There are a few obstacles in the gambling market in Nigeria. In order to make the business grow even further there are a few things that need improvements. For the casino industry to grow further faster internet connections, mobile penetrations and easy to use payment methods are all important factors. Another obstacle that not many people are talking about is the tax structure. In this article, we will talk about some of the considerations that we have in this regards.
Tax for Gambling in Nigeria
The tax rate in Nigeria depends on the state. Unfortunately, there are not all states that have a specialised team or board that manage these concerns. In Lagos, for example, the system works pretty well. Whereas, in other states, the tax system is part of the regular system. This makes it difficult for international operators to enter the market. When the tax and process differ between states it makes it difficult to operate on such a market. Also, the cooperation between the states is more or less non-existing. It will become increasingly important to figure this out to make it easier for the casino industry to continue growing. With the right law and tax in place, this could be very beneficial for the states. Read more about the tax on gambling in Nigeria at naija247news.com.
Cooperation is important for responsible gambling
Another important factor is that with cooperation between different states it is easier to handle problem gamblers. To have responsible gambling is not that easy and Nigeria has a lot to learn from already regulated markets. For example, in the UK, Sweden and Denmark there are systems in place to ban yourself from all casino operators. They also have special tests, limits on how much you can gamble for each day, week and month. All of the mechanism is important and it better handled on nationwide level instead of by the state.
There are a lot to learn and a lot to take into consideration. For the best for Nigeria the Nigerian gambling industry we think the government should handle tax- and other gambling matters on a federal level.