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In this case, the table must be horizontally scrolled left to right to view all of the information. Reporting firms send Tuesday open interest data on Wednesday morning. Market Data powered by Barchart Solutions. Https:// Rights Reserved. Volume: The total number of shares or contracts traded in the current trading session. You can re-sort the page by clicking on any of the column headings in the table.

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Betting business in nigeria investors

They make the million; you lose your shirt. It targets the poor and keeps them poor while a bunch of billionaires harvests capital from the ghetto. Save your money in a high yield savings account. I wrote this thread because a significant percentage of the men at the Village Fire seminar in Nairobi mentioned sport betting as one of their investment vehicles.

You will eventually lose everything. In a brief tweet, Alabi told Oyedeji that sports betting is a form of entertainment and not a form of investment. He went further to accuse Oyedeji of merely seeking attention with his thread. It is gambling. A form of entertainment. Your personal information on the fake site might be exploited to steal your identity! Scamdicappers Scamdicappers acting as real sports handicappers are here to take advantage of people!

Cyber criminals communicate with unwary users, creating rapport through direct conversations before seeking payments or bank account details, taking advantage of the natural trust that social networks generate between users. Soliciting money, forming betting syndicates, and selling prediction software are some of the most common betting scams on social media. Investment scams resemble the common money-flipping scams that abound on social media.

They necessitate an instant commitment with the promise of significantly higher returns than the initial money. To prevent possible credit card claims once identified, most online betting scams require the user to send money through wire transfer or to share direct account information. Individuals are not the only ones who may be targeted; by presenting these scams as business opportunities, entire organizations can be targeted.

Betting Syndicates Another popular social media scam involves betting syndicates. Scammers, like scamdicappers, utilize social media to persuade you to join their professional betting syndicate. These scam activities claim that you will be invited to join a pool of bettors and that an expert will place your bets on your behalf. In these scams, you will be requested to pay money up front with regular installments over time in exchange for a share of the profits.

In actuality, you will never see a return on your investment and will lose all of the money you put in up front. The proliferation of hacked and impersonated accounts appearing on social media, which serve as the foundation for many sports betting scams, exacerbates the problem.

An unsolicited phone call, email, or letter can also be used to contact people. Protection From Sports Betting Scams in Nigeria Scammers have attempted to exploit legitimate bettors and their money for as long as sports betting has existed. With the growing use of social media and digital platforms, these scams have gotten more prevalent and complex.

To protect yourself and your business, be aware of warning flags before participating with any betting entity. Here are some recommendations: Never share sensitive financial or personally identifiable information PII on social media. Legitimate companies should never request that you send sensitive information over social media platforms; be suspicious of any account that requests this.

If an offer appears to be too good to be true, it almost certainly is. Instant or guaranteed profits are a warning sign, especially when it comes to something as unpredictable as sports betting, where there is no assurance of success. As with any online activity, conduct research and use caution while interacting with posts and profiles. If you notice fraudulent or malicious behavior, the Nigerian law enforcement authorities encourage anybody with knowledge about illicit sports betting operations to come forward and report it.

Phishing assaults, which have increased rapidly in recent years, are a common denominator in most betting scams. Whether you are a professional gambler or not, anybody may profit from learning more about these sorts of attacks because they present cyber criminals with an abundant opportunities. While phishing attacks are not new, their number and complexity have increased to the point that even the most inept threat actors may deploy these approaches successfully.

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As said earlier, its a win or lose game. Sports betting is a game of luck. Usually, you can either register your business as a business name or limited liability company. If you are starting a small business in Nigeria, it is always advisable to register as a business name then later upgrade to a limited liability company as you grow. But, sports betting is not one of the businesses you can register as a business name. So, it is imperative to know that starting a sports betting business is capital intensive.

However, due to the peculiarity of the sports betting business, I will advise you use a professional. One of the firms you can trust with any business registration in Nigeria is ReDahlia. You can send all the registration requirements to them via email and once your certificate is ready, they will have it delivered to your location. With your registration certificate, you will be able to open a corporate account for your sports betting company, and also get your Tax Payers ID.

There are several regulators in Nigeria to get approval from. Furthermore, you are required to visit the National Lottery Commissions of Nigeria to apply and obtain a license. Registering under an established betting company as a franchise will reduce your startup cost.

A franchise gives you the privilege to ride on the established reputation of the company. You can use their name, logo, and betting software. If you choose this option, all you need to do is pay a franchise fee. Research the best betting company to register with as each of them have their commission rates.

Here are some of the popular betting companies you can register with: Bet9ja. Nairabet Nairabet is the first online sports betting website in Nigeria. It was founded by Otunba Akin Alabi. You can find its headquarters in Lagos State and their shops are scattered across Nigeria. The company offers different types of betting including: tennis, football, rugby, cricket, basketball, volleyball, ice hockey, darts and handball. Bet This is a British online gambling company based in the United Kingdom.

Globally, Bet has more than 45 million customers and employs around 4, people. Betway This is also a leading online and mobile sports betting platform. It began in and since then, it has been the favorite of many because of its user friendly interface and exceptional customer support. Note, these are not the only betting companies in Nigeria. You can conduct your research to select the one you are more comfortable registering with.

So, rent a suitable office where you will carry out your business transactions. Renting an office facility is not limited to bookmakers or promoters pool , it applies to agents as well. All these equipment are relevant to the success of your sporting business. But if you can afford new ones, get them as they last better and comes with a warranty. In addition, you should also factor in internet cost in your expenses. The betting software is where all the business transactions will be carried out and regulated.

Hence, take your time to select a good software provider. Sports Betting is extremely profitable, especially in a country like Nigeria. How profitable is a betting shop? With a thriving youth population actively involved in sports betting, the profitability of betting shops in Nigeria is by far unquestionable.

Punters spend an average of on betting because of the unifying power of football. Here are some of the processes to starting an online sport betting business Invest in professional software This is probably the most important decision you will make when starting your business. It is essential that you do proper research as this will be a long-term partnership.

You want to choose a software provider that has a deep understanding of the online gaming industry and has launched successful online betting platforms. Choose a reliable payment system provider Your winning punters are going to have to be paid when they win, hence you must make a proper agreement with a payment service provider. Ensure you have several options so it is convenient for your punters. Also, remember to have clearly stated terms and conditions.

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At national level, legal experts stated that the National Lottery Regulatory Commission NLRC regulates the operations of lottery businesses by issuing licenses and permits; setting standards, guidelines and rules; and promoting transparency and integrity in the operations of lottery businesses in Nigeria. Technically, entrepreneurs that have interest in operating a lottery or sport betting business must meet these requirements to be granted licence.

In addition to licence, there is requirement for financial and content demand by local and national regulators. As explained by Pavestone, this amount is merely the minimum value of the company shares at the time of registration and shareholders are not required to make financial contributions to this amount.

Satisfying this requirement means that the business must be registered with the corporate affair commission CAC with N20m as minimum capital. Also, there is a local content requirement for operating an OSB business in Lagos. The promoter of the business would then be required to apply for licence.

Upon submission of the application, the Lagos State Lotteries Board will conduct due diligence on the application which will take a minimum of 15 working days. After a successful presentation and upon satisfactory fulfilment of the pre-approval requirements, the Licence fee of N50m is to be paid. With the few number of bookmakers sports betting companies available it is not too late to start your own sports betting company.

The rules for making money as a sports betting agent are simple. You make money from your business anytime bookies make money too. And the truth is that bookies make money every second as a result of the huge number of people staking games here and there on a daily basis. As a sports betting agent, you earn money either from the total amount of money people lose or based on a fixed commission from your sales. You will have to run the business from secondary income sources until it can sustain itself.

Betting companies pay commissions based on sales, and sometimes, net-profit made. The net profit is the difference between the gross sales and gross winnings over a period. Learn the Skills One who intends to open a betting shop needs to have full knowledge of using simple computer software programmes and importantly how to run a business.

Get the Certificates And Licensing for Betting Shop In Nigeria To begin in the sports betting business, you will need to sign up for a franchise with a betting company. This will allow you to use the company software, name, logo, and reputation which will help in reducing your risks as a newcomer.

Most betting companies will require you fill out an online form beforehand. Each betting company comes with its own unique guidelines commission rates etc. Finance needed for Betting Shop In Nigeria Conservatively, you will need between , to , to set up, depending on your location. At least, there must be startup fund of that range for better setup of the shop. Try to go for a 12ft by 15ft or larger shop.

The bigger the better as your customers will be comfortable while waiting for their turns. Laptops or Desktop computers: A 10ft x 6ft x 1ft counter made of wood. This helps to separate your cashiers attendants from your punters customers.

A banner to advertise your business. An accounting software on their platform. Technology Needed for Betting Shop In Nigeria It is recommended that in choosing an internet modem, you go with any of the LTE providers as faster speed equals faster money making.

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Sep 04,  · With a thriving youth population actively involved in sports betting, the profitability of betting shops in Nigeria is by far unquestionable. Punters spend an average of on . Aug 18,  · Sport betting is now a multi-billion naira business in Nigeria at the moment and the industry is growing. Nigerians of all ranks say it is a youth empowerment program. Like it . Mar 24,  · Africa Betting Company Nigeria Ltd; KC Gaming Ltd; AlphaGram West Africa Ltd; Sporty Internet Limited; Promoserve Inter Links Ltd; Digi Bay Limited; Over the Top .