How to Become a Sports Betting Agent in Nigeria 2024

Are you aware of a unique and profitable business that can make you an incredible agent?

Nigeria has a lot of betting networks that can offer you a favourable profit and becoming an agent of one of them can help you get your desired return on investment as you can if there is a loss or win.

The growth of Nigeria’s betting company is a result of its large population that has access to the internet and it is regulated by the National Lottery Regulatory Commission.

Sports betting is a profitable business in Nigeria that enables Nigerian football fans to earn money from what they support and love. It is an activity of placing a wager also known as a bet on the outcome of a predicted sports result, to win additional money.

The outcome of this bet is that one either win a profit based on the bookmaker odds or loses all his wager.

Sports bet was introduced in 2009 by Akin Alabi who is the creator of Nairabet, the Nigerians first online sports business. Other betting websites came up with the launching of the 1960sbet by Dotun Ajegbile.

Bet9ja was then officially launched in 2012 with its strategy of targeting viewing centre’s and supporting them with materials and training where necessary.

Most people are involved in betting on losing or winning for certain teams but have you had this thought of becoming a betting agent and the owner of a betting agency and not just a player?

Sports Betting Agent

Do you know that you can make betting easy for people by helping them have an account with you and saving them the stress of making multiple accounts?

Well, being a professional betting agent or broker serves as an intermediary between the various bookmakers and the people that places the bet.

A betting agent helps bettors or punters open betting accounts to the trusted and reliable bookmarkers on the market.

In simple terms, a betting agent is a person or an agency that makes betting easy for bettors and they do this by enabling bettors to bet through them because they have an account with multiple bookies.

They are of importance to bettors because some agents help people get the best odds with higher limits for their bets and they help in providing bookmakers that don’t accept players from the same location as the bettors.

Benefits of Becoming a Betting Agent

Being an agent provides you with exciting benefits like:

• Receiving a certain percentage of commission as a result of your turnovers.
• Generating money whenever you print a bet slip.
• Receiving commissions when your cashiers are used in registering either online or mobile.
• You tend to earn a steady income.
• You have less risk or liability for winning bets as you do not have the risk of the company’s loss.
• Support in handling technical issues.

Launching a Sports Betting Business

Here are the things to consider before starting sports betting business in Nigeria.

There are some things you need to know and some questions to be asked before going into the business because starting up something new can be difficult.

You need tips on how to get started to be well-positioned in it.

This piece will provide you with hints on what you need to know about being a betting agent and how to become a successful betting agent in Nigeria.

Target Market

Your target market for starting a betting business and location.

It is important to know the type of market a sports betting operator tends to be active in, how large is a sport betting in the target market and how well do people know sport betting in the market.

In starting this business, you need to look into the rules guiding most of these betting companies in Nigeria and you also need to take a survey of all the betting companies that you can find around your location.

With that, you will be able to know the best choice of the market to register with as some agents aren’t successful due to wrong choices.

Location

Another thing to put into consideration is the location of your company as there are lots of betting companies like Nairabet, Bet9ja, 1960bets in different locations.

You don’t go into any of this just because customers love them or it is the most talked about. You need to situate your own in an area where there is no existing betting shop.

For instance, if you want to become an agent for Bet9ja, your company should be located in an area you can only get to find another same company after a 15-20mins walk.

Sports Betting Website in Nigeria

Here is the list of some of the betting sites in Nigeria with a large number of punters. This will help you know the right one for you and your preferred location:

Bet9ja

It is one of the most popular and accepted betting sites in Nigeria according to ranking. Their shops are all over the country as their site is one with the highest odds and attractive commission.

Being an agent of this company, you tend to have more new customers because of its popularity and you enjoy the benefits of steady income.

In becoming a Bet9ja agent, you will need a registration fee of about ₦50,000 – ₦80,000 and in return, you get a commission between 2%-20% weekly depending on the number of bet slip accumulated.

You can also stand a chance to be paid within 24-48hours.

Ensure the distance between your shop and the next similar shop is about 15-20mins walk.

Nairabet.com

Otunba Akin Alabi, a popularly known Nigerian entrepreneur started this platform and it is the Nigerians first online sports betting website. A registration fee of ₦25,000 is required to be paid before you can become n gent of the site.

You should also ensure the distance between your shop and the next should be about 10mins to 15mins walk.

The benefit that comes with being an agent of this site is that you get a commission of 35% weekly or 50% monthly with excellent pay in 24 hours.

Sportybet.com

It is a new Nigerian betting site and to become an agent, you will need a registration fee of about ₦10,000- ₦100, 000.

The commission is about 10%-15% on total sales weekly and you get your pay in 24hours.

Ensure the distance between your shop and the next is about 15-20 mins walk.

Betking

It is the fastest growing betting company in Nigeria and it has several physical shops across all states of the country. Being an agent of Betking, you get to enjoy the benefits they offer as :

They have one of the best software used in betting.

They support their clients with popular sports that have more than 5000 events.

They get to train your staff before you open your shops.

You can register with as low as ₦25,000 and your commissions will be paid within a day.

Betway

With Betway, you can get low minimum bet requirements with large payouts as it aims to offer dynamic easy to use betting products that Nigerians can access to win big off of small bets.

Requirements to Become a Sports Betting Agent

Here are the requirements to become a sports betting agent in Nigeria;

• Choose A Professional Betting Software
• Get The Necessary License
• Choose A Payment System Provider
• Invest in an Attractive Betting Website
• Risk Management
• Internal Risk Management
• Get A Shop in A Busy Area
• Get at Least 3 Laptops and Monitor
• Get A Printer and A Noticeboard
• Constant Power Supply
• Fast Internet Connection

Choose A Professional Betting Software

It is crucial to know and choose a software provider that understands the game industry and has experience in launching online betting platforms.

You have to make research and evaluate the different options based on the price and quality of their services offered as you are getting involved in a long term partnership with your sports betting software provider.

Get The Necessary License

You need to ask questions on the regulation of sports betting in a target market. It is known that there is usually a state-regulated licensing process that needs to be done when a market is regulated.

A betting agent needs to obtain a license to be able to offer its services legally. This license varies from country to country and can be gotten from the relevant authority in a particular country.

Choose A Payment System Provider

Putting the settlement of your punters into consideration is another crucial thing to do as they will be paid upon winning. So, an agreement with your payment service provider is necessary to make transactions easier for you and your players. It is important to make several payments options available for your players with your stated terms and conditions.

Invest in an Attractive Betting Website

Most people use their phones to access the internet, so a major way of improving your business is by investing in an attractive website that responds well on mobile.

You also need to invest in your front end development as it is an aspect for your players when choosing among several similar betting websites.

Risk Management

Trained bookmarkers can manage the risk of a company thereby ensuring its security.

Risk management processes are something important to ensure the stability of every sports betting operation and they must be well planned and carried out carefully.

Internal Risk Management

Here, the internal risk management processes should be supported by sports betting software and you can meet the requirements for risk management with the involvement of your team of trained bookmarkers and risk managers.

After putting the above into consideration the next thing to do is to meet up with the following requirements as it is important in operating this business.

Get A Shop in A Busy Area

To get more commission, you have to get a shop in a busy area, as it is where you will find lots of potential customers that can register with you and you tend to acquire more clients.

Get at Least 3 Laptops and Monitor

To make your work easier and faster, you need to get at least three laptops. This will save time in situations where you have a lot of customers waiting for you.

Get A Printer and A Noticeboard

A printer will help you in printing out sports events and sports matches that customers can bet on and you can use the notice board to paste it. Get an 80mm thermal printer because it is useful in printing out bets placed by customers and it has a cost of ₦10,000 – ₦30,000.

Constant Power Supply

You can get a generator to support your unstable Power supply as you know the situation of the country. This will help you to able to satisfy your clients and earn more money.

Fast Internet Connection

You need a modem or wifi that is subscribed. With this, you can have an internet connection that will not fail you to do a good job.

Sports Betting Online Registration

Here are the steps and items needed in registering with these websites

Betking

You need to meet the requirements of getting a shop in a location that is not close to the same existing shop as yours. You can then proceed with the registration by filling out the New Agent form and submitting it.

In the process, your documents and the location of the shop will be verified. After the registration, you need to follow up to know where your application stands by:

• Go to betking.com
• Look for query Application and click it
• Input your reference number
• Look for “check status” and click it

Bet9ja

To become an agent of Bet9ja, these are the following items that you will need :

Your documents that will be verified by the firm will be submitted

You will have to know the staff and administration and get to have a personal discussion with them.

You wait for the approval registration.

Upon approval, you will have to sign a contract with Bet9ja

Sports Betting Tips

Here are the tips you need to abide by in your bet shop to be successful

Don’t place personal bets with the company’s money, instead pay with your money and play. Although this is not necessary.

Deposit your money on daily basis in the bank to reduce cash in the shop. This will help you prevent criminals.

You should run your account daily to help you know when something is wrong with you, your staff or the company you registered with.

With these tips, running sports betting business will be an easy one for you and also help you become a successful betting agent.

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