If 2020 was the year you thought gambling was prevalent, 2021 will be a year it will go to a notch higher!

In the last 24 months, more gambling companies have set upĀ in Nigeria than in the last 10 years combined. For many reasons, the trend is understandable but interesting given the fact that the country used to have fewer lottery and gambling providers.

A major factor favoring new entrants is the lower barrier to entry, nearly-zero regulatory bottlenecks and the leverage on web and mobile technology to deliver their services to a teeming population of bettors.

In 2021 and as the pandemic starts receding, many more gaming companies are poised to enter the market in the chase of market share and revenue.

The media industry is poised to benefit from a stronger gaming sector, however, more investment would go digital with less focus on offline channels.

FACT: Lottery and sport betting companies generated nearly $3 billion in revenue for 2019. Impact of COVID-19 crashed revenue for 2020 to about $2 billion.

To learn more on how you can win the race of gaming or build a brand in this hot category, talk to us via email: info@sbimedia.com.ng