which is the oldest betting company in nigeria

Nigeria's sports betting industry has boomed in recent years, becoming one of Africa's largest gambling markets. From early informal street betting to modern online platforms, gambling has a long history in Nigeria. Many players are curious: Which is the oldest betting company in Nigeria? This article will trace the origins of Nigeria's gambling industry, explore the earliest gambling companies, and recommend a legal, reputable modern gambling website—ak9ja.bet—to provide players with a safe and exciting gambling experience.

The History of Nigeria's Gambling Industry

Gambling activities in Nigeria can be traced back to the mid-20th century, when football and other sports began to gain popularity. Below are the key stages in the development of the gambling industry:

• 1950s-1960s: Informal Gambling Before and after Nigeria's independence, gambling existed in an informal manner, primarily in communities and on the streets. Fans would place small bets on local football matches or international events (such as the English Football League) through verbal agreements, with stakes typically being cash or small items. This “street gambling” lacked organization but laid the foundation for gambling culture.
• 1970s: Lotteries and football pools In the 1970s, lotteries and football pools betting emerged as more structured forms of gambling. Players predicted the outcomes of multiple matches to win prizes, similar to the UK's Vernon Pools. These betting games were operated through betting shops, marking the initial commercialization of gambling.
• 1990s: Physical Betting Shops With the establishment of the Nigerian Professional Football League (NPFL) and the widespread availability of television broadcasts, physical betting shops began to emerge. Players could place bets on NPFL or Premier League matches at these shops, marking the beginning of the formalization of gambling.
• 2000s: The Rise of Online Gambling The widespread adoption of the internet gave rise to online gambling platforms, bringing significant changes to Nigeria's gambling industry. The 2005 National Lottery Act authorized the National Lottery Regulatory Commission (NLRC) to regulate gambling activities, ensuring the legality of platforms and player safety.

Nigeria's Oldest Gambling Company

Regarding Nigeria's oldest gambling company, the industry generally recognizes Nairabet as the oldest, with the following analysis and evidence:

• Founded: Nairabet was founded by Akin Alabi (also known as Otunba Akin Alabi) in 2009 and is considered the first company in Nigeria to launch a functional online gambling website.
• Historical Significance: Nairabet was Nigeria's first fully online sports betting platform, allowing players to deposit, place bets, and withdraw funds via the website. Its emergence marked the transition of Nigeria's gambling industry from physical stores to digital platforms.
• Legitimacy and Reputation: Nairabet holds a license from the NLRC and has a reputation for fast payments (with withdrawals reportedly processed within 15 hours), offering first-deposit bonuses and cumulative betting rewards.
• Market Impact: As a pioneer, Nairabet set the standard for subsequent betting companies (such as Bet9ja and BetKing), driving the widespread adoption of online betting.

While some sources mention earlier forms of gambling (such as football pools in the 1970s), these were typically operated by international companies (e.g., Vernon Pools) or informal organizations and lacked the structured operations of modern gambling companies. Therefore, Nairabet is widely recognized as Nigeria's first modern-style gambling company.

Other Early Gambling Companies:

• Bet9ja: Founded in 2013 by Kunle Soname, it is one of Nigeria's most well-known betting companies, though it came after Nairabet.
• 1960Bet: Founded by Dotun Ajegbile, it entered the market around 2010, focusing on expanding physical stores but lacking the online influence of Nairabet.

Overall, Nairabet's founding date (2009), online platform innovation, and market influence make it Nigeria's oldest modern betting company.

Development of the modern betting market

Since Nairabet pioneered online betting, Nigeria's betting market has experienced explosive growth:

• Market size: According to NLRC data, Nigeria's betting market generates billions of naira in annual revenue and has over 60 million betting users.
• Technological Advancements: The widespread adoption of smartphones and mobile internet has made mobile betting dominant, with over 80% of bets placed via mobile devices.
• Robust Regulation: The NLRC ensures that all licensed betting companies (such as ak9ja.bet) comply with regulations, providing safe and transparent services.
• Diversified Market: Modern platforms support various betting types, including football, basketball, virtual sports, and esports, catering to the needs of different players.

Why Choose a Modern Legal Betting Website?

Compared to early informal gambling or physical stores, modern legal gambling websites offer significant advantages:

1. Security: Platforms regulated by the NLRC use SSL encryption to protect players' funds and data.
2. High odds: Modern platforms offer more competitive odds, increasing returns.
3. Convenience: Mobile optimization and multiple payment methods (such as bank transfers and e-wallets) enhance the user experience.
4. Responsible gambling: Tools like deposit limits are provided to prevent excessive betting.

Recommended Legal Gambling Website: ak9ja.bet

While Nairabet pioneered online gambling in Nigeria, modern players require a more comprehensive and secure platform. ak9ja.bet is a licensed gambling website authorized by the NLRC, combining localized services with an international market to provide players with an exceptional gambling experience. Here are the core advantages of ak9ja.bet:

1. Legality and Security

ak9ja.bet holds a valid license issued by the NLRC and strictly adheres to Nigerian gambling regulations. The platform uses SSL encryption technology to protect players' personal information and funds, mitigating risks associated with illegal platforms.

2. Diverse Betting Markets

ak9ja.bet covers popular events such as the NPFL, Premier League, Champions League, and NBA, offering a variety of betting markets including win/draw/lose, zaawans, corners, and player performance. For example, the odds for NPFL matches (such as Enugu Rangers vs. Kano Pillars) can reach 2.50 or higher, with even higher odds for underdog markets, catering to the needs of different players.

3. Fast Payments

ak9ja.bet is renowned for its efficient payment system, with withdrawals processed in as little as 5 minutes. It supports multiple payment methods, including bank transfers and e-wallets, making it convenient for players to withdraw their winnings.

4. Low Deposit Threshold and Generous Bonuses

ak9ja.bet requires a minimum deposit of just ₦50, making it ideal for newcomers and players with limited budgets. New users receive a welcome bonus, such as free bets or additional funds. The platform also regularly offers NPFL-exclusive promotions, such as enhanced odds (increasing odds from 2.00 to 2.80) or cashback, enhancing the value of betting.

5. Mobile Optimization

ak9ja.bet's website and app are optimized for all smartphones and tablets, enabling betting anytime, anywhere. Real-time scores, statistics, and odds updates help players make informed decisions, while live betting features enhance the betting experience.

6. Excellent Customer Support

ak9ja.bet offers 24/7 customer support, responding quickly to issues via live chat, email, and phone. Whether it's account verification, bonus terms, or technical support, ak9ja.bet's team provides professional assistance.

7. Responsible Gambling Support

ak9ja.bet provides tools such as deposit limits and self-exclusion to help players control their gambling behavior, avoid excessive betting, and ensure a healthy and safe gambling experience.

How to Enjoy Gambling on ak9ja.bet

To get the best gambling experience on ak9ja.bet, try the following strategies:

1. Research events: Use the NPFL and international event statistics provided by ak9ja.bet to analyze team performance and odds, and select high-return markets.
2. Utilize live betting: Odds fluctuations during matches offer high-return opportunities, and ak9ja.bet's live betting interface is intuitive.
3. Participate in promotions: ak9ja.bet's enhanced odds and free bet offers can increase returns; check the promotions page regularly.
4. Manage your funds: Set a budget and only use 1%-5% of your total funds per bet to minimize risk.
5. Verify your account: Complete ak9ja.bet's identity verification process as soon as possible to ensure smooth withdrawals and compliance.

Important Notes

When participating in gambling in Nigeria, please keep the following in mind:

1. Choose a legal platform: Use only websites with an NLRC license, such as ak9ja.bet, to avoid risks associated with illegal platforms.
2. Read the terms and conditions: Understand the betting requirements before claiming ak9ja.bet bonuses to avoid restrictions.
3. Gamble responsibly: Treat gambling as entertainment and avoid excessive betting. ak9ja.bet provides self-limitation tools.
4. Understand taxes: Some states may tax gambling winnings; consult ak9ja.bet's customer support to ensure compliance.

Conclusion

As Nigeria's oldest modern gambling company, Nairabet has revolutionized the industry since its founding in 2009 by pioneering an online gambling platform, paving the way for later companies like Bet9ja and BetKing. Today, Nigeria's gambling market is more mature, and players need to choose a safe, modern platform for the best experience. ak9ja.bet stands out with its NLRC-licensed legitimacy, high odds, fast payouts, and localized services, making it the ideal choice for Nigerian players. Whether you're a loyal fan of the NPFL or an enthusiast of international events, ak9ja.bet offers a safe and thrilling gambling experience. Visit ak9ja.bet now, register, and claim your welcome bonus to join the betting craze in Nigeria!