How to start a sports betting business in Nigeria


Not too long ago, I visited the university I graduated from. Apart from the few new buildings which had sprung up, I noticed the presence of betting shops everywhere. You see, while I was at University, not even one betting shop had existed on the site.

The betting industry is a multi-billion dollar industry. Betting has existed in different forms in Nigeria for as long as I can remember. However, sports betting went mainstream about five years ago and now, there are betting shops on virtually every popular street you visit.

Tales of mega million naira wins have further fuelled the betting frenzy, but here’s the secret to cashing in: regardless of whether the punter wins or loses, the betting shop always wins. This is one of the reasons why sports-betting business has become akin to a gold mine in Nigeria.

In this post, I would like to examine how to set up a sports betting shop. In writing this article, I spoke to a young friend (let’s call him Dan) who was a cashier at a Bet9ja shop before gaining admission to the University. He was happy enough to share some valuable information with me, so I will be referring to his suggestions as this piece goes on.

How do betting shops operate?
Betting shops are the interface between the sports and a punter. The punter bets on the said sport with hopes of correctly predicting the outcome. The betting house is then obliged to pay the punter a set amount should the predictions be accurate. The betting house earns its keep from the higher probability of the number of failed predictions within the set period.

Signing up under a betting company
To begin in the business, you will need to signup as a franchise with a betting company. This will allow you to use the company software, name, logo and reputation, which help in reducing your risks as a newcomer. In exchange for this, you pay a franchise fee. Below is a list of betting companies with whom you can sign up your venture online, in order to begin the process right away. Most companies will require that you fill out an online form beforehand.









Each betting company comes with its own unique guidelines, commission rates and so on.
What you will need to start

1. Shop
The location of your betting shop is one of the most important aspects of the business. If you get your location right, you are most assured of always having customers. High footfall is key, so prioritise your location strategy above all – such as saving on the rent (within reason, of course). Avoid shops such as those on the 4th floor of shopping complexes in quiet parts of town.
Some franchises even offer guidelines on how and where to secure your new venture. For example, Bet9ja will usually inspect your chosen location before you launch, therefore it might be a good idea to contact them for approval before relinquishing your rent.
Dan offered some insight into shop sizes and suggested that the shop should be at least 12m x 12m in size. Ideally, he said,  a standard bet shop should be able to contain 100 persons at any given time point.

Estimated rent: ₦15K monthly = ₦180K per annum

2. Computers + Internet
You will need Internet-enabled computers to place bets. The number of cashiers you have determines the number of computers you will need. You may start with two cashiers, but it is advisable to have up to four. Desktop computers are more advisable as they are less susceptible to theft. The computer specs can be as basic as 80gb HDD and 2gb Ram. A fairly-used desktop computer should go for about ₦70K.
Internet costs can potentially drive up running costs of your business if the wrong choice is made, so make a wise decision at this stage. You will need fast internet to run a betting shop, so some options to consider are any of the 4G-LTE internet service providers such as MTN, Etisalat, Spectranet, Smile. These cost estimates are based on the pricing for Spectranet indoor WiFi.
Estimated cost of four computers:  ₦280K
Internet (Spectranet): ₦40K

3. UPS
Depending on your pocket, you may consider getting a UPS. A 1.57kva UPS currently goes for about 34k.
UPS cost: ₦34K

4. Fittings
This refers to sitting areas for customers, shelf and chairs for cashiers, notice boards etc. I estimate that ₦50K should go a long way in handling these.
Fittings cost: ₦50K

5. Thermal printer(s)
Thermal printers are used in printing bet slips for customers. Some bet franchises offer these as part of their sign-on fees. Thermal printers range ₦27-32K
Thermal Printers: 4 pieces at ₦32K = ₦128K

6. Power supply (electricity generating set)
You will be better of with a generating set of at least 2.2kva, because of the electricity demands involved. A 2.2kva generator currently sells for about ₦85K.
Generator – ₦85K

7. TV/Cable subscription
The number of Tvs you’ll get is dependent on the types of betting events you want to cover. These may be live sports (football, tennis), virtual soccer, dog racing, ‘colour’ etc. You may need to confirm what customers usually play in your area to know which events to offer.

In my vicinity, for example, Dan observed that customers were just as interested in virtual games as they were in live games and matches. Translating this into the venture, it would then be a good idea to set up with two televisions –  one TV for virtual games, and the other for live games. Live football matches tend to draw more customers to your shop. It is also a good idea to consider buying fairly-used flat screens, and these cost between ₦30-50k. Let’s go with ₦40K for the sake of this post.
TV: (40 x 2) = ₦80K
Cable TV subscription and initial setup: ₦30K

8. Bet Franchise Sign on fees
As you will be signing under an already existing betting franchise, you will need to register and pay a sign on fee. I got conflicting responses regarding the sign on fees, so I think that these vary and are negotiable. A contact in Akwa Ibom who was about to start his betting shop revealed that he estimated sign-on fees in the region of ₦50k. Dan, on the other hand, had fees of between ₦15-20K. For the sake of this post, let us go with the higher figure of ₦50K.

Cost Summary
Shop                                                            180,000
Computer/internet                              320,000
UPS                                                               34,000
Fittings                                                         50,000
Thermal printers                                   128,000
Generator                                                    84,000
TV                                                                   80,000
Cable                                                              30,000
Sign-on fees                                                50,000
Total                                                       ₦956,000

Do not be discouraged by this breakdown. Remember that where possible, we went with the higher options figures, therefore this a worst-case scenario budget. It is easy to identify areas where costs can be cut, and cheaper deals can be negotiated.

Can I start a sports betting business with ₦400k?
Looking at the above cost summary, I would guess that with extreme cost cutting measures, this might be possible. Perhaps you could work with only two computers for a start, rent a cheaper shop, use a pre-owned generator, own only a TV, and use the cheaper internet. The major challenge you might encounter could be that you may no be able to start AND run the betting shop with ₦400K, due to the running cost involved.

Running costs

  • Electricity: If you are situated in an area where there is a decent power supply, you will spend less on your generator and vice versa. When there’s stable power supply in my area, Dan estimates that he uses around 25 litres of petrol weekly. When PHCN goes on a hiatus, that 25 litres barely lasts three days. Assuming that you run 25 litres weekly, at the current rate of ₦147 per litre, you’ll spend ₦3,675 weekly. This translates to about ₦14,700 weekly. Depending on how NEPA rolls in your area, you may receive an estimated billing of at least ₦10-15k per month.
  •  Internet: Unlimited monthly Spectranet is ₦18k. Try as much as possible to enforce that your cashiers use the internet strictly for business and nothing else. If you can work with the service provider to restrict access to all websites apart from a few, do so.
  • Workers’ Salaries: Most bet shops go for the monthly model of remuneration. However, some parties suggest using a salary + commission basis. This is good as it can increase staff motivation.
  •  Funding account: You will need to fund your bet account frequently. Funding frequency and amount largely depends on how much sales you have. Dan tells me it is possible to fund accounts close to ₦500k a weekend (Saturday and Sunday) alone. If you are in a busy area with a lot of customers, expect to fund your account at a minimum of ₦100k on most working days.

Break-even point
This business, like every other, has a gestation period before breaking-even and paying off sunk capital.

You will have to run the business from secondary income sources until it can sustain itself.
Betting companies pay commissions based on sales, and sometimes, net-profit made. The net profit is the difference between the gross sales and gross winnings over a period. Bet9ja, for example, offers a 10% commission on sales made every week. Merrybet offers up to 50% commission going by what is written on their website.

I believe that contract negotiations can be done to favour a commission on both sales and net-profit made over a period. You may need to confirm if there is such an option. A take-home profit 40-60% of your commission after expenses is good profit for a betting shop. You can reduce your expenses with time to increase your profit margin, as long as it does not affect the quality of service rendered. With great location and sales, there’s no denying the profitability in betting business.

I hope I covered just enough to set you on your way to owning a bet shop. If I missed anything, always remember you can hit me up in the comment section. If you have a betting shop or in the process of opening one, I would love to read your experiences so far.

Thank you for reading and remember to share with your friends.


  • I need it

    Felix shintoho October 22, 2017 1:46 pm
  • You are good in feasibility studies.
    I would need more of ur help for business e-mail;

    Frank October 30, 2017 2:14 am
    • Hi Frank,

      Please e-mail me : and I will be happy to help

      Ethan November 5, 2017 12:06 am
  • please I think I have a least half the money to start sport betting shop. But I need a good business plan and the challenge it comes with

    Benny January 8, 2018 12:44 pm
    • Hi Benny,

      It might be helpful for you to apprentice at an existing betting shop for the time being to figure out what areas you need to improve on, in order to inform your business plan.

      Ethan January 8, 2018 2:24 pm
  • Hi Ethan, i am new to the business and i have a 9-5 job in consulting. I am considering opening a store in a good location but fear that i may not have the time to be there every day. I can only be ther on weekends.As an alternative i am considering bringing in a friend to handle the set up temporarily then also hire a female cashier. Is it wise to go this route? My premises are that i can monitor the account online den with my friend on ground i can have some visibility on operations. Kindly advise!!!

    Emeka January 21, 2018 8:38 am
  • Hello Mr Ethan, i am new in this business but i want to start this business with my friend its ok i can monitor the account online. i will like to send u personal emaill ok.

    lasisi February 25, 2018 7:00 pm
  • Pls wil love to ring you

    Tony March 8, 2018 10:23 am
    • Hi Tony,

      I’m sorry I work full time and can’t usually take calls. You can ask your questions here or email me via and I will get back to you as soon as I can.

      Ethan March 8, 2018 3:05 pm
  • i want set a bet shop

    john ojah April 11, 2018 9:42 pm
  • Thanks, Ethan for this post. God bless you.

    Abeg, what is the cost of becoming an agent for UBC365

    Help a brother abeg.

    Olayinka April 15, 2018 9:50 pm

    SANUSI ADEKUNLE May 30, 2018 1:32 pm
  • I just joined HAMABET ( and have not regretted it. Joining is free, many bonuses, 100% bonus for first deposit, 200% for first online punters deposit, payout under 24hrs, greatest odds available (you can check yourself). The company appears to have a solid financial base.

    AIYELOJA June 26, 2018 7:10 pm
  • This is a very good idea, but it needed capital to start it

    Alex July 4, 2018 2:29 pm
    • It is, but most businesses require capital whether it is investment of time or money. That’s a universal law – you have to give something to get something.

      Ethan July 8, 2018 7:42 am
  • Please I want to be a bet9ja but my shop size was not approved,what should I do please

    Saviour September 5, 2018 3:17 pm
  • Am Mr. Iburu ozoemena from Ndiagu Echara Ikwo, Ebonyi State. I want to venture 9ja betting biz and I have location/shop but no super agent who will link me and the one I met told me that bet9ja is no longer creating account to new comers. Advise me, pls.

    Iburu ozoemena November 12, 2018 10:31 am
  • I precisely desired to thank you very much again. I am not sure what I would’ve carried out in the absence of the type of ways shown by you concerning that concern. It had been a very difficult concern in my view, however , being able to see a new expert style you resolved it took me to cry over joy. I’m just grateful for the information and in addition pray you comprehend what a powerful job you are accomplishing teaching others using your webblog. I know that you haven’t come across any of us.
    Adidas Originals NMD X Yeezy 350 Boost Mens Running Shoes White Black [url=]Adidas Originals NMD X Yeezy 350 Boost Mens Running Shoes White Black[/url]

    Adidas Originals NMD X Yeezy 350 Boost Mens Running Shoes White Black December 3, 2018 2:51 am
  • Thanks so much for giving everyone an extremely terrific opportunity to read from this site. It is often very brilliant and as well , full of fun for me personally and my office acquaintances to search your blog no less than 3 times weekly to see the new secrets you have got. And definitely, we’re always happy considering the fantastic methods you serve. Selected two areas on this page are clearly the finest we have ever had.

    yeezy December 10, 2018 12:08 am
  • Thanks so much for providing individuals with an exceptionally remarkable possiblity to read from here. It can be very useful plus full of amusement for me personally and my office mates to search your web site no less than three times a week to learn the newest tips you have got. And definitely, I am always astounded with your sensational solutions you serve. Some 4 ideas in this article are surely the best I have had.
    nike huarache

    nike huarache January 1, 2019 6:41 pm
  • I am only writing to let you know of the magnificent encounter my cousin’s child gained reading your web site. She learned numerous issues, including how it is like to possess a very effective coaching style to make other individuals effortlessly have an understanding of some advanced subject matter. You truly did more than people’s expected results. Many thanks for showing these helpful, safe, explanatory and also cool tips on the topic to Emily.
    converse shoes

    converse shoes January 2, 2019 9:35 am
  • I definitely wanted to make a simple remark to say thanks to you for the lovely information you are giving on this site. My incredibly long internet research has at the end been rewarded with reasonable suggestions to talk about with my neighbours. I ‘d mention that many of us site visitors actually are very much lucky to exist in a superb site with so many awesome individuals with good points. I feel pretty grateful to have seen the site and look forward to some more pleasurable minutes reading here. Thank you once more for all the details.
    adidas ultra boost uncaged

    adidas ultra boost uncaged January 2, 2019 6:54 pm
  • I must express my appreciation for your kind-heartedness giving support to people that need assistance with the idea. Your real commitment to getting the message all-around has been especially informative and have in most cases made men and women much like me to get to their aims. Your personal informative guideline entails a lot to me and a whole lot more to my office workers. With thanks; from each one of us.
    adidas eqt

    adidas eqt January 3, 2019 2:05 am
  • I want to show my appreciation for your kindness giving support to visitors who require help with this one subject. Your special commitment to passing the solution all over appeared to be extremely helpful and have in most cases permitted guys and women just like me to realize their objectives. Your new useful publication can mean much to me and much more to my mates. Regards; from all of us.
    golden goose sneakers

    golden goose sneakers January 3, 2019 9:03 pm
  • I precisely needed to thank you so much all over again. I’m not certain what I could possibly have worked on without the entire hints shown by you concerning that problem. Certainly was a daunting case for me, nevertheless encountering this professional fashion you dealt with that forced me to leap with happiness. Now i’m happy for the help and trust you recognize what an amazing job you’re carrying out training most people thru your webblog. Probably you’ve never come across all of us.
    jordan shoes

    jordan shoes January 4, 2019 4:25 pm
  • I wish to get across my gratitude for your kindness giving support to those people who must have guidance on this area of interest. Your special commitment to passing the solution throughout came to be wonderfully interesting and have frequently enabled employees much like me to achieve their aims. Your new important report indicates a lot to me and much more to my mates. Many thanks; from everyone of us.
    lebron 13

    lebron 13 January 5, 2019 9:03 am
  • I want to show some appreciation to the writer just for rescuing me from this type of issue. Right after researching throughout the internet and seeing strategies that were not productive, I assumed my life was gone. Living without the presence of strategies to the difficulties you’ve resolved by way of your review is a crucial case, and ones that would have negatively damaged my career if I had not noticed the blog. The training and kindness in playing with all things was vital. I am not sure what I would’ve done if I had not come across such a stuff like this. I am able to now relish my future. Thanks a lot so much for this reliable and effective guide. I will not think twice to refer your blog post to anyone who will need tips about this issue.
    adidas yeezy

    adidas yeezy January 6, 2019 5:13 am
  • Thanks so much for giving everyone a very superb opportunity to read articles and blog posts from this web site. It is always very pleasurable and also jam-packed with a great time for me and my office acquaintances to visit your website not less than three times every week to read through the newest items you have got. Not to mention, I’m also actually motivated with the striking points served by you. Selected 1 points in this article are absolutely the most efficient we have all ever had.

    yeezy January 7, 2019 2:18 am
  • I have to show my appreciation to you for rescuing me from this particular crisis. As a result of checking through the the web and finding thoughts which were not pleasant, I figured my entire life was well over. Existing without the solutions to the problems you’ve resolved by way of the article content is a crucial case, as well as ones that could have badly damaged my career if I had not encountered the website. The know-how and kindness in maneuvering all areas was very helpful. I’m not sure what I would’ve done if I hadn’t come across such a thing like this. I can now look forward to my future. Thank you so much for this high quality and results-oriented guide. I will not hesitate to recommend the sites to anyone who needs and wants guidelines on this issue.
    jordan 11 retro

    jordan 11 retro January 9, 2019 6:28 pm
  • Thank you for your own labor on this website. Betty takes pleasure in making time for investigation and it’s obvious why. A lot of people know all relating to the lively method you render invaluable thoughts by means of this blog and therefore recommend contribution from some others on the concept plus our own child has been studying a great deal. Take advantage of the rest of the new year. You are doing a useful job.
    moncler jacket

    moncler jacket January 10, 2019 11:19 am
  • Thanks a lot for giving everyone an extremely pleasant possiblity to read in detail from this website. It can be so excellent plus packed with fun for me personally and my office acquaintances to search your web site minimum thrice weekly to find out the latest secrets you have got. Of course, I’m so certainly motivated concerning the brilliant creative ideas you serve. Some 2 tips in this post are easily the most effective we have all ever had.
    golden goose

    golden goose January 11, 2019 6:09 am
  • Thanks for all of the effort on this web page. Kate takes pleasure in working on research and it’s obvious why. Most of us know all regarding the compelling method you provide effective suggestions via this website and as well as strongly encourage response from website visitors on that theme so our own daughter has been becoming educated a whole lot. Take pleasure in the remaining portion of the year. Your conducting a great job.
    nike shox

    nike shox January 12, 2019 12:32 am
  • Thanks for all of the efforts on this website. My aunt enjoys participating in research and it is easy to understand why. I learn all relating to the powerful tactic you provide advantageous solutions by means of the website and as well as foster participation from people on the issue and our favorite princess is undoubtedly starting to learn a great deal. Take advantage of the remaining portion of the year. You are carrying out a stunning job.
    golden goose outlet

    golden goose outlet January 12, 2019 4:45 am
  • I definitely wanted to post a quick message to be able to appreciate you for these fabulous points you are giving on this site. My particularly long internet lookup has finally been paid with really good insight to exchange with my visitors. I would state that that most of us website visitors actually are rather blessed to live in a wonderful site with so many wonderful professionals with valuable pointers. I feel quite lucky to have discovered the site and look forward to tons of more thrilling times reading here. Thanks once again for everything.
    nba jerseys

    nba jerseys January 12, 2019 9:10 pm
  • Thanks a lot for providing individuals with an exceptionally memorable chance to read from this website. It’s usually very great and also packed with a good time for me and my office peers to search your website minimum three times per week to study the newest guidance you have got. Of course, I’m also usually impressed concerning the brilliant concepts you serve. Some two facts in this article are clearly the finest I’ve had.
    yeezy boost 350

    yeezy boost 350 January 13, 2019 5:12 pm
  • Thank you a lot for providing individuals with an extraordinarily special possiblity to read critical reviews from this blog. It’s always so sweet and stuffed with a great time for me personally and my office friends to search your web site on the least three times weekly to learn the newest issues you will have. And lastly, we’re always fulfilled with the great knowledge you give. Selected two areas in this article are truly the most beneficial we’ve had.
    kd 10

    kd 10 January 14, 2019 11:39 am
  • Great post, thanks.

    Tanna January 14, 2019 3:01 pm
  • I am just writing to make you be aware of of the fabulous discovery my wife’s child obtained reading through yuor web blog. She came to find a good number of details, which included how it is like to have an incredible giving mindset to have the others really easily know precisely specified multifaceted topics. You actually did more than our own expectations. Many thanks for imparting such effective, trustworthy, revealing not to mention cool tips on that topic to Ethel.
    nike cortez

    nike cortez January 14, 2019 9:47 pm
  • Thank you for all of the work on this blog. My mum enjoys going through internet research and it is easy to understand why. Most of us notice all of the dynamic ways you present effective techniques through the web blog and even welcome participation from some other people on the concern then our favorite girl is without a doubt discovering so much. Take pleasure in the rest of the new year. You have been performing a superb job.
    nike roshe run

    nike roshe run January 15, 2019 5:46 am
  • My wife and i were very satisfied when Louis managed to round up his analysis by way of the precious recommendations he discovered in your web pages. It’s not at all simplistic to simply always be giving out secrets and techniques that some people might have been selling. And we consider we need you to thank because of that. The most important illustrations you’ve made, the easy website menu, the friendships your site give support to instill – it’s everything spectacular, and it is letting our son and us feel that that theme is fun, which is certainly particularly vital. Many thanks for the whole thing!
    ultra boost

    ultra boost January 15, 2019 3:06 pm
  • A lot of thanks for your entire effort on this blog. My mother delights in carrying out research and it’s simple to grasp why. Many of us know all regarding the compelling mode you give both interesting and useful ideas by means of the website and in addition boost contribution from website visitors on this content then my princess is undoubtedly discovering a whole lot. Enjoy the rest of the year. You are always conducting a very good job.
    james harden shoes

    james harden shoes January 15, 2019 3:57 pm
  • My spouse and i were really satisfied that Michael managed to complete his researching while using the precious recommendations he grabbed in your web page. It is now and again perplexing to just choose to be making a gift of tactics which usually other people might have been selling. And now we realize we need the website owner to give thanks to for that. All the illustrations you have made, the simple website navigation, the friendships you can give support to instill – it is most awesome, and it is letting our son and us understand the matter is awesome, which is unbelievably indispensable. Thank you for all the pieces!
    yeezy 500 blush

    yeezy 500 blush January 15, 2019 11:38 pm
  • My wife and i were really fulfilled when Peter managed to conclude his investigations from your ideas he discovered from your very own weblog. It’s not at all simplistic to simply be giving out tips and tricks many people could have been selling. And we all consider we’ve got the writer to be grateful to for this. The main illustrations you made, the easy blog navigation, the relationships you can help to promote – it is mostly overwhelming, and it’s letting our son and the family consider that this issue is pleasurable, and that is unbelievably indispensable. Thanks for the whole thing!
    michael kors handbags

    michael kors handbags January 16, 2019 7:59 am
  • My husband and i have been satisfied when Raymond could finish up his basic research through the ideas he got while using the web page. It’s not at all simplistic just to be handing out strategies which other folks have been trying to sell. And we all recognize we need the website owner to give thanks to because of that. The most important explanations you made, the straightforward web site navigation, the relationships you can give support to foster – it’s all exceptional, and it’s making our son in addition to us reason why this situation is awesome, which is certainly quite fundamental. Thanks for all the pieces!
    balenciaga sneakers

    balenciaga sneakers January 16, 2019 7:05 pm
  • I wish to express thanks to the writer just for rescuing me from this situation. Because of looking throughout the the web and meeting views which are not powerful, I believed my entire life was gone. Being alive devoid of the strategies to the difficulties you’ve sorted out as a result of your good guide is a crucial case, as well as those which might have badly affected my entire career if I hadn’t noticed your website. Your talents and kindness in maneuvering all the stuff was tremendous. I don’t know what I would have done if I had not come across such a step like this. I can also at this time relish my future. Thanks very much for this impressive and effective guide. I will not be reluctant to recommend the website to anybody who needs to have guide about this matter.
    kyrie shoes

    kyrie shoes January 17, 2019 11:32 am
  • Yeezys
    Yeezy Boost 350
    Yeezy Boost 350 V2
    Yeezy Boost
    Yeezy Shoes
    Yeezy 500 Utility Black
    Yeezy 500
    Vapor Max
    Salomon UK
    Salomon UK
    Off White Jordan
    Nike Air VaporMax
    Nike React Element 87
    Nike React Element 87
    Nike Vapormax Plus
    Nike Outlet Store–
    Nike Outlet Store Online Shopping
    Nike Outlet Store Online Shopping
    Cheap Nike NBA Jerseys
    Nike Air Max
    Nike Air Max 2017
    Jordan Shoes
    Jordan 11 Concord 2018
    Cheap Yeezy Boost
    Cheap NBA Jerseys From China
    Birkenstock UK
    NBA Jerseys
    Air Max 270
    Yeezy Shoes

    Adidas Yeezy 500

    Adidas Yeezy 500 January 17, 2019 1:56 pm
  • My spouse and i felt very more than happy when Louis managed to carry out his homework with the ideas he made from your very own weblog. It is now and again perplexing to simply choose to be making a gift of hints that many some other people have been trying to sell. Therefore we fully grasp we now have the website owner to appreciate because of that. Those illustrations you made, the straightforward web site navigation, the relationships you assist to foster – it is most powerful, and it is aiding our son in addition to our family believe that the issue is entertaining, which is rather mandatory. Thanks for all the pieces!
    hermes belt

    hermes belt January 17, 2019 9:09 pm

Leave a Comment

Your email address will not be published. Required fields are marked *