Some years back, operators of gambling and lottery businesses in Nigeria had to struggle for recognition amid the pervading belief and narratives that lottery and gambling breed indolence and a life of uncertainty.
However, as information technology sweeps over the global economic landscape, and with the Nigerian current economic challenges forcing people out of their comfort zones, both the government and the people of Nigeria have come to appreciate the lottery business not only as a means of employment and income generation for its promoters but also as a veritable revenue source to the federal and state governments.
According to reports, there are at least 24 lottery operators in the business said to be worth $70 billion in Nigeria. It’s a revenue earner and one of the low-hanging fruits for the federal government and state governments. Given the fact that most of the lottery businesses have Lagos as their base, the state government is leaving no stone unturned in ensuring making the sector is a tax earner.
Today, the lottery is gaining ground at a dizzying speed as virtually all the nooks and crannies of big cities like Lagos, Ibadan, Abuja, and Kano are littered with all kinds of adverts and offices of lottery promoters.
Speaking on the growing popularity of lottery among Nigerians, Chief Operating Officer of MegaMillions Naija Lotteries, Victor Nwaobia said things are changing for the better in the Nigerian environment now as the improvement in telecom services is expanding the frontiers of the lottery business.
According to him, “Before the advent of the internet, Nigerians would travel to Europe, Australia, the United States, and Canada to participate in international lotteries because they were required to be physically residents of or travel to the home countries of these lotteries to participate and play in their currency.”
He said rather than folding their arms and resigning to fate, Nigerian businessmen decided to use the Internet advantage to join the global market and provided the needed platform for Nigerians seeking to participate in the game.
Giving a hint about the formation of MegaMillions Naija Lotteries, Nwaobia said, “We saw this as a challenge to Nigerians’ winning these large lottery jackpots and decided to do something about it. True to our indomitable Nigerian spirit, our drive and determination resulted in the birth of the MegaMillions Naija Lotteries, which has partnerships with over 20 international lotteries across the world. These lotteries on our platform can be accessed and played with our local currency, the Naira.”
He explained that International Gaming and Entertainment Limited, the registered owner of Megamillions Naija Lotteries was established to deliver entertainment and provide inclusiveness for Nigerian lottery players and enthusiasts to benefit from the real BIG international lottery jackpots.
He pointed out that a lot has changed in the Nigerian lottery landscape as it continues to expand and that many people are benefiting from it. “For example, the lowest jackpot on our platform is currently worth nothing less than N30 million, with some jackpot prices as high as over N200 billion. You can imagine the earth-moving impact a win of such a jackpot will have in Nigeria. Someone’s life will change with as little as N100 play in the group ticket. That will be a life-changing story we are eager to share with Nigerians,” he stated.
One of the challenges facing the lottery business in Nigeria, no doubt, is the activity of unregistered companies most of which have been scamming innocent Nigerians.
For instance, in the latest attempt to end fraud-related tax in the lottery and betting industry in Nigeria, the Economic and Financial Crimes Commission (EFCC), has uncovered the identity of 35 lottery business operators who do not have core licences or permits to operate.
According to a notice on its website, the anti-fraud agency said the 35 illegal companies’ names were unravelled during an investigation that was carried out on the operations of lottery companies in the country, supported by a document from the National Lottery Regulatory Commission (NLRC) based on a request from the EFCC.
However, Nwaobia said his company stands out with its approach to business. The first difference, according to him, is in the value of the possible jackpot win.
“Having the least jackpot win of N30 million sets us apart from other forms of local lotteries and gaming available in Nigeria. When you further see jackpots worth over N200 billion, you’d agree that there is really no comparison to what all the sports betting, and local lotteries can currently offer.
“Secondly, no skill set or knowledge of the game is required for you to play the lotteries on our platform. All you need to do is pick a set of numbers from a group and play them. You can also let the system pick the numbers for you. This is far more straightforward and less complicated than the knowledge of games or the skill required to make an informed odds decision in sports betting.
“Another thing is that, unlike sports betting, where you have to wait for the sports season to be able to bet or win something, you can play and win every day of the year on our platform. As soon as someone wins a jackpot, it automatically resets to a standard amount that continues to grow till the next draw. For example, when someone wins the US Powerball jackpot, it rolls back to N8.3 billion, which continues to grow till the next draw winner is announced.
“The last thing that differentiates us from others is that we are, the only lottery platform that wants you to win,” he explained.
On what stands the MegaMillions Naija Lotteries out in the lottery market, he explained that one of the decisions of the owners of the company was to consider every segment of the people.
He said: “We created a business model that allows every segment of Nigerians, above the age of 18 years to participate. Players who cannot afford the full ticket price of different lotteries which ranges from N1,200 to N4,000 can participate in Group Games for as little as N100 per share of a ticket. If the ticket wins the jackpot or any other category of winnings, those who purchased part shares of that ticket will share the reward.
“It makes participation in these international lotteries affordable for all segments of society. You can win life-changing jackpots and prize money with as little as N100.”
One of the misgivings expressed by critics of the lottery and gaming business is the fear that promoters of the business may tamper with the winnings.
Nwaobia however pointed out that technology has taken care of this fear. He said, “technology is the backbone of our company.
The system creates your ticket instantly after you register and choose your numbers. Draws take place on various days, depending on which lottery you choose. Let’s say you bought a U.S. Megamillions ticket for the Friday drawing. Five white balls are drawn from a set of balls numbered 1 through 70; one gold Mega Ball is drawn from a set of balls numbered 1 through 25. If your selected numbers match these numbers, it will reflect in your account that you have won the jackpot, and an e-mail will be sent to you immediately.”
As a demonstration of its collaboration with the world’s best, Megamillions is said to have over 20 lotteries on its platform across the world, like the US Megamillions, US Powerball, Euromillions, Eurojackpot, La Primitiva, El Gordo, Bonoloto, SuperEnaloto, Australian Powerball, Oz Lotto, Au Saturday & Wednesday, Lotto649, with a lot more being signed up.
SOURCE: https://www.thisdaylive.com/index.php/2022/10/30/as-megamillions-naija-expands-frontier-of-lottery-jackpots-in-nigeria/
