1xBet acquires five-year National Licence for Nigeria

1xBet wants to “set new standards of betting culture” in Africa after being granted a full National Licence to operate its sports betting brand in Nigeria until 2024.

The licence strengthens the African presence for 1xBet – a long-term supporter of Nigerian football and and an official sponsor of the Confédération Africaine de Football (CAF). 

1xBet is the registered trademark name of Beaufortbet Nigeria Limited, whose CEO Dr. Oluwafemi Babalolais is pictured (right) with Lanre Gbajabiamila, Director General of the National Lottery Regulatory Commission (NLRC) – the organisation responsible for issuing the National Licence.

“We are well aware of Nigeria’s position as a renowned football-focused market,” 1xBet explained. “In 2018 we signed a partnership agreement with the Nigeria Football Federation, the Nigeria national football team, as well as the Nigerian Premier League.

“In addition, we are official partners of the African Confederation of Football and the largest club tournaments of the continent. We have accumulated considerable experience while working with top football clubs such as Barcelona. 

“Therefore, we not only offer Nigerian fans a wide range of betting options, but also a sense of involvement in the victories of their favourite teams. Football fans can be sure of 1xBet, where they always have a winning chance alongside their favourite clubs.”

As one of the leading operators now licensed in the country, 1xBet is keen to showcase how it will offer the Nigerian sports fans one of the widest lines of sports betting as well as odds on world of cinema, music, politics and other areas of life. 

Commenting on how this new licence will allow the brand to work more with local partners, the 1xBet team explained: “1xBet has decided to establish ourselves in Africa as we feel we have something valuable to offer the African betting market including players and affiliates.  

“With over 1000 events offered daily across more than 60 sports, the 1xBet experience is an exciting world of betting enjoyment. We also have a great selection of online games. All this means that everyone can find viable options to make money.  We want to give everyone who is legally able to place bets access to earning potential and look forward to finding interesting new partners in Nigeria with like-minded goals.”

The National Licence will position the 1xBet brand to legitimately operate in any part of the country, including in all the states and local government areas, broadening the company’s footprint across Africa. 

“In addition to Nigeria, on the African continent we work in Ghana, Senegal, Uganda, DR Congo, Cameroon, Zambia and Burundi,” the 1xBet team continued. “We have big plans for the region and consider Africa a very promising continent, where the number of fans of betting in general, and our company in particular, is constantly growing.”

Following headlines about betting on the continent in 2019, there is a renewed focus on responsible gaming across Africa, something which 1xBet is keen to drive forward with its unique position as one of the only full National Licence holders in Nigeria. 

“1xBet is a supporter of responsible betting,” it said. “We comply with the laws of each country in which we operate. Given that our licence to work in Nigeria is valid until 2024, in the next five years we want to set new standards of betting culture. We will teach fans that with 1xBet they play according to simple and understandable rules that must be observed.

“In addition to the financial regulatory body’s transaction limit in Nigeria, and our concerted efforts to drastically reduce gaming addiction, we have also implemented a spending limit on our platform to further promote responsible gaming. Also, we ensure regular 1xBet attendance at various seminars of the regulatory authorities on responsible gaming.”

1xBet will be commencing its meetings with regulators and operators from Nigeria and other African countries at ICE London 2020, where it will be attending a dedicated ICE Africa networking breakfast as well as delivering its expansion strategy in full.  

“We have a strong presence in many countries spread over continents around the world, so there will be a lot to showcase at ICE London,” 1xBet concluded. “In regards to Nigeria, we will be using our position as National Licence holder to highlight the fact that we are a fully compliant brand in the sports betting industry.

“Our intention at ICE London 2020 is to promote 1xBet as an operator who brings their same level of established excellence to Nigeria as well as other African countries. 

“We will also promote 1xBet’s wide range of betting options to the African market and beyond whilst sharing our vision for 2020 and what exciting upcoming events and industry related news we have to offer. The thrust of our message will be that by joining 1xBet you will always be riding the crest of a wave.”

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