeria, you have come to the right place where you will get the complete guide to establishing your own online sport betting and gambling business.
HOW TO START ONLINE SPORTS BETTING AND GAMBLING BUSINESS IN NIGERIA
Nigeria is flooded with several online sport betting and gambling businesses including online poker, casino games, and sports betting with more and more operators entering the market. If you are interested to dive into this business and literarily have no idea on How to Start Online Sports Betting and Gambling Business in Nigeria, we have highlighted some of the vital steps that will help you successfully launch your online sports betting and gambling business.
- Register Your Sport Betting Company
- Get professional betting software
- Acquire the necessary licenses
- Choose a payment system provider
- Build and launch your betting website
- Franchise or Open Multiples of Outlets
- Promote Your Sport Betting Company
- #1. Register Your Sport Betting Company
The Corporate Affairs Commission (CAC) is the agency in charge of registering new companies to be established in Nigeria, so you have to contact them for that purpose. You can register either as a business name or as a limited liability company. The process normally should not exit 2 weeks and you will be given your certificate of incorporation. Then, you will be able to open a corporate account with your business name and apply and get tax payers ID.
- #2. Get Professional Betting Software
As you continue to ponder on How to Start Online Sports Betting and Gambling Business in Nigeria, the next and also one of the vital step on the list is to get a professional betting software. You need to research the betting software that you can easily get used to and enter a long-term partnership with the sports betting software provider. Don’t be in a rush and let anxiety to cloud your judgment but take your time to assess the betting software to find out quality of services as well as the price.
- #3. Acquire the Necessary Licenses
Another necessary step to follow is to apply for and acquire the necessary licenses that so that you can have the legal permit to setup your betting business. This will require the approval from several operators such as the National Lottery Commissions of Nigeria (the regulating body of the industry) to apply and obtain a license. Other regulation body that you will have to visit includes Nigerian Investment Promotion Commission (NIPC), Special Control Unit against Money Laundering (SCUML), and the National Office for Technology Acquisition and Promotion (NOTAP).
- #4. Choose a Payment System Provider
Choosing a Payment System Provider is another step you cannot undermine. It is one of the prerequisite when you want to start your online sports betting and gambling business which requires you to make an agreement with a payment service provider, so that transactions can be easily made and very fast as well. In addition, even though cash on deck is welcomed, it is important that for convenience sake, you provide multiple payment options for users.
- #5. Build and Launch your Betting Website
Taking us further as we continue to provide you with steps that will help you on How to Start Online Sports Betting and Gambling Business in Nigeria, you need to design your official betting website. This also is nonnegotiable if you are serious about starting your own online sports betting and gambling business in Nigeria. Having your official website makes it easy for players to easily visit and know exactly how your sports betting company operates. Also, you will be able to notify players and the public of current events that is happening in your betting company especially daily winners and other information that will wet their appetite.
- #6. Franchise or Open Multiples of Outlets
Once your online sports betting and gambling business is up and running, ensures you try and expand by opening multiple outlets in different locations nationwide. The more business outlets and franchisee you have the more money you make. The major reason for doing this is to let you get closer to your clients who wouldn’t have to cover far distance before they can locate your business which in turn will lead to higher ROI.
- #7. Promote Your Sport Betting Company
Lastly bur also very important is promoting your online sports betting and gambling business. There is a stiff competition in the industry with several sports betting and gambling businesses available in the market. That is the more reason why you need to invest in sales promotion that will help announce your company. Employ different means as your finance can make you including conventional and social media adverts. Leave no stone unturned to popularize your sports betting business so as to create vast awareness. Also, make use of different marketing strategies that will attract clients to visit your business including sponsoring sport programs on radio and TV station, placing of adverts on National newspapers, amongst other.
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Conclusion on the How to Start Online Sports Betting and Gambling Business in Nigeria
That is the much detail we can provide you on How to Start Online Sports Betting and Gambling Business in Nigeria. An online sport betting and gambling business is no doubt a booming business but it requires a lot of time and resources to make it grow and be people’s favorite. Nonetheless, the profit you will rake in on daily or monthly basis is worth the effort.
We hope you had fun reading through and have been enlightened on steps to take to establish your own online sports betting and gambling business in Nigeria. Ensure to give us feedback.
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