1xBet granted full national licence in Nigeria

| January 23, 2020 | 0 Comments

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1xbet has been granted a full National Licence to operate in Nigeria until 2024.

The licence allows the operator to do business in all states and local government regions across Nigeria.

The operator said that the move will allow it to ensure high standards are upheld when it comes to responsible gambling in the country.

“1xBet is a supporter of responsible betting,” 1xBet said in a statement. “We comply with the laws of each country in which we operate. Given that our licence to work in Nigeria is valid until 2024, in the next five years we want to set new standards of betting culture. We will teach fans that with 1xBet they play according to simple and understandable rules that must be observed.

“In addition to the financial regulatory body’s transaction limit in Nigeria, and our concerted efforts to drastically reduce gaming addiction, we have also implemented a spending limit on our platform to further promote responsible gaming. Also, we ensure regular 1xBet attendance at various seminars of the regulatory authorities on responsible gaming.”

The operator said that its experience in football, by far the most popular sport in Nigeria, it was perfectly suited for Nigerian customers, having signed partnerships with many major football clubs including Barcelona, Chelsea, Tottenham Hotspur and Liverpool in recent years.

“We are well aware of Nigeria’s position as a renowned football-focused market,” it said. “In 2018 we signed a partnership agreement with the Nigeria Football Federation, the Nigeria national football team, as well as the Nigerian Premier League. In addition, we are official partners of the African Confederation of Football and the largest club tournaments of the continent. We have accumulated considerable experience while working with top football clubs such as Barcelona.

“Therefore, we not only offer Nigerian fans a wide range of betting options, but also a sense of involvement in the victories of their favourite teams. Football fans can be sure of 1xBet, where they always have a winning chance alongside their favourite clubs.”

However, the company added that the licence would allow it to offer a wide range of sports betting markets to Nigerian customers, as well as markets in “cinema, music, politics and other areas of life”.

“We want to give everyone who is legally able to place bets access to earning potential and look forward to finding interesting new partners in Nigeria with like-minded goals,” 1xBet said.

In August of 2019, found itself at the centre of a media storm following a report by UK broadsheet the Sunday Times. The paper levelled a number of allegations at the operator, including of promoting its brands on prohibited sites.

However the operator told iGB that third party partners were to blame for its ads appearing on prohibited sites. This, it said, was done without its prior knowledge or consent. Despite this, Tottenham Hotspur opted to end its partnership with 1xBet in September while Liverpool and Chelsea followed suit later in the month.

Culled from :Here

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Category: Sports