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Lagos State Lotteries Board
The Lagos State Lotteries Board (LSLB) is the regulatory body in Nigeria for any kind of gambling. It was established in 2005 by the Lagos State Government of Nigeria and was tasked with the responsibility of creating a regulatory framework for gambling.
The Lagos State Lotteries Board (LSLB) is the regulatory body in Nigeria for any kind of gambling. It was established in 2005 by the Lagos State Government of Nigeria and was tasked with the responsibility of creating a regulatory framework for gambling. At the time of its establishment, Nigerian players were flocking to illegal gambling activities and the government was losing out on revenue.
The main job of the LSLB is to license and regulate online lotteries, online sports betting, scratchcard, and interactive games, promotional competitions, pools betting, and casinos and gaming machines. This means that all Nigerian gambling operators need to be licensed by LSLB and conform to its strict standards of player protection, including providing accurate information, excellent services, and timely grievance resolution.
The exception to this is online casinos; as of now, the LSLB has not created a licensing or regulatory framework for online gambling, which means that Nigerian online casinos are considered illegal and owners can be prosecuted. However, Nigerians can still get their fix by playing at offshore-owned online casinos. While these online casinos theoretically are not allowed to operate in Nigeria, there’s nothing that the government can do to stop them.
Should the LSLB decide to implement regulations for Nigerian online casinos, the country would probably see a large increase in revenue. While the LSLB does generate revenue from its licensing and regulating powers, the potential is greater with online gaming. As of now, revenue generated by the LSLB is typically apportioned to the education, infrastructure, environment, and social & health sectors in Lagos State.
Would you like to learn more? Visit the following link for more details and information: lslb.lg.gov.ng.