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Main provisions of gambling regulations in Nigeria
The National Lottery Act started in 2005, a year after the commission's foundation. It contains specific provisions for regulating the gambling landscape in the country.
The most important part of the Act is limiting gambling activities to people who are 18 years or older. This is done to prevent minors from the potential risk associated with gambling. When it comes to regulations, athletes are always a point to be considered however, there are no limitations to gambling activities for athletes in the country.
Provisions specified in the act apply to both land-based and online casinos. However, there are some distinctions. The main distinction comes from licensing. Online casinos require a different, separate license. This is because the operation of an online casino is completely different, and this license enforces the need for cybersecurity and other online-related issues.
Online casinos must be subject to more critical technical standards to maintain the game's fairness. This includes the protection of playerβs personal and financial data. They are constantly monitored to see if they follow regular safety measures, are checked for proper RNG modules, and must comply with responsible gambling regulations.
Marketing is another area where online casinos receive more strict supervision. They are more limited in the channels they are allowed to advertise. To protect gamblers, they must employ safe gambling features. They need to implement self-exclusion programs, enforce deposit limits, and many other ways to help the players alleviate any gambling problems they might be facing.
The main goal of the regulations is to protect players and ensure that the government can collect revenue from gambling activities to develop the country.
