Oyo Lottery Board Holds Interactive Session on Safety Measures

The annual Stakeholders’ Interactive Forum organised by the Oyo State Lottery Board is scheduled to be held in Ibadan on November 20 at Horizon Suites Events Hall, Oluyole Estate.

The panel discussion, training, stakeholders interactive session, dinner and award night will be conducted around the theme, ‘Boom or Bust: Balancing Innovation and Consumer Safety in the Gaming Industry’. 

The forum is scheduled to inform and educate gaming operators, regulators, the gaming public, and all other relevant industry stakeholders on the new framework of the board, discuss pertinent issues regarding the gaming and lottery industry within the state, train operators and the regulators on the intricacies of player protection and data protection, and to thank gaming licensees for their contributions to the growth of Oyo State.

Speakers will include the MD/CEO of BetKing, Gossy Ukanwoke; Regional Manager Africa of Mchezo Limited, Olabimpe Akingba; and representatives of Winners Golden Chance, Velex Advisory and the Oyo government agencies.

The Nigerian gaming industry has witnessed a massive transformation in the past decade, fueled by the convergence of technology, innovation, and a rapidly growing population eager for new forms of entertainment. In a nation where youth dominate the demographic profile, digital innovation in gambling offers unprecedented opportunities for economic growth and job creation. However, with this growth comes significant risks.

The concern is that without proper regulations and safety measures, the Nigerian gaming industry could devolve into a space where consumer exploitation and societal issues overshadow the benefits of innovation. This theme has been chosen to examine the delicate balance between embracing innovation and ensuring consumer safety, emphasizing how a boom could be sustained or turn into a bust due to unbridled enthusiasm.