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Africa

Nigerian FG Proposes Introduction of Tax Scheme on Sports Betting

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The Nigerian Federal Government is proposing to introduce a sports betting industry tax scheme in the country.

The executive secretary of the National Lottery Trust Fund (NLTF), Bello Maigari, on Tuesday said Nigerians spend billions of dollars on betting each year despite the economic hardship in the country.

Maigari said this at the second edition of the ongoing biennial national gaming conference which was organised by the National Lottery Regulatory Commission (NLRC) in Lagos.

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The NLTF chief in his address at the conference further said that the online sports betting sector in Nigeria has so far witnessed exponential growth.

“It is not out of place to look at some statistics that underscore the significance of this industry and situate its centrality in promoting the renewed hope agenda of this Administration,” he said.

“As of my last knowledge update in September 2021, the global online betting market was estimated to be worth over $50 billion, and it has continued to grow significantly since then.

“In Nigeria, the online betting sector has seen exponential growth, with millions of citizens engaging in various forms of online gaming and betting.

“With a population of over 200 million people and the largest betting market in Africa, our country is making giant strides in the world of online sports betting.

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“Currently, there are over 65 million Nigerians actively engaging in this activity, spending 15 USD on average every day. It is on record, each day, 14 million bet takes and payments are made online in our country.”

Maigari disclosed that the revenue from the online betting sector alone in Nigeria is projected to reach over $256 million by the end of the year 2023.

He stated that this is expected to experience an annual growth rate of nearly 10% to reach more than $366 million by the year 2027.

Maigari further called on the Federal Government should create a framework that can encourage the sports betting industry to start paying taxes in Nigeria.

“Moreover, leveraging the gaming and betting industry as a tax contributor can help create a level playing field for both local and international operators,” he said.

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“By establishing clear and equitable tax regulations, we can encourage foreign players to operate within our regulatory framework, ensuring that we benefit from their presence whilst safeguarding our citizens.

“The importance for taxation of this sector cannot be over-emphasized.”

Africa

3 Oaks Gaming to enter South Africa with Supabets

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iGaming distributor to extend global presence with latest regulated market push

3 Oaks Gaming, an established distributor of iGaming content, is set to go live in the South African iGaming market through a partnership with leading operator, Supabets.

With this collaboration, 3 Oaks Gaming’s diverse portfolio of games will be accessible to players on Supabets’ online platform. Users will soon be able to enjoy a plethora of top-performing titles from the iGaming distributor, including Sun of Egypt 3: Hold and Win, Green Chili: Hold and Win, and Aztec Fire: Hold and Win.

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Founded in 2008, Supabets has established itself as one of the premium brands in the region, providing its customers with a comprehensive range of sports betting markets and wide selection of casino games.

This latest news is set to reinforce 3 Oaks Gaming’s strategic vision for global expansion. Venturing into the African continent for the first time significantly broadens the supplier’s audience reach, signalling a new era of commercial growth.

Sebastian Damian, Managing Director of 3 Oaks Gaming, said: “This marks a pivotal moment for our company as we prepare for our content to seamlessly integrate with Supabets, enriching the gaming experience for South African players.

“We are confident that our games will leave a lasting impression, and we eagerly anticipate the journey ahead with our esteemed partner.”

Bavu Mpama, Head of Product at Supabets, said: “3 Oaks Gaming offers an extensive collection of slots that we believe will captivate and entertain our users. This collaboration is part of our commitment to continuously enhance our casino offering for our players.

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“We’re poised to redefine the iGaming landscape in South Africa, setting new benchmarks for excellence in the industry.”

The post 3 Oaks Gaming to enter South Africa with Supabets appeared first on European Gaming Industry News.

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Africa

Kiron Interactive strengthens Ethiopian performance with Hulu Sport deal

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Kiron Interactive, a leading provider of virtual sports and numbers games, has announced the expansion of its partnership with Hulu Sport, a tier-one operator in Ethiopia, with the launch of its innovative Mobile Lite Football Leagues product.

The new offering, known as the Hulu League, is an extension of Kiron’s existing partnership with Hulu Sport, which already includes the integration of Kiron’s products in the operator’s retail and online channels via its omnichannel Betman platform.

Mobile Lite Football Leagues is a tailored version of Kiron’s popular virtual football product, designed specifically for mobile devices in markets with limited bandwidth. The game offers an immersive and engaging virtual football experience, complete with a wide range of betting markets while requiring a fraction of the regular data consumption.

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The Hulu League launch will significantly boost Hulu Sport’s mobile offering, providing its players with a unique, entertaining and data-light virtual football betting experience that Kiron Interactive is renowned for in the industry.

Steven Spartinos, Kiron Co-CEO, said: “We are honoured to extend our partnership with Hulu Sport, one of Ethiopia’s leading operators. The launch of the Hulu League demonstrates our commitment to delivering innovative and tailored products that meet the specific needs of our partners and their players.

“We look forward to working closely with the Hulu Sport team to ensure the success of this new bespoke offering and to exploring further opportunities to enhance their product portfolio with our cutting-edge virtual sports content.”

Kibrom Gebremeskel, Deputy General Manager at Hulegeb Online Solution, said: “We are excited to expand our partnership with Kiron Interactive and bring the engaging Hulu League virtual football product to more players in Ethiopia. This innovative offering perfectly complements our existing sports betting portfolio and provides our customers with a unique and immersive gaming experience.

“Kiron’s Mobile Lite Football Leagues product has been tailored to meet the specific needs of our market, and we are confident that it will be a major hit with our players. We look forward to working closely with the Kiron team to maximise the potential of this new content and to further strengthen our position as a leading operator in the Ethiopian market.”

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The post Kiron Interactive strengthens Ethiopian performance with Hulu Sport deal appeared first on European Gaming Industry News.

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Hub88 partners with LiveGames to enhance content offering

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Hub88 has partnered with live casino supplier LiveGames, further strengthening its product offering by adding a unique range of content to its platform.

LiveGames provides fully customisable online live dealer games and branded tables including the first vertical roulette table in the sector, along with crash games and the widely played Tombola.

The supplier delivers experiences with a player-focused design, easy to use mobile interface, and high-resolution broadcasts.

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The partnership will support LiveGames’ goal to further expand in international markets, including Africa, Asia, and Latin America where Hub88 has a strong presence.

The deal showcases Hub88’s commitment to grow its ecosystem of partners, offering a diverse portfolio of products and content.

Ollie Castleman, Head of Hub88, said: “We’re thrilled to unveil this strategic partnership with LiveGames which sees us add a great provider to our platform, one that utilises modern technology to offer bespoke and personalised gaming experiences to players.

“We are looking forward to collaborating and strengthening our content library with their diverse games.”

The LiveGames Team said: “Our journey started in a small studio and as a team, we are excited about now expanding to every corner of the world together with Hub88 and their extensive operator network.

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“We are committed to promoting innovation in the industry and this partnership will support us on that mission.”

The post Hub88 partners with LiveGames to enhance content offering appeared first on European Gaming Industry News.

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