A big change is occurring in the betting industry in Nigeria. There is an emergent, mobile-first generation that has quietly created something new – a secondary market in betting on esports.
Esports are no longer casual gaming. It is a global enterprise with professional leagues, world championships, millions of dollars in prize money and millions of fans watching live games every week.
Games such as CS2, League of Legends, Dota 2, and Valorant have audiences worldwide that can compete with most traditional sports streaming. And where bettors are, there are viewers.
There Is an Esports Growth in Nigeria
The digital space in Nigeria is growing at a faster rate compared to virtually any other region in Africa. All this can be attributed to cheap smartphones and mobile internet. Also, Nigeria is a very young nation – the majority of its population is below 25, and the median age is slightly below 20. That makes them natural-born digital natives.
Because the majority of the population in Nigeria already makes their sports betting on their smartphones, entering esports is a natural next step. You are able to stream games live, examine the statistics, and bet on everything on phones.
Although the market of esports betting in Nigeria remains smaller compared to traditional football betting, the market is steadily expanding as more people worldwide learn about esports tournaments and as more people in Nigeria start paying attention to it.
Why Bitcoin Is Gaining Attention Among Bettors
With the boom of esports in Nigeria, the question of how bettors manage their funds is evolving alongside the esports. Increasingly, they are resorting to cryptocurrency – this makes sense, since Nigeria is already among the largest crypto markets globally in terms of the frequency with which people actually use it.
Although the government in Nigeria does not consider Bitcoin money and it is not executed by regular banks, millions of Nigerians use it daily to conduct peer-to-peer and online transactions. That is why a lot of offshore crypto betting sites are currently allowing players to deposit and withdraw using Bitcoin – they are simply going where the bettors already are.
The appeal is simple:
- Conventional banking rails are not transaction-based.
- International transfers are faster.
- Offshore websites do not receive the conventional banking information of the customers.
- The crypto offers an alternative store of value in the volatile moments of local currency.
It is precisely the reason why esports betting with Bitcoin is becoming its own thing in the world of online betting. The two ecosystems have digitally native users who are at ease with money management over the internet.
Crypto-focused sites, such as CryptoManiaks, monitor this trend and rank them so that users can compare markets, security, and payment options.
It is important to note that the betting sites using crypto are most likely offshore, and a user should be conscious of the legal and financial risks of utilizing these platforms.
What Esports Betting Actually Looks Like
When you are making your first esports bet, the system will be quite familiar to you – it is similar to making a bet on regular sports.
The simplest one is to bet on the match winner: you simply choose the team that you believe will win.
However, in addition to that, esports betting creates a plethora of other possibilities, such as:
- Map winners (especially in CS2)
- Handicap markets
- Total rounds or total kills
- First objective (first tower in League of Legends)
The quality of markets available will be based on the bookmaker and the level of the tournament.
Especially popular is live betting, as the matches of esports may change the tide in a short period of time. In-play betting enables viewers to bet as the game progresses.
What to Look Out For as a Nigerian Bettor
In case of esports betting, remember the following:
- Bet on games that you know and understand. Knowing the teams, the game formats, and the way the tournaments are run is actually very helpful.
- Stick with the betting sites that cover esports and view it with seriousness, not just those that do it as an afterthought.
- You have to know how to handle your bankroll. Be careful with esports – they move so swiftly that you are likely to get carried away and make a hasty and unthinking bet.
- When you are betting with Bitcoin, do your research. You should know how to handle your wallet, minimum deposit, and precisely how to take out your winnings before ever placing a single penny in a digital wallet.
Esports Betting Is Growing Worldwide
The trend of betting on esports is going to grow at a very high pace in the next few years. They are capturing more audiences to spectate the tournaments, and the betting websites are only getting better and easier.
Nigeria will be in an ideal position to join this rise. The country has the potential of going mobile-first and has a young population, fast to adopt new digital tools, which means that in the long term, the country has serious potential, particularly regarding esports and crypto-related services.
Certainly, betting on esports is not as big as football betting is at present. However, it is certainly no longer a small, niche thing. Nigerian bettors who want something different to bet on other than the conventional sports, esports will provide the stimulus they need and a brand new method to wager.
