Cost and Requirements For Setting Up a Sports Betting Shop in Nigeria

The unemployment rate in Nigeria, love, and passion for sports has made the Sports Betting Business one of the fast-rising businesses in Nigeria. We have made a detailed guide on the cost and requirements for setting up a sports betting shop in Nigeria under this post.

Though the Sports Betting Business is not entirely encouraged, it is very viable and continues to boom by the day. Sports Betting companies in Nigeria and websites like Nairabet and Bet9ja are no longer just online but also run their businesses in physical outlets.

As the market continues to expand, new opportunities are made available for more people to invest in the Sports Betting Business. Just as we would be discussing the cost and requirements for setting up a sports betting shop in Nigeria, we would be making most of our references on the sports betting business to companies like Bet9ja and Nairabet. These two sports betting companies are Nigeria’s biggest sports betting giants.

Depending on the finances of the investor and the mode of operation he wishes to run, the cost and requirements for setting up sports betting Shop in Nigeria may be variable.

Some Sports betting shops run their business on a large note in big outlets, while others make use of small to average shops.

Mega betting shops have bigger and better capacities for the high number of punters available as opposed to the smaller outlets.

The profits of investors in the Sports Betting business are guaranteed regardless of the size and capacity of the sports betting shop.

Cost and Requirements For Setting Up A Sports Betting Shop in Nigeria

Before you open a shop to start sports betting business in Nigeria or you want to open sports betting shop in Nigeria, you would first have to register the business. The average cost of registering and setting up a sports betting shop in Nigeria is ₦250,000.

To open a mega-sports betting shop or outlet, you may need to pay up to ₦500,000

Cost and Requirements For Setting Up A Sports Betting Shop in Nigeria

Registration and Sign-Up fees for the sports betting business

Every Nigerian sports betting company has given a Sign-Up or registration fee that the sports betting agent is expected to pay before he can be allowed to operate independently.

To register your sports betting shop on Bet9ja, the cost is ₦50,000 – ₦80,000. For Nairabet, the price for registering a sport betting business under the company is about ₦25,000

Sports Betting Shop Size

You need to have a secure shop in a well-populated area. You definitely wouldn’t want to be running your sports betting business with no punters coming to your shop. Getting a secure and sizeable shop is very important when starting up sports betting business.

To avoid robbers, the location must be a secure site. Also, make sure that there are no other sports betting shops around the same location to reduce the competition rate. This is one of the regulations of sports betting companies, though some sports betting shops still flunk the rules.

Your starting capital will determine the type and size of the sports betting shop you would begin with.

Computers

Whether it is a desktop or laptop; you need to have at least one of these before opening a sports betting shop in Nigeria. You should also have a monitor where your customers and punters can view the games they are betting on.

You can use the monitor to duplicate the view on your computer using DVI-I, DVI-I, or Dual-Link DVI wire to enable a 2 in 1 screen view from across your computer to your customers.

High-end computers are not a must-have for your sports betting shop, you just need to have decent working computer systems and sharp monitors.

In a case where you have a higher number of punters patronizing your sports betting shop, you should consider getting more monitors to improve your customer service care.

The cashier is also to stay meters away from the punters to avoid casualties.

Television

Yes, Televisions are one of the requirements for setting up a sports betting shop in Nigeria. In the sports betting business, you would need to display the current matches and leagues on your TV, to help punters place bets on the teams with a likely win.

Programmed sports events or virtual games have become vital to the sports betting business. Punters can place bets conveniently by just viewing live sporting events.

You may buy a used television if you don’t have much capital for the business. The whole idea is to entertain the punters that will be visiting your sports betting shop.

POS/Thermal Receipt Printer

It is very important you get this printer, to print out both your booked tickets and stamped tickets. The cost of a Sports Betting receipt printer in Nigeria is ₦15,000 – ₦20,000

Electricity Generators

With the current situation of the country, even a 12-hour electricity distribution is not assured. To avoid having your electricity trip off all the time, you can get an electricity generator to alternate when there are power outages.

A medium-sized generator that costs about ₦40,000 is very okay for your sports betting shop.

Internet Services (WiFi 3G/4G)

You cannot start up sports betting business successively without installing a fast working internet service or network connection. It is advised that you either go for a 4G or 5G network connection.

This is a must-have for all sports betting shops to enable your connectivity with the sports betting Companies and also to place betting games on your computer.

You can use WiFi to reduce the wire work you will need for the interconnection of computers and monitors in your sports betting shop.

Is Becoming A Nairabet Agent A Lucrative Business

Becoming a Nairabet Agent is very lucrative and profitable. An accrued amount of betting profits are shared to the Nairabet Agents each month by the sports betting company. The Nairabet Agents may earn as much as 50% of the bets staked in the month. However, the betting agents are not paid when they do not make profits in the month.

Is Becoming A Bet9ja Agent A Lucrative Business

will Becoming A Bet9ja Agent make me money? Opening a sports betting shop as a Bet9ja Agent is very lucrative with the Bet9ja agents having a high margin of payment. This means that Bet9ja pays her agents based on their turnovers in the sports betting business.

The profits of Bet9ja agents are increased with a higher customer base and number of punters visiting the betting shop. Your gain in the sports betting business as a Bet9ja agent largely depends on your customer patronage.

Conclusion

Potential Sports betting investors are advised to conduct feasibility studies in the area or location where they want to cite their sports betting shop, before engaging in the business.

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