HOW TO START A SPORTS BETTING SHOP IN NIGERIA –KEY THINGS YOU NEED TO KNOW

The Nigerian sports betting industry has remained a vibrant business sphere since it came into inception years ago. Owing to the fact that dozens of Nigerians eagerly follow football and certain other sports, sports betting will likely remain a flourishing enterprise in Nigeria.

Moreover, Nigeria has a huge population of punters and with sports betting being a widely admired form of betting, sports betting companies in Nigeria are certain to continually rake in profit.

Sports betting shops can be found almost anywhere in Nigerian cities. With this signaling that sport betting is a thriving enterprise in Nigeria, you may want to tap into this enterprise.

This post is therefore a comprehensive guide that will walk you through how you can start a sports betting shop in Nigeria.

Steps for Starting a Sports Betting Shop in Nigeria

Find out about Your Preferred Sports Betting Company

Given that you’ve heard one or two things about the popular sports betting companies in Nigeria, it’s very predictable that you already have a particular company in mind.

Whether you already have a specific sports betting company in mind or not, it’s essential that you examine the various Nigerian sports betting companies before you eventually choose one.

Since you’ll operate as an agent for your chosen sports betting company, you really need to define your preferences and select the company that fits into such preferences. For example, you could be interested mostly in the percentage of commission that a sports betting company would pay you. In a different instance, assurance of instant payouts might be the thing that interests you most about a sports betting company.

Although you might want to go with a sports betting company that assists with the furnishing of a betting shop, the amount paid as commission is most likely what would first attract you to the company.

It’s very advisable that you run a background check on the most popular Nigerian sports betting companies before stamping your choice of betting company. You may as well seek recommendations from the existing agents of the popular sports betting companies in the country. From your rapport with such people, you’ll likely realize how profitable it is to serve as an agent for a particular sports betting company.

Obtain a Betting Franchise from the Company

Once you’ve stamped your choice of betting company, the next step in starting a sports betting shop in Nigeria is to obtain a franchise from the company. But before you can be deemed worthy of this franchise, you must have satisfied a number of prerequisites that the company is looking for.

If you want to be very sure of a particular betting company’s prerequisites, you may visit the company’s website and explore its “become an agent” tab. Exploring this tab, you should find out the company’s terms and conditions. Provided you’re satisfied with the terms and conditions spelt out by the company, you may proceed to applying as a prospective agent. Normally, you’d find the company’s application form after having scanned through the terms and conditions.

Sports betting companies usually have varying requirements/conditions that you must fulfill before they can approve your application. You’ll likely receive a reply (probably a call) from one of the staff members at the betting company you applied to. This staff member could be an account manager and he/she would guide you on the subsequent steps to take. Usually, the account manager will want to see if you fit into the company’s requirements and this, ultimately, becomes the basis for approving or rejecting your application.

As implied earlier, the requirements for the approval of applications tend to vary from one sports betting company to another. We’ll therefore advise you to look in the direction of another betting company if your application to a particular company gets rejected.

Establish a Strategic Location for the Betting Shop

This is one of the most critical aspects in starting a sports betting shop. Obviously, there’s emphasis on “strategic” because you don’t expect a betting shop to thrive in all areas irrespective of the kinds of people in those areas.

Frankly, a sports betting company is interested in the location of your betting shop as much as it is interested in your ability to run the shop. If you’ve identified an urbanized area with a great deal of young people, it’s highly believable that you have a strategic location for your betting shop. Also, you’ll have to locate the shop in an open spot from which people can notice its presence very easily.

Equip the Betting Shop

Sports betting companies want to be certain that you have both a strategic location and the required equipment for running a betting shop. It’s therefore advisable that you’ve already identified a strategic shop location and purchased the necessary equipment before applying for a betting company’s franchise.

Even if you’re yet to acquire the shop space, ensure you’ve identified the space and set aside the necessary equipment before attempting to obtain a franchise from a sports betting company.

As regards equipping a sports betting shop, the items you need are very basic. Irrespective of your preferred sports betting company, the items you’ll need for equipping your betting shop are as follows:

1. Computers (You should have a decent number of desktop computers)
2. Television sets (You should have two or more television sets. You may choose to have one TV set dedicated for displaying virtual sports matches and few other TV sets for the live broadcast of sports matches)
3. A DSTV decoder (specifically in order to broadcast live football matches going down in popular European leagues)
4. A generator set (Endeavour to have a very reliable and powerful generator that can comfortably power your choice of betting shop in the absence of PHCN power)
5. A number of comfortable chairs for your employees (cashiers)
6. Items of furniture (such as wooden benches) for customers to sit on

Hire Staff

Staff are the ones who will attend to customers (bettors) patronizing your betting shop. Therefore, you should be keen to employ friendly and responsive individuals. These individuals must be available to register customers’ betting choices as well as deal out bet slips to them.

In starting your betting shop business, you should never trivialize the aspect of staff hiring so that you don’t end up with crooked and unfriendly employees. This is because when selecting betting companies, Nigerian bettors not only consider the associated offers but also, they tend to favour the ones with friendly customer services across betting shops.

Market Your Betting Shop

When you’ve successfully registered with a sports betting company in Nigeria, you’re very likely to be provided with branding materials. You should note that such materials will be useful in marketing your betting shop. Do well to place the branding materials (such as banners) in spots where they can quickly draw people’s attention to your betting shop.

How Lucrative Is a Sports Betting Shop in Nigeria?

A sports betting shop guarantees high returns except if situated in the wrong place. Due to the myriads of people placing bets again and again, many unsuccessful bets will likely be recorded and bookies are certain to reel in profits. As bookies make profit, sports betting agents will also rake in due returns.

In Nigeria, one’s chances of making success with a sports betting shop is so high considering that gambling is allowed in the country and lots of Nigerians fancy the idea of placing bets on both virtual and real-life sports matches.

Provided you’re in a strategic location and have chosen a rewarding sports betting company, you definitely have a strong shot at making reasonable wealth from your betting shop in Nigeria.

How Much Money Do You Need to Set Up a Sports Betting Shop in Nigeria?

There is no fixed amount of money for setting up a sports betting shop in Nigeria. Notably, your startup capital can vary depending on the size and location of your shop space, and the amount of items required for adequately furnishing the shop.

Based on our estimation, you may spend as much as #500,000 if you’re keen to have a standard sports betting shop in Nigeria. Note that in this estimation, we factored in the costs of all the necessary items of equipment for furnishing the shop as well as the cost of the shop space.

Breakdown of How Sports Betting Companies Pay Their Agents

Depending on the sports betting company you’re tied to, your profit may depend on an agreed percentage of your sales. In another instance, your profit could be a percentage of the total proceeds from unsuccessful bets.

Generally, betting companies pay their agents certain commissions from the sales realized usually on a periodic basis. Merrybet (one of the popular sports betting companies in Nigeria) claims that it pays its agents as much as 50% commission from the sales made.

Bet9ja –Nigeria’s most popular sports betting company –pays its agents a 10% commission from weekly sales.

Also, a bet company may decide to determine an agent’s commission on the basis of the net profit realized. Mathematically, the net profit is calculated as the outcome of subtracting total sales and total winnings from each other. This net profit is usually calculated over a given period and the agent will be paid a fixed percentage of the difference between total winnings and total sales.

LET US CHECK OUT Bet9ja Shops in Lagos and Nigeria

Bet9ja is one of the well-known sports betting companies patronized by most punters in Nigeria. In every street or big town in Nigeria, you will find a Bet9ja shop. Many people are staking their hard-earned money with Bet9ja to win huge sums of money in return. For instance, there are lots of betting options for punters such as the team to win, how many corners in a match, the goal scorer, etc.

Steps on Becoming a Bet9ja Agent in Nigeria

There are steps to this, and they are as follow:

1. Submission of Vital Documents:

There are key things for any aspiring Bet9ja agent to submit such as biodata, the proposed shop address, valid passport, Valid ID card ( front and back), Valid driver’s license, bank statement, utility bills, tenancy agreement, and description of the business, e.g strictly a Bet9ja shop or viewing centre.

2. Checking of Location and Documents:

The process could last for up to 24 hours or not depending on the submission time of the documents. The best time to submit the documents to get a quick response is during working days. The company has to crosscheck documents for authenticity to verify either the information on the Biodata matches with the one on the documents.

3. Brief Conversation with Bet9ja Field Agent:

The head company has to send their field agent to have a brief conversation with you to know either you are capable enough to represent the company as an agent. During the process of having a conversation with the field agent, you have to be in a relaxed mood to drive away nervousness. Another reason for this chit-chat is to check your interpersonal relationship skills.

4. Verification of the Shop and Premises:

If the Bet9ja field Agent is satisfied after the brief conversation with you, the agent has to check either you have the facilities to run the shop or not. The size and location are other factors to be put into consideration by the agent.

5. Signing the Agent Contract:

Here, the field agent will issue you a Bet9ja contract to sign ensuring there is no violation of contractual terms and agreement. After signing the contract, you can become a Bet9ja Agent and start earning some percentage as an agent.

Essential Things for Opening Bet9ja Shop

There are key things crucial for anyone interested in opening a Bet9ja shop, and they are:

1. Shop:

It is the most essential factor to be considered for any individual to set up a Bet9ja shop. The truth is for someone to be successful in the business a good shop is located in an area with a large population. The shop should be large enough to accommodate workers and clients.

2. Counter:

It serves as a barricade between cashiers and customers coming into the shop. In some Bet9ja shops, the counter is decorated with tiles or painted using attractive colours to upgrade its appearance. The size of the counter depends on the number of cashiers, and it should have enough space to occupy desktops/laptops.

3. Decoration:

In every business, the packaging is essential to attract more customers. The outlook of the shop goes a long way in attracting more customers to your Bet9ja shop. It is best advised to use attractive paint on the wall to spice up the look.

4. Monitors and Laptops:

A strong laptop with a processing speed having at least 2.97 GHz. When a computer/laptop of this processing speed is used it is easier attending to customers on time. You can get any amount of laptops depending on the number of customers patronizing you.

5. Receipt Printer:

The printer helps in printing out games for customers and the price varies depending on the particular product you will be purchasing for your Bet9ja shop.

6. Generator:

In Nigeria, constant supply of electricity has been a major issue affecting businesses. For your business to strive well, generator is an inevitable tool to invest your money. It is preferable to buy the generator from the company for better longevity.

7. Television:

A big TV screen helps to make the Bet9ja shop lively because sports lovers from different nooks and crannies might want to come inside to spend time sharing football information. It is a way of making the shop attractive for football lovers.

Methods of Betting on Bet9ja

In Bet9ja, there are two different ways of betting, and they are:

• Online method
• Offline method

1. Online Method:

Here, it is required for the player to book the game online and then move to a physical Bet9ja shop with the code to make his or her payment. Here are the following steps:

• Log on to the Bet9ja site either by phone or laptop
• Select the sport/team you want to stake your money
• Select your game option e.g. Over 2.5, both team to score, away team to win, home team to win, etc.
• Click on Bet slip and input the amount of money to place your bet
• Click on Bet, and a booking code comes out to take it to an offline Bet9ja shop.

2. Offline Method:

It involves going to a physical Bet9ja shop with your money to meet a cashier to book your game. You need to have the games you want to book in your ticket to ease the booking process. At the end of the day, you could be lucky enough to cash out from your bet.

Is There Way for Creating a Bet9ja Account

The proper age for creating a Bet9ja account is 18 years and above, and here is the process:

• Log on the website (Bet9ja) and click on join now
• Input your first and last names, email address, and date of birth for verification.
• Fill in the same name you have on your bank account on the Bet9ja website, and then submit.
• Go to your email and click on the verify link for registration confirmation
• After verification, you can deposit money into your account
• Then you can start booking football matches to earn money

List of Bet9ja Addresses in Lagos & Nigeria

The following are the Bet9ja addresses:

1. Contact Address: 23 Alhaji Ogunsola Street, Egbeda, Lagos

Mobile Phone: 01 279 6666

2. Contact Address: Onilu Village, Lagos

Mobile Phone: 0816 411 6781

3. Contact Address: Ikotun Road, Egbe, Lagos

Mobile Phone: 0816 085 4280

4. Contact Address: Off Malas B/Stop, 87 Liasu Rd, Lagos
5. Contact Address: Jakande Estate Isolo, Lagos

Mobile Phone: 0708 511 0845

6. Contact Address: Maryland Mall, 350 – 360 Ikorodu Rd, Lagos

Mobile Phone: 0802 631 2558

7. Contact Address: Isolo, 10 Opeleke Street, Lagos
8. Contact Address: 8 Ajegunle St, Maryland, Lagos

Mobile Phone: 01 279 6666

9. Contact Address: Oshodi Rd, Mafoluku Oshodi, Lagos
10. Contact Address: 13 Bale St, Isolo, Lagos

Mobile Phone: 01 279 6666

11. Address: Hakeem Tobun St, Ijegun, Lagos

Mobile Phone: 0703 009 8797

12. Contact Address: 31 Martins St, Idi Oro, Lagos
13. Contact Address: 16 Makinde Cl, Yaba 009234, Lagos

Mobile Phone: 0703 097 7557

14. Contact Address: 12 Ariyo St, Oregun, Ikeja

Mobile Phone: 0814 541 3643

15. Contact Address: Oremeji St, Mushin, Lagos
16. Contact Address: 36 Duduyemi St, Isheri Osun, Lagos

Mobile Phone: 0809 854 6762

17. Contact Address: 42 Oba, Dauda St, Alaba, Lagos

Mobile Phone: 0813 203 3184

18. Contact Address: Malu Rd, Apapa, Lagos
19. Contact Address: Atinuke Complex, 129 Okota Rd, Ilasamaja, Lagos

Mobile Phone: 0814 541 3643

20. Contact Address: 14 Oshodi St, Lagos Island, Lagos

Mobile Phone: 0802 346 0810

21. Contact Address: 8 Kasumu St, Papa Ashafa, Lagos

Mobile Phone: 0808 039 5515

22. Contact Address: 39 Adealu St, Dopemu, Lagos
23. Contact Address: 12 C.A.C St, Papa Ajao, Lagos
24. Contact Address: 36 Duduyemi St, Isheri Osun, Lagos

Mobile Phone: 0809 854 6762

25. Contact Address: 19 Ajigbotinu St, Ijaiye, Lagos
26. Contact Address: Alli Alaba Plaza, Opposite Access Bank, Lagos – Badagry Expy, Lagos

Mobile Phone: 0702 245 2655

27. Contact Address: Railway Police Station, 7 Odejobi St, Agege, Lagos
28. Contact Address: 9 Remilekun St, Ketu, Lagos

Mobile Phone: 0803 640 1112

29. Contact Address: Ago-Ijaye Str, Olowora, Lagos
30. Contact Address: Sholanke St, Ojodu, Lagos
31. Contact Address: Felicia Oke St, Olowora, Lagos
32. Contact Address: Jemifo St, Ejigbo, Lagos
33. Contact Address: 28 Lawanson Street, Ikate, Lagos
34. Contact Address: Lekki

Mobile Phone: 0813 203 3184

35. Contact Address: Ketu, Tipper, 16 Odogbolu St, Kosofe, Lagos

Mobile Phone: 0803 473 8823

36. Contact Address: 121, itoki Road

Mobile Phone: 0805 658 4483

37. Contact Address: Silifatu Akinsanya St, Stree, ijesha, Lagos

Mobile Phone: 0803 583 6442

38. Contact Address: Ikotun, Lagos

39  Contact Address: 62, Agboyi Road, Ogudu-orioke, Ojota, 300001, Lagos

Mobile Phone: 0706 681 5598

40. Contact Address: Oloruntosin St, Ota

Conclusion

As much as you need adequate capital for the startup of your sports betting shop, you also need in-depth knowledge of how the sports betting agency works. Since owning a sport betting shop requires you to register as an agent with a particular sports betting company, we advise that you further consult an existing owner of a sports betting shop.

References:

1. https://www.google.com/amp/s/www.entrepreneurs.ng/how-to-start-a-betting-shop-in-nigeria/amp/
2. www.infoguidenigeria.com/betting-shop/